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db650

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Everything posted by db650

  1. db650
    This is the same building as the Revere, so depending on your timeframe, it could work. The River Oaks is a very nice building. It's got a lot more land than either the Revere or the Lexington (will have). The R.O. does have lower ceilings than the other two buildings, but has more amenities such as a pool and larger gym. But it's a lot bigger than either the Revere (30 units) or Lexington (40 units), so it depends on if you want more of a boutique feel or a larger building. I'd encourage you to look at both buildings. If you like the Revere, I think the Lexington will be similar but a little larger.
  2. db650
    The Revere is right around the corner and has a small dog run in the back and pet bathrooms on balconies. It is about two years old and I believe there are a fair number of pets in the building. It just might be a little expensive for your budget but worth seeing what is available as the building sold out.
  3. db650
    So you think they're building seven stories with a 5,289 footprint on a 12,500 lot? This doesn't make a lot of sense to me. Given that 7PH-E is 3,919 square feet and 7PH-W is 4,346 square feet, I don't see how your math adds up. I also checked the floorpans on the Mimosa Terrace website and they are all single story. One option is that they are re-concepting the building and the floorpans are no longer accurate. But in any case, it doesn't make economic sense to only have a 5,289 footprint on this size lot.
  4. db650
    5,289 square feet seems the size of a home, not a condo. Maybe townhomes? It’s got a six million total cost which is way too low for this condo project.
  5. db650
    The most recent document posted by Hindesky appears to be for a 5,289 square foot single family residence. This used to be a condo but perhaps they are changing it to a SFH due to lack of demands. They have been trying to sell this condo for many years.
  6. db650
    So this project is dead? This permit is for a single family home.
  7. db650
    Keep in mind he’s only showing off the front. One can only imagine the back of the building!
  8. db650
    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.
  9. db650
    No, it’s south-west of the Revere. About 2 blocks away. It’s where the sales center was and next to Huntingdon.
  10. db650
    Confirmed at 2475 Mimosa source: http://www.pelicanbuilders.com/project_Lexington.html
  11. db650
    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.
  12. db650
    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.
  13. db650
    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.
  14. db650
    I'm not sure we have a picture of the back of the building yet -- so I'm sure there's more to come!
  15. db650
    From 1.5 Million...
  16. db650
    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.
  17. db650
    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.
  18. db650
    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.
  19. db650
    30 percent sold now. 8 offers implied 50 percent sold. Either they’re going backwards or use some creative language in their marketing before.
  20. db650
    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.
  21. db650
    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.
  22. db650
    I wonder if he might be moving the building. That piece of land on San Felipe, I believe, just hit the market for sale. This might bring another neighborhood battle that maybe he thinks he could win because it's next to the San Felipe tower Hines built.
  23. db650
    His buildings appear to depreciate very fast. He does offer a lot of amenities and a bold taste, if that’s your thing. But if you look at recent sales data at Arabella and Astoria, pricing is way down from original.
  24. db650
    25 percent sold, per sales office email.
  25. db650
    Interesting that they are using GT Leach, the GC for many of Randall Davis’s buildings. Hopefully this one will turn out differently.
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