HGVC New York

Here is the link to the promotional data for the new HGVC timeshare in New York: www.west57thstreet.com.

No kitchens?

It doesn't look like there will be any kitchens/kitchenettes , or am I just not seeing it.

No, no kitchens.

You will get continental breakfast every morning and a cocktail in the evening.

will NY accept intra-Hilton exchanges? If so do the same point usage apply?

benjaminb13 said:

will NY accept intra-Hilton exchanges? If so do the same point usage apply?

Click to expand...

As far as I know the answer is yes, but the new properties are going to have a higher point tier level. I believe I read on a thread (but I can't find it now) that it will start at 9600 points for a week and go up from there. This will be the same for the new HHV and all the new high end properties under development.

Resales?

Anyone care to venture an opinion on how hard it will be to pick these up resale in a years time (or a year after it's finished)?

studio plus units (floors 3-19) start from 5250 points
studio premier 7200 points
1br suite 7200 points
1br plus 9300 points
1br premier 12,600 points

Homeresort reservation for owners is 365 - 60 days with minimum reservation of 1 night. Clubreservation starts from 60 days - at least that's what I was told. In another thread it is said that clubreservation starts at 45 days.

If you would like the cheaper option, I would buy city points but these are good for "only" 25 years. If you are lucky, you can use the city points for
57th street. Then, after these 25 years, I guess there must be some pretty good resale prices for 57th street. Just my opinion though, would love to hear what everybody else is thinking...

Prices anywhere???

stevens397 said:

Prices anywhere???

Click to expand...

Anyone know the original prices for the 2br Hilton timeshare units at the Hilton New York (Ave of Americas)

Buying from HGVC: 7000 city points for 35K.
Resale you can find 7000 city points for more or less 14K.

Prices for 57th Street:


studio plus: 43,602$ - 5250 pts
studio premier: 50,763$ - 7200 pts
1br suites: 64,050$ - 7200 pts
1br suites plus: 73,216$ - 9300 pts
1br suites premier: 83,433$ - 12,600 pts

Annual fees studio: 948$
Annual fees 1br: 1,445$

I posted something similar to this regarding the Manhattan Club (where I own). They raised their maintenance fee substantially this year to over $1,900 per year.

Let's be conservative - $64,000 at 5% per year us $3,200. Add the MF and you get an annual cost of $4,645 or $663 per night.

First of all, I've done better than 5% historically. Secondly, I can certainly rent a nice suite, even in NYC, for $663 without worrying about scheduling, using the full week, etc. I'm sure Hilton is a lot smarter than stevens397, but for me the numbers don't seem to work well at all. And they'll probably sell out...

I had a reservation for a one bedroom suite at the Hilton on 7th ave during Christmas, 2006 for only $350 per night. Looking at the new Marriott planned for Marco Island, looks like the world has gone crazy!

Now on Ebay:

5,000 city points BIN price 8,100$

4,800 city points = 7,000 HGVC club points when using them for HGVC resorts and conversion to HH points is 1:25.

sml2181 said:

Now on Ebay:

5,000 city points BIN price 8,100$

4,800 city points = 7,000 HGVC club points when using them for HGVC resorts and conversion to HH points is 1:25.

Click to expand...

That would appear to be a cheap way to get HGVC points at a very good price, since 7000 points HGVC usually will run you in the $12,000-$14000 price range.

So what's the maintenance fee on 5000 city points and what size unit can you get? Isn't the Hilton Club also simply a long term lease vs ownership at HGVC properties?

ricoba said:

That would appear to be a cheap way to get HGVC points at a very good price, since 7000 points HGVC usually will run you in the $12,000-$14000 price range.

So what's the maintenance fee on 5000 city points and what size unit can you get? Isn't the Hilton Club also simply a long term lease vs ownership at HGVC properties?

Click to expand...

I search Ebay for the ad: $900 for MF & taxes. And yes, the contract expires in 2032. A little bit higher MFs that the regular 7000 point (2BR Platinum season) HGVC properties, but not by that much. Plus, you would then have access to the Hilton Club, which HGVC owners do not.

If I were looking to add more HGVC points, I would seriously look into this.

Kurt

Yes, it is a long term lease - 25 years remaining.

Homeresort reservations can be made 12 - 6 months; clubreservations from 6 months. Open season from 15 days.

You can reserve any suite type available, as long as you have enough points. Annual fees for 5,000 points are 950$ I think.

I have the points chart en membership guide (from 2006) but I don't know how to post them here.

