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Museum Tower

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Tucy
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Re: Museum Tower

Postby Tucy » 26 Jun 2018 11:59

tamtagon wrote:
That there's an apartment in a troubled highrise listed at about the same price point, and that apartment sold is significant. The hyperbole in some of my booster club observations are gross to me too sometimes, but the threshold was crossed - an apartment sold for (probably) more than $10 million. Just because it's an even number, the next milestone is $20 million, which would approach the top floor of Dallas County residential sales.

I will say, though, that even I don't to know if Dallas will ever have apartments reaching an appraised value comparable to estates like that one Beal bought from Hicks. Could you imagine?


Funny you would say this when earlier you told us that "Dallas has now become a place where the most expensive condos are as pricey as the most expensive house estates". Such diametrically opposed posts would cause a good deal of cognitive dissonance in most people. ;)
Last edited by Tucy on 26 Jun 2018 12:02, edited 1 time in total.

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Re: Museum Tower

Postby tamtagon » 26 Jun 2018 12:01

broad strokes

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Tucy
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Re: Museum Tower

Postby Tucy » 28 Jun 2018 11:18

I just got an email from Museum Tower promoting the "Final Penthouse Opportunity". It turns out this final penthouse opportunity is unit #4202, a previously non-existent unit.

4202 is a half-floor penthouse.. Half of the previously-marketed 4201.

So much for the fantasy of $20+ Million or even $10+ Million condo sales, or condos as expensive as the most expensive estate homes.
If Museum Tower is the gauge, the high-water mark for condos now appears to be closer to $6 Million, at most.

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Re: Museum Tower

Postby Tucy » 28 Jun 2018 13:01

In light of this morning's news that they have added a unit (the new 4202), I'm updating the status as of May 2018

One unit sold.
95 sold in 66 months. (1.44 per month) 21 remaining.

Rolling 12-month sales: 14 (1.17 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 9 months.
Sellout projection, based on the pace of sales over the prior 12 months: 7 years.

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Re: Museum Tower

Postby Tucy » 28 Jun 2018 13:10

NdoorTX wrote:A client of mine has rented a unit on floor 6- the views are great from "down low" as well! Her in building realtor said the top floor penthouse had sold & the sub penthouse was under contract for half the floor. His view of sales were not like Tucy's. Of course he's a in home realtor, but he seemed sincere when he said they were on pace to sell out by the end of the year. :shock: :idea: :shock:


See what I mean about Realtors and their exaggerations? The Realtor told your client that the top floor penthouse had sold. Kinda sorta true. He/she just left out the part that they apparently subdivided it and sold half of the top floor, meaning they actually sold one of the top floor penthouses.

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Re: Museum Tower

Postby tamtagon » 29 Jun 2018 11:39

Tucy wrote:
tamtagon wrote:I will say, though, that even I don't to know if Dallas will ever have apartments reaching an appraised value comparable to estates like that one Beal bought from Hicks. Could you imagine?


Funny you would say this when earlier you told us that "Dallas has now become a place where the most expensive condos are as pricey as the most expensive house estates". Such diametrically opposed posts would cause a good deal of cognitive dissonance in most people. ;)


I see the confusion in my commentary. Maybe I was drunk, but even with spellcheck the sentences would have more typing errors, so probably only giving a couple of minutes to issue a statement :D

I'll try to clarify, quickly.... a comment like "Dallas has now become a place where the most expensive condos are as pricey as the most expensive house estates" is really only considering what's for sale at the same time. The list-then-actual price of these million dollar highrise dwellings are all from recent construction; I realize that parameter had never been posted, but do many condos built before 2010 approach the million dollar for sale target? There may only be a hundred condos selling for a million or more.

I'm also limiting the sticker-price consideration to the greater downtown area.

