Thanks
@GregT for taking a stab at this.
I am not sure what $54.6 M exactly translates to. However here's my back-of-the envelope
SWAG to provide an outside-in market priced view to compare to the cost based scenario in order to give us a range to work with.
A quick perusal of market pricing for the condos for sale at Crane puts them at $600 - $1.1 mil. so the
avg condo sales price is $850k. However, we can assume that HGVC received a bulk discount so let's say they got them for an avg of 15% off or $723k
$54.6 M divided by $723k avg condo price =
75 units
75 condo units * 52 weeks =
3900 intervals to sell
3900 intervals * $60,000* avg sale per unit =
$234M Gross Sales
Bottom line: Combining with Greg's analysis, there will be approximately 75 - 100 condo units per week if prices are $50 - $60k. If average condo prices HGVC purchased are higher end e.g. $1M** then there are about 54 units per week.
Unlike some affiliate properties where there are only a limited number of units, Crane will have a decent number of units which will enable good availability for HGVC members.
* The average retail sales price could be higher given pricing at Ocean Tower is over $100k
**The average condo sales price could also be higher than above because the developer may have sold a higher proportion of higher priced, hard-to-sell condos thus raising the average (but giving HGVC a significant discount to close out their interest and move onto the next project.)