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Aution is going to be on March 12 and I believe is going to be a "live" auction at the building. There are something like 20 units for auction and several are supposed to be "no reserve" (to borrow and eBay term) where high bidder gets the unit, regardless of final price.

Downtown is coming around. Glad to see this conversion succeeding...

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Aution is going to be on March 12 and I believe is going to be a "live" auction at the building.  There are something like 20 units for auction and several are supposed to be "no reserve" (to borrow and eBay term) where high bidder gets the unit, regardless of final price. 

Downtown is coming around.  Glad to see this conversion succeeding...

I'm not sure I'd call a "no-reserve" auction a successful conversion. It seems like there must be more to this story. Why are units being auctioned, especially with no reserve? Sounds like someone is desperate.

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Does anyone have any first hand knowledge on the interior of these units? Through second-hand information I had heard they were less than well built. I wanted to check them out last time I was downtown but there wasnt anyone showing that day.

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  • 3 weeks later...

I lived in the St. Germain for two and a half years and still have many friends that reside there. I think that the auction is being held in order to get the requisite number of units sold so that the financing for the entire deal will go through. There is a magic number at work here, but I'm not sure if that number is meant to be public.

If you are facing the corner of the building on Capitol and Fannin, my unit was directly above the St. Germain sign atop the garage. My unit was a little under 2500 square feet, 3 bed, 2 bath, 2 stories. Private patio on the sixth floor near the public one...I'll def. miss it.

As far as the interiors go, the walls could be a little thicker in places. Many of the units are cut up in interesting ways, which leads to the unfortunate situation of having several shared walls. Some of the polished cement floors are beautiful. Really, every unit is unique. When I first moved from Midtown to Downtown, the St. Germain won me over because it just felt more urban and "lofty" than say...the Rice did. The residents are also quite a bit younger at the St. Germain, so if you're the type that demands absolute quiet at 10:00 PM, this might not be an ideal choice.

I have some pictures of the interior of my unit at the following URL:

http://www.bcanon.com/705main

I took them as an afterthought my last night there, but you still get an idea of the space...

I moved next door to the Capitol Lofts in October of 2004 and would be happy to field any questions about either building...

-bcanon-

Does anyone have any first hand knowledge on the interior of these units? Through second-hand information I had heard they were less than well built. I wanted to check them out last time I was downtown but there wasnt anyone showing that day.

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Also does anyone have any info about how to contact someone regarding this auction? Email, phone number, anything? Everything I've found through google turned up a dead number or email.

<N/M I found it through the Karpas site>

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It was just too much space for one person. It was wonderful being able to wander around from room to room, but in the end I traded the cavernous feel of my loft at the St. Germain for a smaller unit at Capitol with nicer finishes and fixtures. My A/C bill was also $400+ in the summers, over three times the amount of my current bill. Some of this was due to an underpowered A/C unit for the downstairs area. When they outfitted it, there was a building to the East of my unit blocking the morning sun. Once they tore that down to make room for the pit that is there now, the amount of direct sun on the East wall made the three rooms downstairs very difficult to keep cool. So if anyone is looking at unit #214 at the St. Germain, be sure to negotiate for an A/C allowance for the downstairs zone.

Another factor: When I took residence at the St. Germain, they had yet to break ground on the Light Rail project. Main St. then turned into a mud pit lined with orange cones and barrels. The view over Main Street has improved tremendously since I first moved downtown. Watching the city wake up while having breakfast has now become one of my favorite morning activities. My front picture window looks out over Main Street and one of my favorite buildings downtown, the Chase Bank Building (old Gulf building).

Finally, the Sub-Zero and black granite in the kitchen, Chinese marble in the bathroom, spalted pecan floors, and the 27 foot long balcony attached to the bedroom via french doors won out over the finishings of the St. Germain. I understand that you can buy the units at the St. Germain "as-is" or at one of two other finish levels. That should do a lot as far as making them a little less "apartment-y", but I'd still like to see one finished off in to their "Platinum Level" spec before I'm 100% sold on that.