The appraised value of condos is a whole different deal. At the rate we're going, it may be take another generations (?!?!) before city living in Dallas has been established to the point that families en masse have the ability to consider the pros and cons of condo purchase in the same realm as a single family home. Schools, parks w/playgrounds, perceived neighborhood safety... families raising children in the greater downtown area choosing to purchase a condo are pioneering that environment; one day the setting will offer enough to gain more equal footing when compared to a house with a yard. Until this happens the appraised value of a condo needs a telescope to view the appraised values of home estates in Preston Hollow, Bluffview, Park Cities....

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Re: Museum Tower

Postby Tucy » 05 Jul 2018 13:47

June 2018

One unit sold.
96 sold in 67 months. (1.43 per month) 20 remaining.

Rolling 12-month sales: 15 (1.25 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 9 months.
Sellout projection, based on the pace of sales over the prior 12 months: 6 years, 11 months.

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Re: Museum Tower

Postby tamtagon » 10 Jul 2018 09:41

tamtagon wrote:
Tucy wrote:
tamtagon wrote:I will say, though, that even I don't to know if Dallas will ever have apartments reaching an appraised value comparable to estates like that one Beal bought from Hicks.


Funny you would say this when earlier you told us that "Dallas has now become a place where the most expensive condos are as pricey as the most expensive house estates". Such diametrically opposed posts would cause a good deal of cognitive dissonance in most people. ;)


I'll try to clarify, quickly.... a comment like "Dallas has now become a place where the most expensive condos are as pricey as the most expensive house estates" is really only considering what's for sale at the same time.
... Until this happens the appraised value of a condo needs a telescope to view the appraised values of home estates in Preston Hollow, Bluffview, Park Cities....


Here's another DMN blog about fancy big homes on acreage. This one on the edge to town (Flower Mound):

https://www.dallasnews.com/business/real-estate/2018/07/09/want-live-french-chateau-fantasies-try-8-acre-flower-mound-estate

The 14,906-square-feet estate, which sits on 8.34 acres in the gated Chateau du Lac community near Grapevine Lake...

"It's probably the most spectacular opportunity in the state of Texas," said Elite Auctions CEO Randy Haddaway.

Because it's being sold at auction, there's no telling what the home's going price will be. But the Denton County assessor values the property and improvements at a total of $3.1 million.

Pricey houses like these don't sell fast — it can take anywhere from three months to three years to 10 years...


The estate looks fantastic, and I know that part of Denton County is pretty (prettier in Roanoke) and the appraised price is $3 million.

Then consider a Museum Tower penthouse listed for sale at $14 million maybe selling 10. Then we find out it was not the whole floor, but only half.... That's a pretty pricey half floor without a yard.

So, ya, among the most expensive dwellings being sold in North Texas these days are high rise condos in the greater downtown Dallas area.

:ugeek:

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Re: Museum Tower

Postby Tucy » 10 Jul 2018 10:14

tamtagon wrote:
tamtagon wrote:
Tucy wrote:
Funny you would say this when earlier you told us that "Dallas has now become a place where the most expensive condos are as pricey as the most expensive house estates". Such diametrically opposed posts would cause a good deal of cognitive dissonance in most people. ;)


I'll try to clarify, quickly.... a comment like "Dallas has now become a place where the most expensive condos are as pricey as the most expensive house estates" is really only considering what's for sale at the same time.
... Until this happens the appraised value of a condo needs a telescope to view the appraised values of home estates in Preston Hollow, Bluffview, Park Cities....


Here's another DMN blog about fancy big homes on acreage. This one on the edge to town (Flower Mound):

https://www.dallasnews.com/business/real-estate/2018/07/09/want-live-french-chateau-fantasies-try-8-acre-flower-mound-estate

The 14,906-square-feet estate, which sits on 8.34 acres in the gated Chateau du Lac community near Grapevine Lake...

"It's probably the most spectacular opportunity in the state of Texas," said Elite Auctions CEO Randy Haddaway.

Because it's being sold at auction, there's no telling what the home's going price will be. But the Denton County assessor values the property and improvements at a total of $3.1 million.

