# Phillips Club, NYC



## stevens397 (Jan 10, 2007)

Does anyone have any idea how to find resales at the Phillips Club?


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## teresapink (Oct 8, 2007)

I have been looking myself-seems like the property itself has the rights to this...have you called  them?
T


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## Bill4728 (Oct 8, 2007)

stevens397 said:


> Does anyone have any idea how to find resales at the Phillips Club?


I never heard of them.  What is the story with them? Are they a TS?


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## Steamboat Bill (Oct 8, 2007)

I am moving this to another forum as this is a high-end fractional condo.

http://www.phillipsclub.com/main/intro.html


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## MULTIZ321 (Oct 8, 2007)

Stevens,

Check out this link for Phillips Club resales

Also this link

Richard


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## Kagehitokiri (Oct 8, 2007)

so ~$300K for 1/8 of top 1BR. wonder what the 2BR goes for, and what the annual fees are like. looks like they have extra space available use too.


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## Steamboat Bill (Oct 8, 2007)

OK I will take a stab as this....If I was interested in NYC then

$305,000 buy for a 45 nights 1 bedroom 2 bath

Lost opportunity $15,250 (5%) + tax $2,080 = 17,330 + yearly dues $6,000 (I am guessing) = 23,330 +45 nights of nightly cleaning fee $2,250 ($50 per night guess) = 25,580 / 45 nights = $568 per night.

If you can't rent a 1 bedroom for less than $568 per night...then it may be worth it. Of course this is NYC and the potential for resale profit may be good, but I am not a NYC price expert.


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## Bourne (Oct 8, 2007)

When I owned FS Aviara, it was one of the options that I could use my week at.


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## Kagehitokiri (Oct 8, 2007)

it seems like St Regis was $800K for 1/12 of 2BR 18 months ago.


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## Texan in NYC (Nov 17, 2007)

Steamboat Bill said:


> OK I will take a stab as this....If I was interested in NYC then
> 
> $305,000 buy for a 45 nights 1 bedroom 2 bath
> 
> ...



The math works much better for the studios, which are still quite large at a median 625 sq ft. (certainly as big as most top level NYC hotel rooms).  Price on the studios is $190k.  1/8th fractional = 45 days.

5% opportunity cost*, after tax (35%) = $7500 * .65 = $4875
Daily housekeeping charge = $20 x 45 = $900
Per visit checkout charge = $40 x [7] = $280
Yearly common charges including taxes = $4900**


* Note that the opportunity cost assumes no price appreciation of the underlying fractional interest.

** 25% of the common charge is tax deductible real estate taxes.  At the 35% bracket, this ends up being worth $428


Total cost of usage = $10955 - $428 = $10527
Cost per day (assumed 45 days) = $233

I am seriously considering one of these.  The math on the larger units like 1BRs, Executive 1BRs, and 2BRs is harder to make work.


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## stevens397 (Nov 27, 2007)

Just to add another perspective to my post, Hilton is now selling their soon to be built timeshare on 57th street.  A 1 bedroom week will go for almost $80,000 for one week!

I own at the Manhattan club and the maint fee for my one week is over $1,800 for one week, as opposed to $4,600 for 6 weeks.  Even better, the Phillips Club allows 2 people to share an ownership at no extra fee.  So to me, the numbers are about $110,000 for 1/2 of a one bedroom and $2,300 per year and that's for at least 22 days per year and as many more as availability allows.  And I can trade for Four Seasons fractionals.   

We're staying there in January and will make a decision at that time.


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## JoeMid (Nov 27, 2007)

I just received an invite to The Phillips Club2 to check it out for only $475 a night (a $900 value).

Studio $190,000
Broadway 1BR $220,000
Club 1BR  $257,000
Executive 1BR  $327,000
2BR (2 remaining)  $375,000
3BR (4 remaining)  $410,000

www.phillipsclub2.com


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## travelguy (Nov 28, 2007)

*HIGH Prices in NYC!*

Wow!  These prices for fractionals in NYC make use of the High Country Club property at 1600 Broadway seem like a steal for the membership price.  Much lower initial deposit and lower M.F. make HCC an attractive alternative to the fractionals or timeshares.  Not to mention that if I get tired of NYC I can always go to Turks or Playa or Maui or Breckenridge or La Costa or .....


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## stevens397 (Nov 28, 2007)

The issue to me is one of availability.  There are restrictions (as I understand it) regarding days available in NYC with the HCC - how many days minimum, which days based on the number you want, etc.  Then you have to hope there is availability.  As I see it, if you only want occasional NYC use, HCC could be a great and $$ reasonable option.