Quite a few friends are in the process of buying their own units at the St. Germain. If nothing else, the building has a great sense of community. Having the Flying Saucer below you also makes for a great common "living area".

Hope this ramble was of some help to you...

Might I ask why you moved?

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Very interesting.  I called to find out the story and they're auctioning 20 units in order to get to their pre-sale requirement of 40 units. 

Has anyone ever heard of this type of sales method before?

This is not unusual at all, just not common in Houston.

An auction is just a way to get things done faster. Selling an entire building is not unlike selling every house in a neighborhood - it doesn't usually happen in just a couple of months. Randall Davis has several major new construction projects under development in Houston, Galveston, and Las Vegas. Word has it that he may sell all of his rental properties if the St. Germain sale works out as hoped.

Two friends are purchasing units in St.Germain and others are considering it. It's a fantastic location, and the as-is units are a very competitively priced per sq. ft. Alas, the best deals were two months ago before prices went up on the more popular one-bedroom units. The auction may offer a chance for a great deal or two, but it's an auction so you never know.

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This is not unusual at all, just not common in Houston. 

An auction is just a way to get things done faster. Selling an entire building is not unlike selling every house in a neighborhood - it doesn't usually happen in just a couple of months.  Randall Davis has several major new construction projects under development in Houston, Galveston, and Las Vegas. Word has it that he may sell all of his rental properties if the St. Germain sale works out as hoped.

Two friends are purchasing units in St.Germain and others are considering it. It's a fantastic location, and the as-is units are a very competitively priced per sq. ft. Alas, the best deals were two months ago before prices went up on the more popular one-bedroom units.  The auction may offer a chance for a great deal or two, but it's an auction so you never know.

Condo conversions are a no-brainer for developers these days, but it certainly makes me wonder about demand if they're resorting to an auction to spur sales. 20 units since November is a mediocre pace, especially considering existing rental tenants' potential interest. I'd be curious to hear how it goes tomorrow.

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I took a look at some of the units going up for auction tomorrow and I was a little underwhelmed. I looked at a loft for $125k, a one bedroom facing north with a detached patio for $205k and a smaller one bedroom facing main for $210k (I thought that was rediculous, you can see main better from the one on the north side of the building.. stupid premiums). What underwhelmed me was the cabinetry, countertops and bathroom fixtures. I wish I'd seen some of the units with upgraded trim.

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  • 2 years later...

I got a job downtown and I am now trying to get away from the suburb commute asap. I've checked out the Heights, Midtown, and now I'm checking out Downtown. I love the idea of walking to work and, admittedly, I'm kinda embarrassed that it took me so long to look into DT.Anyway, there is a loft on St. Germain that fits within my price range without a really high maintenance fee.

Is St. Germain a good place to be?

Are the walls too thin?

Is the 4th level a bad level (the one I'm interested in is at that level but so are most of the available units)?

Any unusual reason for the "market adjustments" that have caused the reduced prices of many of the lofts there?

Any thoughts, really, that would help in considering st. germain?

Is DT still an up and coming place or is it fading (I hear both sides on this forum)?

I know there was a thread on st. germain but it was awhile back so I'm hoping to get the latest views. I also don't expect every question answered but any new information definitely helps so...thanks!

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I got a job downtown and I am now trying to get away from the suburb commute asap. I've checked out the Heights, Midtown, and now I'm checking out Downtown. I love the idea of walking to work and, admittedly, I'm kinda embarrassed that it took me so long to look into DT.Anyway, there is a loft on St. Germain that fits within my price range without a really high maintenance fee.

Is St. Germain a good place to be?

Are the walls too thin?

Is the 4th level a bad level (the one I'm interested in is at that level but so are most of the available units)?

Any unusual reason for the "market adjustments" that have caused the reduced prices of many of the lofts there?

Any thoughts, really, that would help in considering st. germain?

Is DT still an up and coming place or is it fading (I hear both sides on this forum)?

I know there was a thread on st. germain but it was awhile back so I'm hoping to get the latest views. I also don't expect every question answered but any new information definitely helps so...thanks!