Pricey houses like these don't sell fast — it can take anywhere from three months to three years to 10 years...


The estate looks fantastic, and I know that part of Denton County is pretty (prettier in Roanoke) and the appraised price is $3 million.

Then consider a Museum Tower penthouse listed for sale at $14 million maybe selling 10. Then we find out it was not the whole floor, but only half.... That's a pretty pricey half floor without a yard.

So, ya, among the most expensive dwellings being sold in North Texas these days are high rise condos in the greater downtown Dallas area.

:ugeek:


You do love your fantasies, don't you?

First, there is absolutely ZERO reason to think that the half-floor at Museum Tower sold for anything close to $10 Million. None.

Second, that property you found in far-out wherever is interesting, but what else? Yes, there are homes for sale in the North Texas area for more than $3 Million. Many of them. Literally hundreds of them. There are also quite a few homes for sale for more than $10 Million, a price level not seen in the high rise condo market, so far as we are aware.

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Re: Museum Tower

Postby tamtagon » 10 Jul 2018 12:14

Tucy wrote: There are also quite a few homes for sale for more than $10 Million, a price level not seen in the high rise condo market, so far as we are aware.


Source? How many homes are currently listed at $10 million+?

I knew eventually you would acknowledge the threshold I excitedly pointed out, thinly veiled by your pre-requisite camouflage saying the observation is a fantasy, another delusional hyperbole.

Museum Tower half-penthouse listed for $14 million and it sold; we'll have to wait and see if we ever learn the actual sale price, and whether it fell under the $10 million threshold. Probably more than 10 I'd say.

I also remember Ritz had a penthouse listed for more than $10 million, and I think it sold a few years back, but I do not think that one crossed the line, just aimed past the line.

RE: Flower Mound estate -- this shows what it takes to get a list price $3 million just north of Grapevine Lake and contributes to the awareness that downtown area condo values may be greater than we think. $3 Million for all that beautiful yard a privacy, compare and contrast to the downtown area amenities and a $3 Million dollar condo -- a noteworthy change to the quality of life in the downtown area. People have been complaining about rent prices in the fancy highrises, but they may actually be a good value for the money, considering all the area has to offer now. --that's what's interesting about a small estate in Flower Mound listed for $3 million.

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Re: Museum Tower

Postby dukemeredith » 10 Jul 2018 12:26

For what it’s worth, I don’t think that house at auction in the Chateau Du Loc community will sell for only $3mm. There’s another home for sale in that same community for over $12mm, and it’s comparable in size and finish.

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Re: Museum Tower

Postby tamtagon » 17 Jul 2018 08:51

tamtagon wrote:
Tucy wrote: There are also quite a few homes for sale for more than $10 Million, a price level not seen in the high rise condo market, so far as we are aware.


Source? How many homes are currently listed at $10 million+?


Here's a snapshot of the million dollar home sales:

https://www.dallasnews.com/business/real-estate/2018/07/16/fewer-dallas-area-million-dollar-homes-sold-second-quarter

Fewer Dallas-area million-dollar homes sold in the second quarter
...
In the second quarter, 357 Dallas-area homes with a million-dollar price tag changed hands, according to Coldwell Banker's data from local real estate agents. That's about 4 percent fewer high-end home sales than in second quarter of 2017.
...
Sixteen Dallas-area homes now up for sale have price tags of $10 million or more, according to Realtor.com.
...
The most expensive second-quarter sales were a $13.5 million estate in Dallas and a Highland Park house that went for $8.27 million, according to Coldwell Banker.

For the first half of 2018, North Texas million-dollar home sales are still up about 4 percent, with 896 properties sold, according to the local multiple listing services.


16 homes currently for sale with a price $10 million or more. Interesting...

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Re: Museum Tower

Postby dukemeredith » 17 Jul 2018 11:29

tamtagon wrote:16 homes currently for sale with a price $10 million or more. Interesting...


