Comments on a potential NYC purchase

[Cyberc]

Hi Tuggers

I would appreciate your thoughts and comments on a potential purchase at West 57th street.

I've been thinking about buying for a long time. We normally go to NYC every other year, sometimes every year. We normally go between may-august. We did december once which was nice but we like the warm weather.

We stay for a week. Up until now we have been staying at the Hilton Club and West 57th street. We have booked the resorts through RCI and at 2.400 club points its a good value.

When you book through rci you will have to be somehow flexible with your dates. If I buy here then I dont need to plan that far ahead and can take more spur of the moments trips (more than 45 days out) So if I buy I might end up going every year instead of every other.

I know if I decide to purchase the cost will be around $15.000 + costs for a studio with 5.250 points. The annual maintenance fee for a studio is approx $1.500. I would assume the NYC property is somehow holding its resale value, if not so be it. If I price out a 1 week stay at hilton.com the cost is approx $3.400 in a studio so I would "save" approx $1.900 by owning there. Over time the price of the MF will go up but then the price on hilton.com will also go up. If I could book during the gold season(week 29-34) I could "save" 1.500 points each year. Those points could either be saved for the year after or used to prolong my stay.

If I buy I will get access to the lounge which in return will save some money on food(not much I expect). Will I have access to the lounge if I own there but use points from another property during the 45 day window?

I know that the loophole for booking west 57th using points from other properties has been closed, this could potentially mean that more inventory will be available during the 45 day window should I decide not to buy. If more inventory is available I could start booking using the HGVC booking engine and not RCI.

Another idea that just came to mind to maximize you purchase and your points. Could you potentially book more than 45 days out using west 57th points and then at 40days out change your reservation and either drop a day or add a day and then use points from another property?

At some point I might want to bring my two oldest daughters and then a studio wont be enough, and then I wont have enough points for a 1br and would need to borrow or use any saved points.

Those that own at west57 what reasoning did you apply to buy there?

Any and all thoughts would be appreciated.

TIA

Regards.

 

[CalGalTraveler]

Interesting idea @Cyberc on points stretching. I just did a dummy booking withing 45 days and the 2018 points from my Vegas property worked because we did not have 2018 NYC points (but had 2019 available). Seems feasible since the 45 day window allows points from the entire network.

I am not sure what would happen within 45 days if I had 2018 NYC points available. However since the rules allow any points to be used within 45 day club window, if the system does not allow it, you could call in and ask to have the appropriate points apply for no charge because NYC owners get free phone bookings for the entire HGVC system.

Another points stretching option. As a NYC owner you also have access to open season rates. Non-owners do not get access to open season rates in NYC.

Below is a post which specifies some booking options and the points chart. We upgraded most of the time - you can easily get a 1 bedroom for a week in gold with studio points. Gold season includes dates in summer from weeks 28 - 33 (July - Aug). Midweek bookings are also an option to stretch points. In fact we have never used our home week reservations but reserved with points to get the units and exact dates we want.

https://tugbbs.com/forums/index.php?threads/check-your-accounts.265181/#post-2072907

We bought for several reasons:

1) We wanted the convenience and comfort of booking in advance because we are 3000 miles away and trying to play the 45 day game does not allow enough time to purchase airfare to/from NYC at a reasonable cost.
2) We traveled to Europe frequently and we wanted a stop off point to adjust our time clocks and reduce jet lag since we are from the west coast. In addition airfare deals to Europe and beyond are often much less expensive in/out of NYC.
3) The ability to easily upgrade to a larger unit (or even a penthouse) - which you cannot do if you play the 45 day game because the units are gone.
4) We sometimes have business in NYC. Convenience see #1
5) Owning a slice of the big apple - location, location, location

 

[Cyberc]

Hi

Thanks for your reply.

How often are there anything worthwhile as a open season?

What are your thoughts about price for a 5.250 contract?

My idea was to go mainly during gold season to stretch the points.

Would be interesting to know if you could swap your points at 45 days out.

 

[JohnPaul]

We bought pre construction at W 57th St. Last August we gave up our ownership at W 57th St to buy at The Residences.

We love NYC and W 57th St and decided to buy back our ownership there (studio 5250 points platinum).

We made one offer at $15,000 and Hilton did ROFR. On our next offer at $20,000 Hilton did not exercise ROFR and title is recording right now. We were told it would take $20,000 to pass ROFR. So....consider that in your calculations. (We did get banked 2017 points with our purchase so are excited to have extra points this year.)

We live on the West Coast so we don't tend to take lots of little trips. We typically go in August (gold season). If I drop a weekend night I can typically do 6 days in a one bedroom with our points.

