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Marlowe: Condominium High-Rise At 1211 Caroline St.


Dakota79

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incredible illustrations of the marlowe site hindesky!  however, i wonder what exactly is going on?

The guys said it was a sales office for a 17 story building, I thought it was going to be a little higher, I guess we'll see soon.

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I looked up 1311 Lamar and 1311 Caroline on hcad and both came up invalid. Anyone know why? Also, anyone else know what his company name is listed as? Is it RD Investments?

 

 

Talked to these guys about what they were doing and what the building was, they said it was going to be the sales office. I guess it's happening, condos for downtown.

 

 

 

CW331go.jpg

 

Edited by lockmat
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I looked up 1311 Lamar and 1311 Caroline on hcad and both came up invalid. Anyone know why? Also, anyone else know what his company name is listed as? Is it RD Investments?

 

This building is owned by Bejjani & Associates if I remember correctly. It is being leased by RD.

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I looked up 1311 Lamar and 1311 Caroline on hcad and both came up invalid. Anyone know why? Also, anyone else know what his company name is listed as? Is it RD Investments?

This condo sales office building used to be a ticket broker/re-seller,  it's on 1311 Polk. I assume the Marlowe will front Caroline according to the layout diagrams.

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Think this is going to be a tough sell. Prices of $465 - $600 / sq foot downtown are unheard of. Current market seems to be $200 / sq foot for condos and historic lofts. Even if one prefers a brand new condo with tons of amenities, it's hard to bring oneself to paying 2x - 3x current market prices.

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Think this is going to be a tough sell. Prices of $465 - $600 / sq foot downtown are unheard of. Current market seems to be $200 / sq foot for condos and historic lofts. Even if one prefers a brand new condo with tons of amenities, it's hard to bring oneself to paying 2x - 3x current market prices.

The only real comps for these Marlow highrise units in downtown is the 4 Seasons highrise condos, essentially across the street. $400+ psf is what they go for.

Commerce towers - the only other highrise condo, I think -- is in the $330-ish range but is held down for a number of factors IMO some within their control and some not.

Edited by UtterlyUrban
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The only real comps for these Marlow highrise units in downtown is the 4 Seasons highrise condos, essentially across the street. $400+ psf is what they go for.

 

 

Quite right.  And the Four Seasons condos are not even completely comparable, IMO.  For example, they have no balconies and their layout is dated (because they were built in the early 80s.)  There is just no for-sale product downtown that is at all comparable to this proposed building. 

 

The closest  comparable building is probably 2727 Kirby.  Sales in 2727 Kirby over the past 15 months have ranged from $512.48/sq. ft. to $736.03/sq. ft., with an average sale price of $637.05.

Edited by Houston19514
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