Just another FYI, Zillow has 20 homes above $10,000,000 listed in Dallas County. Expand that search to all of DFW, and it rises to roughly 40 homes.

Two such homes come up in Chateau du Lac.

Dunno if any bit of my post is relevant, but here it is.

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Re: Museum Tower

Postby tamtagon » 17 Jul 2018 21:15

^I thought 16 was kinda low. Maybe the DMN statement was city...? whatev

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Re: Museum Tower

Postby Tucy » 19 Jul 2018 11:38

Using Realtor.com, I find 15 homes in Dallas County, 2 in Denton County and 1 in Collin County (for a total of 18) listed at prices above $10 Million.

Of those, 5 are above $20 Million; and 1 above $35 Million (all six of these are in Dallas County). Also noteworthy for the thread, none of the 18 are condos.

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Re: Museum Tower

Postby Tnexster » 26 Jul 2018 17:32

Downtown Dallas' high-profile Museum Tower is almost sold out

https://www.dallasnews.com/business/rea ... lmost-sold

The 42-story residential building in downtown's Arts District is 90 percent sold, according to agents with BriggsFreeman/Sotheby's Realtors who market the deluxe property.

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Re: Museum Tower

Postby Tucy » 26 Jul 2018 18:06

https://www.dallasnews.com/business/rea ... lmost-sold

"Opened during the worst of the Great Recession in 2010 . . ."

For the love of God, does Steve Brown ever check his facts?
-- Museum Tower opened in the last month of 2012, NOT in 2010.

-- The Great Recession, which was relatively mild in DFW in any event, ended in 2009; 2010 was hardly the "worst of the Great Recession."

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Re: Museum Tower

Postby cowboyeagle05 » 27 Jul 2018 09:05

Is 90% sold a blurry line as well? Do that many people actually live there or is it mostly purchases made for investment/resell? I ask this question honestly.

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Re: Museum Tower

Postby tamtagon » 27 Jul 2018 10:19

Tucy wrote:https://www.dallasnews.com/business/real-estate/2018/07/26/downtown-dallas-high-profile-museum-tower-almost-sold

"Opened during the worst of the Great Recession in 2010 . . ."

For the love of God, does Steve Brown ever check his facts?
-- Museum Tower opened in the last month of 2012, NOT in 2010.

-- The Great Recession, which was relatively mild in DFW in any event, ended in 2009; 2010 was hardly the "worst of the Great Recession."


There are plenty of farm jobs, on both sides of the fence hahahaha
dt_131216_cherry_picking_fruit_250x188.jpg


A relatively mild Great Recession is still bad, right? In and around 2009/10, what big ticket dealios were under construction in Dallas, Parkland Hospital, Baylor Cancer Center, DART rail, Museum Tower, universities expansions.... good coincidental timing on the part municipal projects, buffering the city from the recession.

Even with the blurred lines and data manipulations, 90% sold is an accomplishment, whew, finally getting close. Too bad those fat cats at the pension fund are not jailed or at least poor.

This beautiful building would have reached this level a couple years ago if the damage to the Sculpture Center had been corrected.
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Re: Museum Tower

Postby Tucy » 27 Jul 2018 11:21

^ The more important point is that, whatever the state of the recession in 2010, Museum Tower opened at the very end of 2012, NOT in 2010.

You set a laughably low bar for an "accomplishment". 90% sold only 2 1/2 years after the marketing team's projected sell-out date. Yeah, that's quite an accomplishment.

Blaming the tower's "accomplishment" on the reflection issue is equally laughable. There is really no evidence that the reflection issue caused Museum Tower's slow sales. It was plagued by slow sales LONG before the reflection became an issue, including long before construction started. That is why no one would finance the project until the Pension Board came along. Your desire to see someone go to jail suggests you are quite aware of all of this.
Last edited by Tucy on 27 Jul 2018 11:31, edited 1 time in total.

