TheNiche Posted January 21, 2008 Share Posted January 21, 2008 The price of this particular unit has dropped considerably. The seller is now willing to accept an offer in the $220's. Please call me at 281-664-8341 if you know anyone that may be interested; the current pricing for this unit does not drop below $275k!Maintenance fees? Quote Link to comment Share on other sites More sharing options...
MyHomeHouston Posted January 21, 2008 Share Posted January 21, 2008 Maintenance fees?These run $0.39/sqft + $89 per month, so for this property you are looking at $384.23 / Month. Quote Link to comment Share on other sites More sharing options...
TheNiche Posted January 22, 2008 Share Posted January 22, 2008 These run $0.39/sqft + $89 per month, so for this property you are looking at $384.23 / Month.So on a 15-year note at 4.954% fixed for $225k, and with property taxes at about 3.48% each year, you expect someone to make an outlay of about $3.70 per square foot ($2,800) per month!? And on top of that, paying some fraction of irrecoverable closing costs both going in and getting out of it? Even on a 30-year note, the outlays only go down to $3.20. ...all that, and the effects of amortization.I mean, jeez...7 Riverway, the most expensive apartment project in the Houston area leases 1,100-square-foot units at or below the same monthly price, has a location that puts Mosaic to shame, doesn't carry the risk of dramatically increased maintenance fees once the HOA takes over from the developer, and on top of that covers any maintenance issues that may arise that a condo owner would otherwise have to deal with themselves.When it comes to highrise condos, rent! Quote Link to comment Share on other sites More sharing options...
ricco67 Posted January 22, 2008 Share Posted January 22, 2008 So on a 15-year note at 4.954% fixed for $225k, and with property taxes at about 3.48% each year, you expect someone to make an outlay of about $3.70 per square foot ($2,800) per month!? And on top of that, paying some fraction of irrecoverable closing costs both going in and getting out of it? Even on a 30-year note, the outlays only go down to $3.20. ...all that, and the effects of amortization.I mean, jeez...7 Riverway, the most expensive apartment project in the Houston area leases 1,100-square-foot units at or below the same monthly price, has a location that puts Mosaic to shame, doesn't carry the risk of dramatically increased maintenance fees once the HOA takes over from the developer, and on top of that covers any maintenance issues that may arise that a condo owner would otherwise have to deal with themselves.When it comes to highrise condos, rent!To some, that really isn't a consideration. Believe me, there are people (and corporations) that will buy into that building because of its location. Quote Link to comment Share on other sites More sharing options...
Jax Posted January 22, 2008 Share Posted January 22, 2008 has a location that puts Mosaic to shameThe location of Mosaic works better for some than Riverway does (ie: me). 1 Quote Link to comment Share on other sites More sharing options...
liammclaren Posted January 22, 2008 Share Posted January 22, 2008 Why would anyone want to live in a filing cabinet anyway... Quote Link to comment Share on other sites More sharing options...
TheNiche Posted January 22, 2008 Share Posted January 22, 2008 (edited) To some, that really isn't a consideration. Believe me, there are people (and corporations) that will buy into that building because of its location.Well yeah, there are some. I won't dispute that. And there are some that'll go for units twice the size and with less hassle and with better access to the park and with better access to museums and with better access to yuppie-white-people transit in towers and midrises along Hermann Dr.I only used 7 Riverway as an example because it has the highest average rents of any apartment project in the whole region. If you don't mind paying less, someone paying what they will for this unit in Mosaic could get a comparable or larger highrise unit anywhere they like. Edited January 22, 2008 by TheNiche Quote Link to comment Share on other sites More sharing options...
jgriff Posted January 22, 2008 Share Posted January 22, 2008 I've always thought that this place proves there are people out there with more money than brains. I wish them luck though, I'd hate to see this place wind up not selling out. Quote Link to comment Share on other sites More sharing options...
editor Posted January 22, 2008 Share Posted January 22, 2008 Interesting that when you did the math you came out to $2,800/month for an apartment that's running $225k. Apartments around here that cost $225k normally rent for $1,100-$1,500. I guess you're right about renting. Quote Link to comment Share on other sites More sharing options...
Trae Posted February 8, 2008 Share Posted February 8, 2008 Anybody have some newer shots for this? Quote Link to comment Share on other sites More sharing options...
Triton Posted February 8, 2008 Share Posted February 8, 2008 (edited) <br />Anybody have some newer shots for this?<br /><br /><br /><br /><br />I don't have any shots, but I can say that they're already working on the parking garage of the second tower. Edited February 8, 2008 by Triton Quote Link to comment Share on other sites More sharing options...
Jax Posted February 8, 2008 Share Posted February 8, 2008 Yeah its only a few stories, not much to see yet... 1 Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted February 25, 2008 Share Posted February 25, 2008 A couple of shots from this afternoon... 1 Quote Link to comment Share on other sites More sharing options...
HtownWxBoy Posted February 25, 2008 Share Posted February 25, 2008 Great Pictures! It's going to look so great once both towers are done. Quote Link to comment Share on other sites More sharing options...
jc281 Posted February 25, 2008 Share Posted February 25, 2008 anyone going to the Mosaic ULI event this wed? got some email about it last wk Quote Link to comment Share on other sites More sharing options...
amdave Posted March 11, 2008 Share Posted March 11, 2008 Has anyone been inside the Penthouse? I am seriously thinking of buying one near the end of 2008. It just seems like a cool place to live.But, I want to know if it looking like it will be worth the money (1.3 mil listed, although I am sure it will come down).I can only hope the current economic slowdown and impending housing market troubles will allow me to get a good deal before the end of 2008. Quote Link to comment Share on other sites More sharing options...
