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db650

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Everything posted by db650

  1. db650
    It's been stuck at around this number for a long time.
  2. db650
    I agree it makes sense in theory, but in practice, these buildings are too expensive so they are niche markets. I love the Giorgetti building nearby the Westmore, but it's not selling very well. Granted, the Westmore or priced slightly less expensive, and with smaller units. We will see how the market speaks.
  3. db650
    per http://www.giorgettihouston.com/ home page: "move in begins early 2020." Any updated pictures?
  4. db650
    Any sales update on this one? My instinct is that sales for these types of luxury new construction condos has slowed substantially. I do worry that demand is simply not here right now. There are plenty of nearby resales (including at the very nice 2727 Kirby) at this price point or less. Bosch appliances at this price point is also very surprising. I do like the design of the building but given the (relative) low cost of land even in the inner loop (compared to denser cities like San Francisco or NY), condos are going to remain a niche market.
  5. db650
    Some of the scaffolding is being taken down. This one looks like the outside is wrapping up.
  6. db650
    What is the ballpark cost difference for doing something in stone like limestone versus stucco? Is the difference that significant given the cost of these units to the buyer?
  7. db650
    I like it. I just wonder what the finished product will look like.
  8. db650
    Somehow now only 60 percent sold. Building to be finished in a few weeks. Interestingly, construction was delayed because the original floor heights came in short. " Construction was delayed before crews broke ground after Jamea and his brother, Sean Jamea, Oxberry’s other co-principal, realized the 10-foot ceilings critical for the desired aesthetic of the luxury condo project were a few inches short." https://www.bizjournals.com/houston/news/2019/10/21/photos-luxe-condo-building-wraps-up-construction.html
  9. db650
    This is a nice looking building. When do people start moving in?
  10. db650
    This one really slowed down. I speculated earlier in year it was due to poor sales but people pushed back. What’s going on here?
  11. db650
    For the bottom picture, is this the same side you took before?
  12. db650
    Any updates on this one. From afar, it doesn't look like they made much progress.
  13. db650
    The stone is beautiful. So glad there’s no stucco (at least so far).
  14. db650
    Sorry I meant to type 65 percent sold. As for progress there are 5 units listed on HAR. Assuming these are the only ones left, it’s still only 75 percent sold. I’m not sure what sales were at groundbreaking but they likely were 50 percent. They seem to have struggled afterward but not sure why.
  15. db650
    Not bad at all. As for the other sides, this building finished at around only 65 percent sold. Simple economics.
  16. db650
    Let’s be honest here. No matter what he builds or how tall it is, it will disappoint most people here. No matter how appealing the rendering is, the final project will fall far short of most people’s expectations.
  17. db650
    I'd love to know more about the financial incentives here? How much did he pay the HOA and what will they use the money for?
  18. db650
    I think that’s an old rendering from the last version of this building. Any update on if they sold a single unit? I am worried about the viability of this building given that it failed to get much interest the last time around. I did hear that the builder wants to occupy an entire floor of this building but it won’t count for presales to get loan.
  19. db650
    The River Oaks is a beautiful building but there is little overlap in market appeal. It’s full service with HOAs probably around double the Westmore. It’s also a much bigger building in terms of number of units, so it has a different feel. Finally, the units are much larger in The River Oaks so they are much more expensive, even assuming you can still get in for 700 a square foot. Other comparison buildings are the Revere and Giorgetti which are around 30 units. The Revere is more full service than the Giorgetti but both have much higher end finishes than the Westmore. But both the Revere and Girogetti also have much larger units than Westmore. So the Westmore does fit a niche of relatively modestly priced units because of smaller unit sizes and lower quality finishes. I was not not a big fan of the exterior design of the Revere, but it’s grown on me. A glass wall building wouldn’t be a good fit for the neighborhood, despite the San Felipe tower around the corner.
  20. db650
    The pricing starting at $960,000 is what I expected. What is surprising, however, is what you appear to get for this. It comes with mid range Bosch appliances. The cabinet maker is not specified, which likely means builder grade cabinets. The same goes for the tile work. I was, however impressed, with four layers of drywall at “party”walls. Is that an official term? There is also a limited customization, which seems like a mistake at this price point. On the plus side, I like how they have storage units on the actual residence floor. I also know the builder is top notch. Only the market will tell if there is demand for very expensive, on a per square-foot basis, smallish condos in a terrific location with mid range build outs and limited building services.
  21. db650
    The pricing starting at $960,000 is what I expected. What is surprising, however, is what you appear to get for this. It comes with mid range Bosch appliances. The cabinet maker is not specified, which likely means builder grade cabinets. The same goes for the tile work. I was, however impressed, with four layers of drywall at “party”walls. Is that an official term? There is also a limited customization, which seems like a mistake at this price point. On the plus side, I like how they have storage units on the actual residence floor. I also know the builder is top notch. Only the market will tell if there is demand for very expensive, on a per square-foot basis, smallish condos in a terrific location with mid range build outs and limited building services.
  22. db650
    They start at 960,000 which would put entry units around 580 per square foot. Other buildings nearby start at between 630 and 650 per square foot. The Westmore looks like it has few amenities and limited staffing which will mean lower HOA fees but also less of a reason to be in a building. You’re paying a lot more for a potential view, single floor living, and construction quality. We’ll have to see if there is a market for this when a bigger and nice townhome nearby is comparable in absolute price.
  23. db650
    These are still expensive (and more expensive than comparable townhomes in the neighborhood) but less expensive that recent projects in the area. The units are also smaller (most if not all appear to be 2 bedrooms) and have lower-end buildouts (e.g., Bosch versus the more typical Wolf or Gaggenau appliances). So this is a plus as it's a different demographic than buildings such as the Giorgetti and Revere which are very nearby. Even if land is very expensive, why are less expensive units with lower-end finishes not viable in the neighborhood or is the condo buyer in this part of town only in the luxury market?
  24. db650
    The stone work has begun and it looks really nice.
  25. db650
    Crane came down today. 80 percent sold per sign at sales office.
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