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Re: Museum Tower

Postby muncien » 27 Jul 2018 11:26

I think we just finished the longest stretch yet, without mentioning the melting sculptures. :D
"He doesn't know how to use the three seashells..."

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Re: Museum Tower

Postby tamtagon » 27 Jul 2018 11:53

Tucy wrote:There is really no evidence that the reflection issue caused Museum Tower's slow sales.


I'm not aware either of any evidence on a spreadsheet or database reported to condo owners, for sure; and I'm not aware of any reporting vehicle asking around if the glare is a problem with people able and/or considering such a dwelling purchase. However, friends have told me that they and their friends and of course friends of friends' friends hang out with some of Dallas noteworthy Arts District philanthropic families, and the well was most definitely soured. That's the only evidence I have to offer, and I do not think the anecdotes reach as far as McDermontt, but some come from Rachofsky Parties. The storm has passed, but that the solar glare and the response to the solar glare eliminated some big potential customers in the early years of sales.

I'm sorry, but it's a big deal when a condo tower with Museum in it's name in the Country's biggest Arts District stifles gallery display opportunity at one of the County's most prominent small museums. It's a shame. If you can prove (to my satisfaction... :) )it was not a problem, I'll stop bringing it up, fare and square.

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Re: Museum Tower

Postby Tucy » 27 Jul 2018 12:58

tamtagon wrote:
Tucy wrote:There is really no evidence that the reflection issue caused Museum Tower's slow sales.


I'm not aware either of any evidence on a spreadsheet or database reported to condo owners, for sure; and I'm not aware of any reporting vehicle asking around if the glare is a problem with people able and/or considering such a dwelling purchase. However, friends have told me that they and their friends and of course friends of friends' friends hang out with some of Dallas noteworthy Arts District philanthropic families, and the well was most definitely soured. That's the only evidence I have to offer, and I do not think the anecdotes reach as far as McDermontt, but some come from Rachofsky Parties. The storm has passed, but that the solar glare and the response to the solar glare eliminated some big potential customers in the early years of sales.

I'm sorry, but it's a big deal when a condo tower with Museum in it's name in the Country's biggest Arts District stifles gallery display opportunity at one of the County's most prominent small museums. It's a shame. If you can prove (to my satisfaction... :) )it was not a problem, I'll stop bringing it up, fare and square.



The proof is in the pudding, as the saying goes. There was minimal interest in Museum Tower units long before the glare problem reared its ugly head. (Hence the dearth of pre-sales; hence the lack of anyone willing to invest their own money in the project; hence the ownership by the Pension Board.) The minimal interest continued after the glare problem became a thing. Further, the glare problem has never been solved and yet the building is, finally, at long last, 90% sold. AND, there was no noticeable acceleration of sales when the glare problem receded from the news/became a non-issue.

-- In the first year (Dec 2012-Nov 2013), there were approximately 15 sales.
-- In year two (Dec 2013-Nov 2014), while the glare and potential lawsuit was very much still in the news, there were about 22 sales.
-- In year three (Dec. 2014-Nov 2015), there were again, about 22 sales.
-- In year four (Dec 2015-Nov 2016), when the glare issue was dying down, but there were still occasional articles, again, about 22 sales.
-- In year five (Dec 2016-Nov 2017), when the glare was all but forgotten and certainly no longer in the news, there were about 16 sales.
Last edited by Tucy on 27 Jul 2018 13:43, edited 2 times in total.

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Re: Museum Tower

Postby cowboyeagle05 » 27 Jul 2018 13:05

The glare story got boring when both sides couldn't find enough stuff to do more than posturize to each other in the press. No lawsuits resulted in anything seriously actionable and the Nasher had to adjust how to placed art since now it gets direct light in its galleries which is bad for paintings and sculpture depending on the material of course.

