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db650

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  1. Keep in mind he’s only showing off the front. One can only imagine the back of the building!
  2. I believe they were originally part of the Pelican townhome project just to its east. Pelican ultimately decided not to build as many townhomes as originally planned.
  3. No, it’s south-west of the Revere. About 2 blocks away. It’s where the sales center was and next to Huntingdon.
  4. Confirmed at 2475 Mimosa source: http://www.pelicanbuilders.com/project_Lexington.html
  5. Some buildings did relatively well in Covid like the Revere, while others didn’t like the Giorgetti. The London House location, like the Paramount, is off a busy street. But in my option the LH has a better location than the Paramount. But they are both Randal Davis buildings, whatever that means to someone. I just don’t know if demand will be there. Mimosa Terrace is a few blocks away and supposedly breaking ground soon even though it’s only 30 percent sold. I like these infill projects but it’s costly to run a building with 16 (MT) or 23 (LH) units. And the Revere still has some units left despite being open for a year. I also wonder if the neighbors will organize against LH like they did with Paramount. The 17 story San Felipe office tower sort of paved the path for fall buildings on this block but I’m sure the SFH in River Oaks across the street will not be happy.
  6. The original asking pricing for units at the Arabella was in the mid 500 to upper 600 per square foot for all but the lowest floors/least desirable units. The median numbers you report for resales are much lower. You can’t compare asking prices to actual sales prices now as who knows what people will actually pay. Of course, only the developer knows the true selling price of most of the initial inventory as only the very high per square foot prices get reported to HAR. So this building either has a lot of undisclosed discounts or has depreciated…or possibly both.
  7. First listing hit the market. https://www.har.com/homedetail/2323-san-felipe-st-503-houston-tx-77019/15551253 665 per square foot for first floor with homes (floor 5) (bottom 4 floors look like parking). HOA is about .69 per square foot. I wonder who buys into his buildings at first. They all seem to follow a pattern of dropping 20-35 percent from the initial price for first few years when people resell their units. For example, the Arabella has about 20 percent of units for sale with prices to be had in the 400-500 per square foot range.
  8. I'm not sure we have a picture of the back of the building yet -- so I'm sure there's more to come!
  9. 12 stories? Taller than I thought. I guess we need the podium parking finished in the Randall Davis signature way on top of the residences.
  10. At one point, the builder bought an entire floor in this building. I wonder what percentage of the 30% is bought by the builder. Developers play all kind of games to show perceived interested in their properties, and "offers" is one of them. Offers don't indicate any interest because we don't know how serious they are. Why would you report an offer that ultimately gets rejected or doesn't go to contract? It's because you don't have actual sales under contract.
  11. Offers mean nothing. You can offer $5.00 for a unit. Reporting this metric is misleading and meaningless…that was my point. They’ve been trying to sell this building for about 5 years now. It’s not going well.
  12. 30 percent sold now. 8 offers implied 50 percent sold. Either they’re going backwards or use some creative language in their marketing before.
  13. New Randall Davis condo with 23 units https://londonhousehouston.com i couldn't grab a picture but he’s go a banner on the property too. Only 23 residences are planned for this boutique midrise condo in the heart of River Oaks. The timeless design is inspired by the neighboring townhomes and the elegant houses of London. This soon to be treasured development will have expansive views of The Galleria, Downtown, and overlooks the finest neighborhood in Houston.
  14. Maybe a new building. The English townhome Winfield Gate community is on the next block. This application says London House. The lot is 15,000 square feet. I’m guessing a midrise.
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