Mandarin Oriental | 776 Boylston St | Back Bay

So throw some numbers out.

If a Mandarin-branded condo would sell for $x million, that same condo rebranded as a Waldorf would sell for $x-y million?

In other words, what kind of potential loss are the condo owners facing?
 
statler said:
So throw some numbers out.

If a Mandarin-branded condo would sell for $x million, that same condo rebranded as a Waldorf would sell for $x-y million?

In other words, what kind of potential loss are the condo owners facing?
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Well, let's play with the numbers.

A "modest" 2 BR/2.5 Bath Mandarin condo set the record for top price per sq. ft. in Boston last May at $3,880 per square foot. This was NOT a penthouse, just a pretty ordinary Mandarin unit. $12.5 million sale price.

If that price were to get knocked down to the previous record, due to a brand change (that record was a penthouse unit at the Four Seasons at $2,907 per square foot) then the owner would be looking at a $9.36 million price instead.

So that would translate to a more than $3 million loss -- enough for almost anybody to be pissed about.

http://www.boston.com/real-estate/l...GV84SY25mCakI/story.html#sthash.MGRJNbZP.dpbs

"For the moment, the Mandarin will keep its title as the most expensive place to live in Boston."
 
JeffDowntown said:
This is pretty much what the luxury brand surveys say over the past year. Occasionally the Taj brand makes it into the top tier.

Were the Mandarin Oriental to become a Four Seasons or a Peninsula, no one would care.
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Taj isn't bad, but their properties are rather inconsistent across the chain to be on 5-level.

The new FS property will be very nice due to it being a new built. People can complain about the Mandarin Oriental vs. Conrad, and the luxury brands, but they're pretty strong business/convention/meeting and tourism tools for cities/regions.
 
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statler said:
So throw some numbers out.

If a Mandarin-branded condo would sell for $x million, that same condo rebranded as a Waldorf would sell for $x-y million?

In other words, what kind of potential loss are the condo owners facing?
Click to expand...

When the Battery Wharf hotel-condo that opened with Fairmont managing it, before getting de-flagged not too long ago, did that hurt the condo values and selling appeal after it got de-flagged?
 
Oakley said:
When the Battery Wharf hotel-condo that opened with Fairmont managing it, before getting de-flagged not too long ago, did that hurt the condo values and selling appeal after it got de-flagged?
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I honestly do not know. It may not be a parallel; for some reason, the Mandarin in Boston is transacting at prices in the stratosphere, unlike any other Boston property. It seems to be in a class by itself.

Same question could be asked of Carlton House, the condos/rentals at the Taj (former Ritz).
 
JeffDowntown said:
I honestly do not know. It may not be a parallel; for some reason, the Mandarin in Boston is transacting at prices in the stratosphere, unlike any other Boston property. It seems to be in a class by itself.

Same question could be asked of Carlton House, the condos/rentals at the Taj (former Ritz).
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Premium product/brand (Mandarin Oriental), location, new built.

I suspect the new FS property will compete.
 
Globe: Mandarin Oriental hotel company to buy Boston Mandarin

The Mandarin Oriental International Limited plans to acquire the Mandarin Hotel it operates in Boston for $140 million, the company announced today -- a record-setting price for a Boston hotel.

Mandarin beat out a competing offer from Hilton Worldwide, the Virginia-based hotel giant, which in December submitted a similar $140 million bid for the Boylston Street hotel. As the long-time operator of the hotel, Mandarin had 30 days to make a competing offer.

[...]
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So after all that discussion it will remain a Mandarin Oriental.
 
Now, and ONLY now, can we truly live without fears.
 
This just in.... The duck boat people just put in an offer for $140.01M. They plan to knock the whole building down and go back to parking their tourist traps there like in the 90's.
 
Czervik.Construction said:
This just in.... The duck boat people just put in an offer for $140.01M. They plan to knock the whole building down and go back to parking their tourist traps there like in the 90's.
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Fear Not -- the original agreement allows Mandarin Oriental to have right of first refusal to match the highest bid

Still would have loved to see it turn into a Peninsula
 
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