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Re: Museum Tower

Postby tamtagon » 28 Jul 2018 09:08

Tucy wrote:
tamtagon wrote:
Tucy wrote:There is really no evidence that the reflection issue caused Museum Tower's slow sales.
... the well was most definitely soured. It's a shame.

There was minimal interest in Museum Tower units long before the glare problem reared its ugly head. (Hence the dearth of pre-sales; hence the lack of anyone willing to invest their own money in the project; hence the ownership by the Pension Board.)


That sounds logical, systematic and incomplete; the full story of this taint started before ground was broken. Here's a clip from a art centered commentary. The Pension Fund bosses lost themselves.

https://hyperallergic.com/73609/how-to- ... s-turrell/

The story goes that the collector Raymond Nasher, who donated the sculpture center, had a “gentleman’s agreement” with the Dallas Police and Fire Pension System, whose real estate investment arm wanted to build a luxury condominium building — Museum Tower — in the heart of Dallas’s arts district. The neighborly agreement they had allegedly worked out was that the Museum Tower structure wouldn’t go above 20 stories, so as to not interfere with the sculpture center’s aesthetic vibe. However, it seems that after Nasher died in 2007 there was a redesign, and the eventual building now stands some 40 stories tall.


The Turrell piece was moved, the 'gentleman's agreement' was apparently invalidated during a skyscraper redesign that purposefully ignored decorum. These things could be overcome by talking it out for the good of the neighborhood. All of this happened before the place could really cast a shadow. People were already pissed off.

To say negotiations broke down is ludicrous because they never really started. The disgraced Pension Fund bosses never participated with honesty and a desire to resolve the neighbor's complaint.

Try to quantify "antisocial behavior", tabulate it and put it in a spreadsheet.

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Re: Museum Tower

Postby Tucy » 28 Jul 2018 09:36

tamtagon wrote:
Tucy wrote:
tamtagon wrote:... the well was most definitely soured. It's a shame.

There was minimal interest in Museum Tower units long before the glare problem reared its ugly head. (Hence the dearth of pre-sales; hence the lack of anyone willing to invest their own money in the project; hence the ownership by the Pension Board.)


That sounds logical, systematic and incomplete; the full story of this taint started before ground was broken. Here's a clip from a art centered commentary. The Pension Fund bosses lost themselves.

https://hyperallergic.com/73609/how-to- ... s-turrell/

The story goes that the collector Raymond Nasher, who donated the sculpture center, had a “gentleman’s agreement” with the Dallas Police and Fire Pension System, whose real estate investment arm wanted to build a luxury condominium building — Museum Tower — in the heart of Dallas’s arts district. The neighborly agreement they had allegedly worked out was that the Museum Tower structure wouldn’t go above 20 stories, so as to not interfere with the sculpture center’s aesthetic vibe. However, it seems that after Nasher died in 2007 there was a redesign, and the eventual building now stands some 40 stories tall.


The Turrell piece was moved, the 'gentleman's agreement' was apparently invalidated during a skyscraper redesign that purposefully ignored decorum. These things could be overcome by talking it out for the good of the neighborhood. All of this happened before the place could really cast a shadow. People were already pissed off.

To say negotiations broke down is ludicrous because they never really started. The disgraced Pension Fund bosses never participated with honesty and a desire to resolve the neighbor's complaint.

Try to quantify "antisocial behavior", tabulate it and put it in a spreadsheet.


I'm well aware of all of that. But the lack of interest in purchasing units started long before any of that; before the building was slated to be 42 stories, before they selected the highly-reflective glass, before the Pension Fund was involved.

Again, that is why, for years, they could not find anybody willing to invest or loan money to build the tower, until the Pension Fund came along with other peoples' money.

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Re: Museum Tower

Postby CTroyMathis » 28 Jul 2018 10:36

If this ended up being one of the earlier ideas pushed by Brook Partners and it became a modest mid-rise office tower, we would never have had this rather engaging discussion. I remember taking a picture of this parking-lot-now-tower in 2000 because of a sign that read (future) Arts District Tower. . .

