W 57 St Buying Strategy

[DazedandConfused]

I friend of mine (yes this is true) is interested in buying HGVC W 57 St and I am trying to find the best strategy as they like our HGVC, but prefer NYC

Platinum vs Gold - this may not matter much unless you book at 12-9 months, correct?
Platinum vs Gold - this will not matter at all for 9 months to 60 days booking, correct?
Unless there is a HUGE price difference, is there any reason to buy Gold?

The Penthouse has a huge price premium - is it really worth it?

How does the 50:1 conversion work for HGVC - is it every W 57 unit or only some of them?

I am guessing that Studio Premier Platinum (7,200 points) is the best buy followed by the 1 bedroom Premium (12,600 points)

Can all w 57 points be used for any opening from 9 months to 60 days window - such as if you buy a studio, can you book a 1 bedroom

Any tips would be appreciated...thanks

--------------------------

Studio plus - 355 sq ft
Platinum = 5,250 points per week
Gold = 3,750 points

Studio premier - 463 sq ft + floors 21-24
Platinum = 7,200 points
Gold = 5,100 points

------------------

1 bedroom - 710 sq ft
Platinum = 7,200 points
Gold = 5,100 points

1 bedroom plus - 546 sq ft + floors 16-20
Platinum = 9,300 points
Gold = 6,300 points

1 bedroom premier - 570 sq ft + floors 15 and 21-24
Platinum = 12,600 points
Gold = 8,700 points

1 bedroom penthouse - 718 sq ft + floors 25-26
Platinum = 16,800 points
Gold = 11,600 points

 

[seagila]

Platinum vs Gold - this may not matter much unless you book at 12-9 months, correct?
Platinum vs Gold - this will not matter at all for 9 months to 60 days booking, correct?
Unless there is a HUGE price difference, is there any reason to buy Gold?

The Penthouse has a huge price premium - is it really worth it?

How does the 50:1 conversion work for HGVC - is it every W 57 unit or only some of them?

I am guessing that Studio Premier Platinum (7,200 points) is the best buy followed by the 1 bedroom Premium (12,600 points)

Can all w 57 points be used for any opening from 9 months to 60 days window - such as if you buy a studio, can you book a 1 bedroom

Correct.
Correct.
No. I personally prefer owning Platinum weeks.

I've often seen the Penthouse available during Home Resort Period, so it doesn't seem compelling to pay the price premium to own it.

All W57 points, developer or resale, have the option to convert to HHonors at 50:1 when converting the full week of the following use year.

The Platinum 1BR Premier (12,600 pts) actually has the best MF ratio at W57 at 0.1977 vs. 0.2189 for the Platinum ST Premier (7,200), unless you're using a different criteria in determining which is the "best buy".

During Home Resort Period (9 months to 60 days prior to check-in), you can use whatever W57 points you have (including borrowing points) to reserve any unit available.

 

[brp]

When possible, I'm always in favor of owning Platinum for the better MF ratio. The exception is when the Gold buy-in is so compelling that the break-even is many years out. But, with some of the prices that Platinum weeks have been going for lately, even this exception is suspect.

I had not realized that the 1BR Premium was a better ratio than the Studio Premier. I had always thought that that was the gold standard (well, Platinum standard, maybe) at W. 57th.

Cheers.

 

[CalGalTraveler]

AFAIK everything is correct. Penthouses and 1 bdrms during the home resort window are available and you can reserve if you have enough points from a studio. (may need to combine years but points depend on how often your friend plans to visit.)

IMO it would be hard to find a 1 bdrm premium at a decent price. When I see them listed, they are often at a premium.

From an absolute $ perspective, studios (3750 gold, 5250 Plat, 7200 plat plus) at W57 have the lowest MF overall in NYC at about $1600/year. 7200 units at a decent price are a unicorn (there are only about 4 units in the entire building) so might be better to buy a 5250 at a better buy in price because there are many more available. 3750 gold studios have poorer MF ratios and may not have the points needed for bigger units. We've been able to get about 2 long weekends a year with our 5250 with borrowing a few points. You might also do better with a gold 1 bdrm because points are points during the home resort reservation window. We have never spent an entire week in NYC.

 

[DazedandConfused]

West 57th - Platinum Week

$1,576 annual dues
Studio Plus = 5,250 points = $.30 per point
Studio Premier = 7,200 = $.22

$2,492 annual dues
1 Bedroom = 7,200 = $.35
1 Bedroom Plus = 9,300 = $.27
1 Bedroom Premier = 12,600 = $.20

 

[DazedandConfused]

Does anyone have a breakdown of number of rooms and room types at W 57 St?

 

[DazedandConfused]

Does anyone track resale prices?

Here is about what I see

Studio
5,250 = $7,000
7,200 = $15,000

1 Bedroom
7,200 = $8,000
9,300 = $20,000
12,600 = $25,000

 

[CalGalTraveler]

Check ROFR.net

 

[GT75]

Here is about what I see

What is amazing to me is someone just paid 7-10 times those prices just a few years ago from the developer.

 

[DazedandConfused]

Check ROFR.net

I did, but there is very little info there

 

[BingoBangoBongo]

What is amazing to me is someone just paid 7-10 times those prices just a few years ago from the developer.

I recently been trying to think of any other product that loses so much value right out of the gate. (autos and golf clubs are two of the worst, but from what I see a developer TS purchase takes a 80-90% haircut pretty quickly)

 

[JohnPaul]

I’d jump in quick. Just a few years ago Hilton did ROFR on $15,000 for a platinum studio. Cheap prices are going through now but I don’t expect that to continue.

