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Marriott Custom House Prices

DCBoy

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A Platnum week at the Custom House just sold on EBay for $995. I know that the Custom House consists of all 1 bedroom units and a special one time $300 assessment is being levied in 2014 to waterproof the facade. But this is a very unique property that is located in a great part of the city, and these same units were going for about $3500 during the depths of the recession. Am I missing something? What gives?
 

MOXJO7282

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A Platnum week at the Custom House just sold on EBay for $995. I know that the Custom House consists of all 1 bedroom units and a special one time $300 assessment is being levied in 2014 to waterproof the facade. But this is a very unique property that is located in a great part of the city, and these same units were going for about $3500 during the depths of the recession. Am I missing something? What gives?
I agree its such a nice resort in a great location with very flexible reservation options so I'm surprised it sold for so little. Somebody got a great deal.

I have a EOY Custom House that I bought for about $1200 and I was really happy with that deal. Most annuals I've seen have been in the $2500 range so this could just be an aberration.
 

dioxide45

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A Platnum week at the Custom House just sold on EBay for $995. I know that the Custom House consists of all 1 bedroom units and a special one time $300 assessment is being levied in 2014 to waterproof the facade. But this is a very unique property that is located in a great part of the city, and these same units were going for about $3500 during the depths of the recession. Am I missing something? What gives?

I am not seeing this Ebay auction when I do a completed auction search. Do you have a link?
 

DCBoy

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Sorry, but I don't know how to post the link here. However, the EBay item # for this sale is 141125532560. Hope that helps.
 

dioxide45

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Sorry, but I don't know how to post the link here. However, the EBay item # for this sale is 141125532560. Hope that helps.

Thanks. Not sure why this wasn't coming up when I did a completed auction search.

http://www.ebay.com/itm/141125532560

I wonder if the 2014 MF isn't scaring people away. The seller would have been wise to indicate in the ad that it included a one time $300 assessment. Though the MFs are pretty high without that for a 1BR unit.
 

Sullco2

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I got one for even less--Platinum Week.

I bought it for the "break up the week" feature. Even with this year's wild card extra $300 hit, it's a very good deal. Boston is a cultural mecca--perfect for occasional visits.

The location across from the Aquarium and Harbor is great for kids.

The mattress on the pull out couch was horrible on the visit we made almost a year ago before purchasing so I will bring a foam pad on our first visit as owners.

Plus the II membership and the Getaways offers have already justified the purchase.

I was lucky. And quick. I think the previous owner had gotten his value from it and was just ready to move on.

If we don't find it is as usable as we thought for short stays, we'll sell it. But thus far my two reservations for 2014 were easy.
 

TheTimeTraveler

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There are not a lot of Custom House weeks in the Trust. In light of the increased ROFR activity I would guess that a Platinum Custom House week selling for less than $1,000 would be very attractive & could be scooped up into the Trust via the ROFR process.

Time will tell…




.
 

dioxide45

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There are not a lot of Custom House weeks in the Trust. In light of the increased ROFR activity I would guess that a Platinum Custom House week selling for less than $1,000 would be very attractive & could be scooped up into the Trust via the ROFR process.

Time will tell.

Actually, there are no Custom House weeks in the trust. I don't know if MVCI owns a bunch and are holding them and putting them in the exchange company, or if they are just relying on owner deposits to meet the demands of DC.

We suspect that there are no CU weeks in the trust because they are not deeded since CU is an RTU property.
 

SueDonJ

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There are not a lot of Custom House weeks in the Trust. In light of the increased ROFR activity I would guess that a Platinum Custom House week selling for less than $1,000 would be very attractive & could be scooped up into the Trust via the ROFR process.

Time will tell…




.

There haven't been any Custom House Weeks conveyed to the Trust; speculation is that there haven't been because Marriott leases the building from the City of Boston and the Weeks are RTU with a 2057 end date. It could be that they're going to begin conveying Weeks to the Trust, anything's possible, but I think I'd look for another reason for them to ROFR resales.
 
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