And, I remember also taking a picture of Museum Tower while at the opening day of Klyde Warren Park, after seeing young Klyde Warren and Angela on the stage. There was a banner on MT that read something like Welcome to the Neighborhood KWP. And, I thought, wow that's kind of messed up because you aren't even finished-out yet MT. But, anyway. . .

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Re: Museum Tower

Postby tamtagon » 28 Jul 2018 11:08

Tucy wrote:But the lack of interest in purchasing units started long before any of that; before the building was slated to be 42 stories, before they selected the highly-reflective glass, before the Pension Fund was involved.

Again, that is why, for years, they could not find anybody willing to invest or loan money to build the tower, until the Pension Fund came along with other peoples' money.


Interesting postulation, that the lack of interest in purchasing units started long before any of that.... We should remember where we're talking about, this is inside the Dallas Arts District. The Nasher Sculpture Center is one of the cornerstones, without which interest in anything in or around the Arts District is diminished. It's a nice circle, there: "Nothing is there; therefore, no interest. Something is there now, but there was no interest before; therefore, no interest. That's the same sort of thought process that got the Pension Fund fat cats in trouble.

Look at this neighborhood. 40 years ago it was an undesirable part of town. No interest. All that was left of the fancy mansion silk stocking row is one house occupied by a Lawyer's Association. So little concern for the neighborhood a big fat gay bar could thrive under the radar while that lifestyle was still punishable by law. Now, we have a beautiful, offensive condo skyscraper that's just about sold out.

The interest in anything is potential energy until a catalyst makes it kinetic. The Dallas Arts Community made the neighborhood possible when everything started moving from Fair Park. Millionaire philanthropists steadily built a collection of Art Venues with appeal domestic appeal. Now, attention is international, and increasing in prominence, stature, reputation.

Spit in the face of your philanthropic best friend, the door will slammed in your face. These folks were in queue to get the first residential building in the Dallas Arts District off the ground. They were turned away.

Museum Tower is finally doing great. Certainly could have been a better start.

Putting all this behind us, Tucy, because there's not an inch of back-up in you and there's not an inch of back-up in me (that's part of why I {forum} love you).... let's get Museum Tower to the point where only 3 or 4 units are for sale, out of 100 units, some will be for sale almost all the time.

What's the one thing that could be done to improve the value of all units in the building? Is there anything at all that would increase the desirability of owning a Museum Tower apartment? Something? Nothing? Wait!!! Cease the reflective damage to the Nasher Sculpture Center, could that help increase the value of Museum Tower?

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Re: Museum Tower

Postby JohnMcKee » 30 Jul 2018 11:37

Museum Tower is finally doing great. Certainly could have been a better start.


Doing great in what sense? That it is occupied? There was always a price that those condos would have sold for and moved fast, the measure of success of Museum Tower is not occupied condos, it is if they made money. Given the massive carrying costs of the property I think that is still a very much open question.

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Re: Museum Tower

Postby Tucy » 30 Jul 2018 15:51

cowboyeagle05 wrote:Is 90% sold a blurry line as well? Do that many people actually live there or is it mostly purchases made for investment/resell? I ask this question honestly.


If it's being publicized by the marketing folks at Museum Tower and reported by Steve Brown, you can count on it being a blurry line. ;-)

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texasstar
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Re: Museum Tower

Postby texasstar » 30 Jul 2018 23:00

The seething hatred for this beautiful structure continues to mystify me.

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Tivo_Kenevil
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Re: Museum Tower

Postby Tivo_Kenevil » 31 Jul 2018 01:53

Tucy wrote:If it's being publicized by the marketing folks at Museum Tower and reported by Steve Brown, you can count on it being a blurry line. ;-)

Well you're definitely not wrong... Lol

cowboyeagle05
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Re: Museum Tower

Postby cowboyeagle05 » 31 Jul 2018 08:24

Steve Brown always seems to report anything with a lot of fluff and half-truths to make his pieces seem more appealing to a general audience.