 

[seagila]

Does anyone have a breakdown of number of rooms and room types at W 57 St?

From Section 3.2 of the W57 Declaration document -

 

[brp]

From Section 3.2 of the W57 Declaration document -

View attachment 37483

And they once told me that there were only 4 Studio Premier. Still, not many.

Cheers.

 

[Cyberc]

I own a 5.100 points studio gold contract. At the time when I bought it, there was a huge difference in price compared to a platinum contract. IIRC the price difference was $5.000 So it was a no brainer to buy the gold contract, but every year im not getting the extra 150 points a platinum contract would have given me.

 

[BingoBangoBongo]

I own a 5.100 points studio gold contract. At the time when I bought it, there was a huge difference in price compared to a platinum contract. IIRC the price difference was $5.000 So it was a no brainer to buy the gold contract, but every year im not getting the extra 150 points a platinum contract would have given me.

Don’t you mean 2100 points?

it appears you’re comparing a Studio Plus Platinum to a Studio Premier Gold?

 

[Cyberc]

Don’t you mean 2100 points?

it appears you’re comparing a Studio Plus Platinum to a Studio Premier Gold?

No im comparing a studio platinum to a studio gold. The annual maintenance fee is the same regardless of studio types. Had the maintenance fee been different then you would be correct. If you are buying and want the most points for the fewest $$ then you should consider the gold over the platinum as its only 150 points less but the buy-in cost is a lot smaller.

This is however only true for W57 so it does not apply to other resorts - or should I should I assume it only applies to W57 as I haven't checked other resorts

 

[CalGalTraveler]

I believe @Cyberc is saying he owns a Studio Premier Gold with 5100 points. Same MF as studios. Interesting strategy since a 1 bdrm gold has a higher MF. Crazy that they didn't make that 5250 to be equal to the Studio Plus Plat.

 

[Cyberc]

I believe @Cyberc is saying he owns a Studio Premier Gold with 5100 points. Same MF as studios. Interesting strategy since a 1 bdrm gold has a higher MF. Crazy that they didn't make that 5250 to be equal to the Studio Plus Plat.

Yes.
Maybe its because there are so few of the studio premiere units that they didn't bothered.

 

[ccwu]

I believe @Cyberc is saying he owns a Studio Premier Gold with 5100 points. Same MF as studios. Interesting strategy since a 1 bdrm gold has a higher MF. Crazy that they didn't make that 5250 to be equal to the Studio Plus Plat.

57th street room size
Studio / studio plus 355 sq ft (max 2)
Studio premier. 463 sq ft (max 2)
One bedroom. 710 sq ft. (Max 4)
One bedroom penthouse 718 sq ft (max 4)

The maintained fee in HGV is per square ft. So studio (studio plus) are same maintenance regardless of gold, platinum season
Studio premier is higher MF due to larger size.

It is very hard to book studio premier. We always book studio premier and exercise our HGV elite premier privilege (also owner of 57th street) to request certain room that has balcony so we can enjoy the private balcony. The private balcony only attached to studio premier. Pent house one bedroom have shared balcony. We usually get free upgrade from studio plus to studio premier (just one level free upgrade) 45 days before check in. But because studio premier are few, we just book it and request room number and tell the resort that we do not want to be upgrade to one bedroom).


Sent from my iPhone using Tapatalk

 

[brp]

It is very hard to book studio premier. We always book studio premier and exercise our HGV elite premier privilege (also owner of 57th street) to request certain room that has balcony so we can enjoy the private balcony. The private balcony only attached to studio premier. Pent house one bedroom have shared balcony. We usually get free upgrade from studio plus to studio premier (just one level free upgrade) 45 days before check in. But because studio premier are few, we just book it and request room number and tell the resort that we do not want to be upgrade to one bedroom).

We are Studio Premier people as well. Booking at T-276 days usually works. We have gotten the balcony once (I believe that there are a total of 2...or is it 4)? I always put in a request for this, but I'm guessing that being Elite (we're all resale) has more pull.

Can you share the specific room numbers for the balcony room so I can ask for those?

Cheers.

 

[magmue]

studio (studio plus) are same maintenance regardless of gold, platinum season
Studio premier is higher MF due to larger size

Studio Premier is the same maintenance fee as Studio Plus despite larger size. It’s one of the reasons we actively searched for a studio premier deed - higher point value for same MF. The contract we signed at the end of May confirms same MF as posted for regular studio in the pinned MF thread in this forum.

 

[Cyberc]

57th street room size
Studio / studio plus 355 sq ft (max 2)
Studio premier. 463 sq ft (max 2)
One bedroom. 710 sq ft. (Max 4)
One bedroom penthouse 718 sq ft (max 4)

The maintained fee in HGV is per square ft. So studio (studio plus) are same maintenance regardless of gold, platinum season
Studio premier is higher MF due to larger size.

That’s not entirely correct. The MF for a studio plus is exactly the same as for a studio premiere. I own a premiere and I pay the same as a studio plus.

 

[Nomad420]

Don't the penthouse units get daily room servicing as well, hence the higher MF? At least I thought that was case.

 

[Cyberc]

Don't the penthouse units get daily room servicing as well, hence the higher MF? At least I thought that was case.

I don’t know I haven’t booked one yet. However the rooms at the Hilton club and the residence do get daily room service.