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Belfiore On Post Oak: Condominiums At 1275 South Post Oak Ln.


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Wow, Houstonian. Restraint, and manners. Not often found in the anonymity of this forum. You have a date to the prom yet?

Anyway...I think this building is entirely appropriate for this up-town location. It will compliment the other highrise residential buildings in the area. Several more buildings of this size and style would look great and show dignity. Widens the the tax base of the area too.

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i think the tower looks kind of chic with the clean modern lines. they could have done better, but they could have done a lot, lot worse..
 

I think this building is entirely appropriate for this up-town location. It will compliment the other highrise residential buildings in the area. Several more buildings of this size and style would look great and show dignity. Widens the the tax base of the area too.

agreed.. i enjoy seeing clusters of residential towers in the same area for some reason. it gives a cool urban, yet pedestrian feel to the area. the uptown skyline is going to be very different in the next 3 years (once these 5 or more towers are completed that are going up along Post Oak). especially the northern portion of it. 

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I can almost understand the $1M+ condo... it's the $4,500/month fee that blows me away  (http://search.har.com/engine/dispSearchPrint.cfm?MLNUM=12651939&CLASS=6&sType=0&print=y&leadid=6&portalid=HAR)

 

That's like another $1M mortgage.

 

That is the reason that no matter how much money I have I would never want to own any condo. Its like you are still renting, you don't truley own it because you have to constanlty pay that much a month. Not for me! Its amazing that that many people can afford that though.

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Mar 3, 2014, 2:46pm CST

Luxury Uptown condos sell out by over half before groundbreaking
 

Luxury in Houston is about to get more spacious, causing buyers to quickly pull out their checkbooks.

 

Houston-based Interfin Cos. broke ground last week on its joint venture, a luxury high-rise condominium in Uptown, which features floor plans larger than any other in Houston.

 

It's already 60 percent sold out.

 

The tower will sit on 2 acres at the southeast corner of Post Oak Lane and South Wynden Drive, between San Felipe Street and Woodway Drive.

 

 

http://www.bizjournals.com/houston/blog/breaking-ground/2014/03/luxury-uptown-condos-sell-out-by-over-half-before.html

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I can almost understand the $1M+ condo... it's the $4,500/month fee that blows me away (http://search.har.com/engine/dispSearchPrint.cfm?MLNUM=12651939&CLASS=6&sType=0&print=y&leadid=6&portalid=HAR)

That's like another $1M mortgage.

These units are 4600 sq feet each. $1 per sqft for HOA fees in a highrise is not unheard of and many highrises that have few units (46 units in this case have to split the burden of all the Amenities, insurance, staff, and up-keep) have fees as high or higher than this.

A tough nut to swallow but my guess is that a bunch of folks buying here are paying cash for their condo so they have a place to stay the six times per year when they fly in from overseas....... The $4500 per month is likely not an issue.

It is amazing though.....

$4500 for Maint fee

$0 for mortgage because you paid cash

$4000 per month for taxes (guessing)....

Sooooo..... Even without a mortgage, for a $2.6m property, you are paying $8k+ per month for the place...... Wowza!

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It's amazing, I agree.  But ... there are people out there who have accumulated a lot of money over their lifetimes.  For example, someone who started a business and sold it for $20 million might retire and invest that money.  If they (conservatively) spend 4% of it per year.  That's $800K, or $66,666/month to spend.   

 

I've known some people who were smart, aggressive, and business-minded who did stuff like that.  I don't know their numbers exactly, but I think that's in the ballpark.  They are not the Oprahs, Kinders, or Mark Cubans, but they are quite comfortable.

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