Tnexster
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Re: Museum Tower

Postby Tnexster » 31 Jul 2018 09:50

texasstar wrote:The seething hatred for this beautiful structure continues to mystify me.


It's the tower people love to hate.

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muncien
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Re: Museum Tower

Postby muncien » 31 Jul 2018 10:18

I should have stopped reading at 'Gentleman Agreement'... Good luck with that! lol

I'm sorry... but when you build something in a Central Business District that carries such priceless materials, is so sensitive to outside environmental conditions, and that is the primary purpose for such a structure... you don't rely on 'Gentleman Agreements'. smh
"He doesn't know how to use the three seashells..."

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eburress
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Re: Museum Tower

Postby eburress » 31 Jul 2018 11:01

texasstar wrote:The seething hatred for this beautiful structure continues to mystify me.


Some people are still upset about the circumstances surrounding the building's origin. Whether this continued obsession is constructive is debatable, but that's the source of their ire nonetheless.

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tamtagon
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Re: Museum Tower

Postby tamtagon » 31 Jul 2018 11:24

eburress wrote:
texasstar wrote:The seething hatred for this beautiful structure continues to mystify me.


Some people are still upset about the circumstances surrounding the building's origin. Whether this continued obsession is constructive is debatable, but that's the source of their ire nonetheless.


...that's pretty accurate for me.

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Kelley USA
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Re: Museum Tower

Postby Kelley USA » 31 Jul 2018 16:38

All I know is that when I make the turn from 35 onto Woodall Rogers FWY I take a glance and think, "Yep, that tower is a pretty bad ass addition to the skyline". That's about the extent of my thinking with regards to Museum Tower.

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DisplacedTXN
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Re: Museum Tower

Postby DisplacedTXN » 31 Jul 2018 17:04

Thanks for helping me understand some of the history. I too never really understood all of the negative rhetoric regarding Museum Tower. I LOVE the look of it and see it as a MUCH needed addition to the skyline. Honestly I would love to see DALLAS get a few more towers that size or larger throughout the CBD.

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Re: Museum Tower

Postby Tnexster » 31 Jul 2018 19:46

Kelley USA wrote:All I know is that when I make the turn from 35 onto Woodall Rogers FWY I take a glance and think, "Yep, that tower is a pretty bad ass addition to the skyline". That's about the extent of my thinking with regards to Museum Tower.


I think that's healthy!

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Tucy
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Re: Museum Tower

Postby Tucy » 01 Aug 2018 15:25

July 2018

Five units sold (biggest month ever for Museum Tower)
100 sold in 68 months. (1.47 per month) 14 remaining.
Rolling 12-month sales: 17 (1.42 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 6 months.
Sellout projection, based on the pace of sales over the prior 12 months: 6 years, 6 months.

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R1070
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Re: Museum Tower

Postby R1070 » 01 Aug 2018 20:23

Nice!

Tnexster
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Re: Museum Tower

Postby Tnexster » 01 Aug 2018 21:56

Maybe sales will pick up now that there are only 14 remaining units! Get yours before they are gone!

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Tucy
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Re: Museum Tower

Postby Tucy » 06 Sep 2018 05:18

August 2018

Zero units sold
100 sold in 69 months. (1.45 per month) 14 remaining.
Rolling 12-month sales: 16 (1.333 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 7 months.
Sellout projection, based on the pace of sales over the prior 12 months: 6 years, 8 months.

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Re: Museum Tower

Postby Tnexster » 10 Sep 2018 20:32

So they are at 88%?

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Re: Museum Tower

Postby cowboyeagle05 » 11 Sep 2018 08:46

I was thinking we could add a Grecian robe to this building. :) Doing so would really heighten the energy of it when it moves based on the suns track through the sky.


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