But if what you want is easy access to NY and you want to spend a decent amount of time there, you have to pay the price!  I convinced the someone on the sales staff to email me a copy of the weekly availability list that goes to members and lists at least 3 months of availability on a night by night basis.  Does not seem to be a problem to get in when you want.  As of now, even Presidents Weekend is available, while the Manhattan Club has no weekends between now and June!

I have no desire to buy the whole thing - won't use it that much - and I also look forward to buying something in Florida in the next couple of years, so it's all contingent on getting someone I'm close with to step up and share the property with me.  If we find someone, I think it's a done deal.


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## Steamboat Bill (Nov 28, 2007)

If you HAVE to have visit NYC often, I think Phillips club is a decent deal. With the hotel prices and condo prices, this fractional may actually increase in value.


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## Texan in NYC (Dec 4, 2007)

*More*

I am in the process of closing a transaction on a unit in the Phillips Club.  I will have extensive comments after closing.


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## stevens397 (Dec 4, 2007)

Texan-

Is this from the developer or resale?


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## Steamboat Bill (Dec 4, 2007)

Texan in NYC said:


> I am in the process of closing a transaction on a unit in the Phillips Club.  I will have extensive comments after closing.



Awesome, I am looking forward to your report.

Is this a hotel-condo or fractional or something else?


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## sml2181 (Dec 4, 2007)

Kagehitokiri said:


> it seems like St Regis was $800K for 1/12 of 2BR 18 months ago.



No way that I paid that a few months ago - I bought a 2 bedroom fixed week 52 and it came with 3 floating weeks which can be split up as long as you reserve 2 nights. And the 2 br unit can be split up as well, that way you are enabled to double the number of nights. 2 weeks can be converted into SPG points: 330K SPG points per week.

Don't know what the current price is, but the 800K$ was never in the picture when I bought.


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## Texan in NYC (Dec 4, 2007)

stevens397 said:


> Texan-
> 
> Is this from the developer or resale?



Standby for my full report after closing.  All your questions will be answered.


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## pwrshift (Dec 4, 2007)

http://www.thelondonnyc.com/suites_and_flats/london_apartments.cfm

Here's a hotel we've used on a corp basis with pre-arranged corp rate for just under $400 a night for a pretty nice suite, and often get upgraded.

For a couple of years it was a JW Marriott Rhigha Royal and they've had a new decor since then.  Quite nice ... great location.


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## Elsway (Dec 4, 2007)

pwrshift said:


> http://www.thelondonnyc.com/suites_and_flats/london_apartments.cfm
> 
> Here's a hotel we've used on a corp basis with pre-arranged corp rate for just under $400 a night for a pretty nice suite, and often get upgraded.
> 
> For a couple of years it was a JW Marriott Rhigha Royal and they've had a new decor since then.  Quite nice ... great location.



Nice.

One of the drawbacks of the Phillips Club residences is the kitchens.  When in NYC, I want a hotel suite with an expanded living space (since so many of the hotel rooms are rather small), but I have no need for a kitchen.  I base this on my experience that NYC dining options are numerous, whereas groceries are relatively scarce.  I can't imagine cooking in Manhattan - so why waste the space on a full kitchen?


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## Steamboat Bill (Dec 4, 2007)

Helium Report has a review of 1600 Broadway (Quintess, High Country Club, and Private Escapes have properties here) and also a review of The Hotel London

http://www.heliumreport.com/archives/911-road-test-quintess-big-apple-properties


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## stevens397 (Dec 5, 2007)

Two observations-

1. Unlike conventional timeshares, the few resales that seem to be available are pretty much at the same price as the newer units in Phillips Club 2.  No real bargains that I can see at this point.

2. Re The London NYC, the Helium Report states the author paid $800 for one night.  That's pretty much the most they ever charge.  I've seen nights go for as low as $299.  Usually you can get one for $499.  It is my favorite hotel in NY.  Used to stay there a lot with my Marriott points when it was the Rhiga Royal.


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## pwrshift (Dec 5, 2007)

Not sure why Helium would review the London NYC as it is not a DC (as far as I know) and it's also the tallest hotel in NYC with 54 stories or so.  I only mentioned it in my post above to suggest that NYC is really not a place to 'stay in and cook your own meals' when just an elevator ride away you have hundreds of restaurants to choose from...but when I'm there it's nice to have twice daily maid service and call down for breakfast in the morning!  I stayed there on the 7 night Marriott certificates about 3 times before the change of ownership and was particulary taken by the toilet seats ... they not only were heated they washed you off as well!  

The new owners are anxious to please and more than anxious to get regulars ... so corp rates are readily available to good negotiators.


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