JWW Posted March 11, 2008 Share Posted March 11, 2008 How was the ULI event at the Mosaic the other week? Also, has anyone gone to the "Sunday Funday" party at the Mosaic that was supposed to have started last month? Quote Link to comment Share on other sites More sharing options...
TheNiche Posted March 11, 2008 Share Posted March 11, 2008 How was the ULI event at the Mosaic the other week?Yep, and I can say that it's a pretty spectacular project. The penthouse wasn't finished yet and was without lighting, but when you stand right at the floor-to-ceiling windows at night and look out towards downtown, that you are immersed in pitch blackness makes it seem almost as though you're floating in space.The views are spectacular. Reliant Park, the TMC, Uptown, the Museum District, and Downtown all merge into one massive skyline and 288 acts as a river of light.But the price points suck. Quote Link to comment Share on other sites More sharing options...
ricco67 Posted March 11, 2008 Share Posted March 11, 2008 How was the ULI event at the Mosaic the other week? Also, has anyone gone to the "Sunday Funday" party at the Mosaic that was supposed to have started last month?I saw the "DTOX" ad in this month's "Envy" and was a surprised by it. I might go just to check it out. Strictly for research of course. Quote Link to comment Share on other sites More sharing options...
closethedeal Posted March 12, 2008 Share Posted March 12, 2008 Just a note of caution for anyone considering buying/living at the Mosaic. I attended a function along with many others last July. My car and another attendee had our cars broken into. Granted these things happen, though a resident who witnessed the break-ins said it happens all the time in the area as there are/were no security measures in place. What has happened (or should I say NOT) has very much disappointed me and made me leary of the people who run it, especially one of the principals, Ken Manfredi. I was told by their PR person to submit my invoice for getting my broken window replaced and Ken would personally make sure I would be reimbursed. After submitting my invoice TWICE, several unreturned phone calls and emails later, I have yet to receive any word, much less reimbursement. I chose the most inexpensive glass company so not to be greedy (the range was from $175-$550). I wanted to make sure to spread the word as it definitely left a sour taste in my mouth from their "people." I believe a person is as good as their word which clearly is anything but true. Quote Link to comment Share on other sites More sharing options...
bkjones98 Posted March 14, 2008 Share Posted March 14, 2008 Just a note of caution for anyone considering buying/living at the Mosaic. I attended a function along with many others last July. My car and another attendee had our cars broken into. Granted these things happen, though a resident who witnessed the break-ins said it happens all the time in the area as there are/were no security measures in place. What has happened (or should I say NOT) has very much disappointed me and made me leary of the people who run it, especially one of the principals, Ken Manfredi. I was told by their PR person to submit my invoice for getting my broken window replaced and Ken would personally make sure I would be reimbursed. After submitting my invoice TWICE, several unreturned phone calls and emails later, I have yet to receive any word, much less reimbursement. I chose the most inexpensive glass company so not to be greedy (the range was from $175-$550). I wanted to make sure to spread the word as it definitely left a sour taste in my mouth from their "people." I believe a person is as good as their word which clearly is anything but true.I think the PR person was just being diplomatic and/or trying to avoid any immediate confrontation. Now, I can certainly sympathize with having windows busted out, but I Quote Link to comment Share on other sites More sharing options...
musicman Posted March 14, 2008 Share Posted March 14, 2008 That does suck about your car, however, but that's living in the city.knock on wood Quote Link to comment Share on other sites More sharing options...
Gary Posted March 14, 2008 Share Posted March 14, 2008 That does suck about your car, however, but that's living in the city.Yep. I've got a buddy who just got a place close to the corner of Kirby and Alabama, and he is having major problems with cars being broken into. Especially if there their parked in the street. Quote Link to comment Share on other sites More sharing options...
rsb320 Posted March 14, 2008 Share Posted March 14, 2008 Sorry Gary, but it's "They're". Quote Link to comment Share on other sites More sharing options...
musicman Posted March 14, 2008 Share Posted March 14, 2008 Sorry Gary, but it's "They're". he had a 33.3% of getting it write, wright? LOL Quote Link to comment Share on other sites More sharing options...
Gary Posted March 14, 2008 Share Posted March 14, 2008 (edited) he had a 33.3% of getting it write, wright? LOLIt's real easy to be a smart ass over the internet isn't it?Edit: Maybe i can join you at the Happy Day lounge, and we'll talk. Edited March 14, 2008 by Gary Quote Link to comment Share on other sites More sharing options...
musicman Posted March 14, 2008 Share Posted March 14, 2008 It's real easy to be a smart ass over the internet isn't it?Edit: Maybe i can join you at the Happy Day lounge, and we'll talk.the more the merrier. any disney flicks will be welcomed as well. Quote Link to comment Share on other sites More sharing options...
amdave Posted March 14, 2008 Share Posted March 14, 2008 One of the reasons I am thinking about mosaic is b/c there seems to be more young people there. While 2727 and Turnberry are probably better, I could see myself hangin with a bunch of rich old stuffy types - not hot young women! Quote Link to comment Share on other sites More sharing options...
bkjones98 Posted March 14, 2008 Share Posted March 14, 2008 It's real easy to be a smart ass over the internet isn't it?Edit: Maybe i can join you at the Happy Day lounge, and we'll talk. Yea, it's called trolling. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted March 14, 2008 Share Posted March 14, 2008 Come on folks, it's Friday - no time for bickering! And Happy Days is only for good times! 1 Quote Link to comment Share on other sites More sharing options...
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