I wouldn't be surprised if was even higher. I was reading either here or elsewhere that there will be a crazy staff to resident ratio, butlers and all sorts of other stuff. When that is a hotel and residence (like the Ritz or FS) the costs can be spread out between hotel and condo. Here it is ultra high end hotel services in a small condo building. I know a lot of the people that own here will not care, but say a 1 Br has fees of ~$2K, that is $24K per year. That means the apartment has to appreciate in value $24K per year in perpetuity to break even. Yikes.
“There has been a lot of interest from Chinese and Asian buyers but more for investments, and that’s not something we’re interested in at this stage,” he said. A potential buyer from the investment community wanted to buy six units, but Cronin said his company turned them down.
Agreed this is a good thing in my opinion. However, what usually ends up happening of that some initial buyers simply either flip for a profit to the same investors or wait a couple of years to do the same. It’s difficult to control resales currently.If that's accurate, that's very interesting (and good)
Great stuff. Thanks for the offer, to take off some of the load, but if you haven't noticed I'm a nosey bugger and will still be stopping by from time to time. I see they have up the new billboard. Seems like a bit of a waste of money, but that's just me.My office is the corner one above the Dunkin' in WTC, so I've had a front row seat to this and Echelon. Now that I'm online and since it's out my window, I feel a personal obligation to keep up with the progress and take a small, small portion off Beeline's loaded plate.
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They did. It’s now a detour to cross. Scaffolding is down at echelon, sidewalk is almost done and trees are waiting to be planted, so there may be a coordination effort there.View attachment 554
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