As an owner, you do get access to the lounge. The lounge and the lounge staff are one of our favorite things about the property. Frankly, I think you will save a lot of money. Breakfast is quite complete. I can't imagine getting anything similar for less than $15 - $20 per person elsewhere. Social hour (5 to 7) is wine and beer and hot and cold snacks (too hard to spell that other word). You can make a light meal of it if you are so inclined. The lounge has an outside deck that is really lovely unless it's raining or snowing.

They have clarified their policy now such that an owner at W 57th St gets lounge access however they are staying there.

Be aware that stays of 3 days or less incur an $85 cleaning fee. Also, W 57th St has two club fee options. The regular $170 where you pay for your reservations. I believe the free reservation option is now $290. You can change from year to year if you contact them.

The regular studios are the most common unit type so obviously they tend to be easiest to get. I usually book at 9 months out (when you can do any days or unit type) and have never had problems getting what I wanted including the penthouse. Thanksgiving is an event week but I was even able to book that once by keeping my eyes open. Watched the parade from our window.

I'm sure there are probably other options for staying in New York that may cost less overall but we love W 57th St and are also excited about The Residences. I think they will just be somewhat different experiences.

I know the sales people tell us that Hilton Club owners and W 57th St owners tend to be pretty strong on their own property being best.

We own lots of timeshares and let others use them for wedding gifts etc but NOONE else uses our NYC properties.

 

[brp]

Would be interesting to know if you could swap your points at 45 days out.

I like the idea, and it's worth trying. I just don't hold out much hope for availability. But we have a trip booked in April with our "Club"
points and I will try this.

Cheers.

 

[Cyberc]

We bought pre construction at W 57th St. Last August we gave up our ownership at W 57th St to buy at The Residences.

We love NYC and W 57th St and decided to buy back our ownership there (studio 5250 points platinum).

We made one offer at $15,000 and Hilton did ROFR. On our next offer at $20,000 Hilton did not exercise ROFR and title is recording right now. We were told it would take $20,000 to pass ROFR. So....consider that in your calculations. (We did get banked 2017 points with our purchase so are excited to have extra points this year.)

We live on the West Coast so we don't tend to take lots of little trips. We typically go in August (gold season). If I drop a weekend night I can typically do 6 days in a one bedroom with our points.

As an owner, you do get access to the lounge. The lounge and the lounge staff are one of our favorite things about the property. Frankly, I think you will save a lot of money. Breakfast is quite complete. I can't imagine getting anything similar for less than $15 - $20 per person elsewhere. Social hour (5 to 7) is wine and beer and hot and cold snacks (too hard to spell that other word). You can make a light meal of it if you are so inclined. The lounge has an outside deck that is really lovely unless it's raining or snowing.

They have clarified their policy now such that an owner at W 57th St gets lounge access however they are staying there.

Be aware that stays of 3 days or less incur an $85 cleaning fee. Also, W 57th St has two club fee options. The regular $170 where you pay for your reservations. I believe the free reservation option is now $290. You can change from year to year if you contact them.

The regular studios are the most common unit type so obviously they tend to be easiest to get. I usually book at 9 months out (when you can do any days or unit type) and have never had problems getting what I wanted including the penthouse. Thanksgiving is an event week but I was even able to book that once by keeping my eyes open. Watched the parade from our window.

I'm sure there are probably other options for staying in New York that may cost less overall but we love W 57th St and are also excited about The Residences. I think they will just be somewhat different experiences.

I know the sales people tell us that Hilton Club owners and W 57th St owners tend to be pretty strong on their own property being best.

We own lots of timeshares and let others use them for wedding gifts etc but NOONE else uses our NYC properties.

In the past we have stayed at the Hilton club and at W57. At the club we had access to the lounge which was great, the hours between 5-7 are so great i really enjoyed the meet and greet.

I'm glad to hear that the lounge are by ownership and not that you have to use your W57 points to get access. The increased club dues does they also include free reservations for your other properties? ie. you use your vegas points in florida? I own an affiliate too which has it own membership, but I could just move the points to the other account if its by account only.

I think if I told my daughters that "Sorry the new york apartment is only for mom and dad" that they would be very upset So I would have to somehow "share"

Is open season worth the cash and are there usually any availability during the summer gold months?

 

[Arimaas]

Just a comment, nothing of substance to contribute, but being a life long New Yorker, I find it fascinating that you guys can come visit and really enjoy my town. I find that I really take nyc for granted. One day would love to be able to be a tourist in my own town.

 

[brp]

Just a comment, nothing of substance to contribute, but being a life long New Yorker, I find it fascinating that you guys can come visit and really enjoy my town. I find that I really take nyc for granted. One day would love to be able to be a tourist in my own town.

I was born and raised in NYC. Then, it was just "home." 40 years later, it's a place I love to visit, but as a native...and not a tourist. Still the greatest f'in City on Earth.

Cheers.