What exactly are city points?-
why are they on sale at a relatively inexpensive price?
are they club points?
Can anyone explain?
Thanks

When you buy into the Hilton Club New York, located within the hotel at the Avenue of the Americas/6th Ave, you get city points, instead of HGVC points.

These city points can be used to reserve any suite available on these dedicated floors within the hotel, or you can use them for club reservations at HGVC resorts.

HGVC owners cannot use club points to make reservations at the Hilton Club New York, they will have to use HH Points.

As said before, it is not deeded, there are "only" 25 years left to use and that may be an obstacle to purchase.

57th Street Details

Hi all,

First off, newbie board member and glad to be here, great info thus far. So one of my neighbors just came back from an HGVC presentation on the 57th street properties and he shared with me the numbers they quoted him. Here goes,

Two Weeks Studio Premier Platinum:
Annual Points = 14,400
Purchase Price = $101,526
Closing Costs - Included
20% Downpayment = $19,560
Annual HOA Fee = $1,900
Their Financing = 15.9% for 60 months, thus $1,994/month

1BR Penthouse Platinum and Studio Plus Platinum:
Annual Points = 22,050
Purchase Price = $148,500
Closing Costs - Included
20% Downpayment = $28,760
Annual HOA Fee = $2,922
Their Financing = 15.9% for 60 months, thus $2,910/month

Two Weeks 1BR Premier Platinum:
Annual Points = 25,200
Purchase Price = $166,866
Closing Costs - Included
20% Downpayment = $32,360
Annual HOA Fee = $2,890
Their Financing = 15.9% for 60 months, thus $3,269/month

Can someone help me out to see if these figures make sense? They did say that these are NOT going to expire in 2032, it's the current club property, Hilton New York, that will go back to the original owners. This new property is they say "fractional ownership" that is deeded to each owner.

Also, the way they described the points was that it a 23:1 conversion. One City Point equaled 23 Hilton points.

I agree with stevens397 on the ebay property, seems like I can do a better job just reserving the old fashioned way and maybe using some of my points from my business travel.

Hope this helps, please help me determine if this is a good deal or not.

BGC06

Same answer. The Premium 1 bedroom considering value of the money paid plus the maint fee, comes out to over $900 per night. And you have to hope the nights you want aren't already booked.

My sense is that they're killing a wonderful system but time may prove me very, very wrong. Nevertheless, there is nothing about these numbers that entice me and I assume only very wealthy people need apply (and I'm a pretty successful guy!). There are lots of places in the city where I can get a great suite for less than that and still have my $80,000+ invested and working for me.

Agreed, my neighbor stated that they kept saying things like "owning a piece of property in NYC is like nowhere else is the world, thus the uniqueness of this opportunity". It is a nice location, a few blocks from CP, new building, etc. But you just have to question the math.

I forgot to mention that these are prices for the first 100 people that sign up. The salesperson did not answer them when they asked how many have been sold, all that he said was "under 100". When the 3rd "corporate" person came by, he stated that they have sold 82 thus far. From 101 and maybe 200 units sold, the price will go up at last 4-7%.

I don't know.....maybe Hilton has lost its way and that's why it agreed to the equity buy out.

They have decided to build in only three locations. And to top that off, the new clubs they are adding in those three locations will all be top $$$$$.

Then the only location that is not in OR-HI-LV is this new NYC Club, which is a great location, but way too high priced for your average consumer.

I know there is a big demand among high net worth folks for high end places, but how do you think they are going to feel when Jack & Jill from Nowheresville plops their big fat arsses down next to Joe Millionaire at the pool or lounge?

There's nothing wrong with high end places, but why not develop a high end destination club within Hilton for folks with those dollars.

There's lots more of us everyday consumers that don't need or can't afford the high ticket items to be happy. All I want is more plain Jane HGVC's in more locations.

So back to my opening statement, maybe it's time for a management shakeup within HGVC????

The Phillips Club New York fractional gives you 45 days per year for about the same price.

http://www.phillipsclub.com

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1020782

Older articles on the phillips club
http://www.residenceclub.com/archives/club/1203_phil.html
http://query.nytimes.com/gst/fullpage.html?res=9907E6DB1E3EF930A15756C0A96F958260

Starting from 195K, you will have 28 nights at the St Regis New York..for a little more $$ you have a 1 br and for much more $$ you have a 2br.

2 weeks can be converted to SPG points (of course you get platinum for life)

studio: 150,000 SPG points per week;
1br: 180,000 SPG points per week;
2br: 330,000 SPG points per week

Almost forgot - Annual fees:

studio: 10,700
1br: 13,500
2br: 17,500