I looked at the St. Germain ~2001, didn't choose it because they were only rental. But I liked the interesting (but not over-interesting) floor plans, and especially being so close to a lot of things -- restaurants (Flying Saucer!), theater, clubs, rail, bus, freeway, sports -- but you're not right in the middle of the party. And the building has a great look from the outside.

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I actually know the loft that you are looking at. I live in the 4th floor of St. Germain and its an awesome place to live in!!! You won't regret it.

I have heard that you can hear your neighbors in the next unit. Is this true in your situation? The building seems to have that reputation because I have heard that comment from different people. Also, is the maintenance fee based on square footage or do the small units pay the same as the large units?

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I have heard that you can hear your neighbors in the next unit. Is this true in your situation? The building seems to have that reputation because I have heard that comment from different people. Also, is the maintenance fee based on square footage or do the small units pay the same as the large units?

I am currently leasing a loft, so I wouldn't know what the maintanance fee is based on. You can hear your neighbors in the next unit, but its very minimal noise.

Other than that, its a great place to live in. Very quiet for the most part.

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  • 1 year later...

St-Germain-416-living-1.jpg

Downtown studio loft located on 4th floor #416

of the St. Germain Lofts with Main St views!

Reduced to $79,000!!!

(Sale Pending)

This charming studio loft in Downtown Houston's hip loft building, the St. Germain, is a stunning example of true loft living! Equipped with a Murphy Bed, stainless appliances granite countertops in the kitchen and bathroom and a walk-in marble shower make studio living a thing of luxury!

The St. Germain is a historic building (1921) that was renovated in 2004. It features valet parking, a concierge, a private billiards parlor, a fitness room, a huge party room, a roof top terrace with breathtaking views and limited access via a new key FOB system allowing "residents only" access to the elevators and stairwells. Direct access to the MetroRail and minutes away from just about everything Downtown has to offer!!

studio / 1 bathroom

568 sq. ft. / builder

FEATURES

-100 year-old Birds Eye Maple hardwoods

-Built in Murphy bed

-Stainless steel refrigerator

-Washer/Dryer included

-Ceiling fan to be installed soon

-Granite Countertops in Bathroom & Kitchen

-Huge walk-in marble shower

-Stained concrete entry and bath

-North facing unit with custom Solar Shades that help with the electricity bills

-Oversized parking space, great for guests!

Edited by RealtorHouston
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St. Germain #413

705 Main

Market Adjustment!

$170,000

st-germain-413-living-room.jpg

Located by many Downtown restaurants and nightlife, this stunning loft is the epitome of downtown modern living. Upon entry, one finds themselves in a large living/kitchen/dining area. Three large windows fill the space with natural light that gleams off the bamboo floors, and with so much space between the living room an kitchen, an island on casters could be added for more counter space. The unique angular plan and exposed brick lends it to an array of arrangements. The second bedroom with large walk-in closet could also be used as a study or second living room!

2 bedroom / 1 bath 1,020 sq. ft. per builder

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  • 1 month later...

Bumping an ancient thread.

Maintenance looks to be about 70 cents per square foot. Maybe I'm just not accustomed to downtown maintenance fees, but what all does this include, besides the basics? I assume it includes a parking space, building repairs, the concierge at the desk, cleaning of common areas. No utilities though, right? I know some buildings roll the utilities in as well.

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Do not face the Main St. side if at all possible...you can hear EVERYTHING on the street. I know it's DT and you should expect to hear street noise, but there are clubs/bars on Main and it get rowdy on the weekends. My boyfriend and I would wake up every Friday and Saturday night because the club crowds were so loud. The only plus is that we had an awesome view to see several fights :lol:

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Do not face the Main St. side if at all possible...you can hear EVERYTHING on the street. I know it's DT and you should expect to hear street noise, but there are clubs/bars on Main and it get rowdy on the weekends. My boyfriend and I would wake up every Friday and Saturday night because the club crowds were so loud. The only plus is that we had an awesome view to see several fights :lol:

Assuming you guys rented, were your utilities included or did you have to set them up yourself?

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