Getting into The Quin Penthouses

[tah]

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Thanks for coming to my TED talk.

Sean

(Pics from 1804 when I stayed there in September 2021)

https://imgur.com/a/B9VsnJJ

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That is an awesome room and terrace. I must admit that my first thought was...does the room have coasters?

 

[Eric B]

Thank you!

 

[Skyyblueplaya]

Well, since you are replying to posts on the TugBBS/HGVC forum, I assume that you are aware of how the HGVC point system works. Just because I own this does not mean I have any intention of using all of my points in that one unit. In fact, my total points are about 118,000 which would get me close to 14 weeks in a studio plus in New York if I wanted. I built my ownership that way to have a pied-à-terre in the city. As I stated multiple times, this works for me and does not meet everyone else’s goals.

The main purpose of my initial post was to show how you can trade in resale equity and make the exorbitant developer costs more palatable.

Sean

Im the anomoly here, I do not own in any HGVC sense. I work for the company but I work in a TS that DOES NOT do presentations, we dont sell aggressively, I know nothing, would never experience what it is like to be in a TS presentation or IDK if i'll ever be an owner B/C my discounts as an employee are better but I digress...

I like to know the whole picture of this situation (i.e. being a timeshare owner) even though it does not affect me and my job. But i will meet people like you guys, and my property is not opened (Hurricane Ian damage, yes 2 years later) so im learning so that I too will understand what TS owners go through.

I hope im welcomed, im not the enemy i swear LOL I dont sell timeshares I help people who already own them <3

 

[Skyyblueplaya]

I think you may be new here and you may think this is a Reddit thread or something. Generally people on here are very cordial and knowledgeable about HGVC timeshare system. If you choose to be neither, then I would probably refrain from posting.

Im sorry i dont mean to be rude or even uncordial.
Im a little overly excited and I think I will leave this thread, im sorry to have caused confusion.

 

[boraxo]

I included all that info in the post. The deed has 2 units — 1BR PH (33,600 points) and Studio PH (23,040 points), fixed week (41) and fixed units (1804, 1803). I can put any of those days into the pool and just use bHC points like any other ownership.

Total points are 56,640 and MF is $8000, $0.14 per point. I actually ended up saving over $2000 in MF compared to the deeds I traded in. The deal worked for me and checked my boxes. Again, not for everyone and YMMV.

Sean

Appreciate that but still a bit hard to follow what you presently own. From above I gather your total cash cost (adding all purchases from the beginning) was $112.5k. The time value of that money at 8% is $9k per year. Your annual maintenance fees on the points are now $7.9k per year. So essentially your total cost is almost $17k per year.

But what exactly to you own? You mention HCNY, Quinn and Centrum. Do you own 2BR at all these properties? One week at each? Can you trade from October to December or does that cost more points?

Sorry for all the basic questions but I would love to understand the deal.

 

[Smclaugh99]

Appreciate that but still a bit hard to follow what you presently own. From above I gather your total cash cost (adding all purchases from the beginning) was $112.5k. The time value of that money at 8% is $9k per year. Your annual maintenance fees on the points are now $7.9k per year. So essentially your total cost is almost $17k per year.

But what exactly to you own? You mention HCNY, Quinn and Centrum. Do you own 2BR at all these properties? One week at each? Can you trade from October to December or does that cost more points?

Sorry for all the basic questions but I would love to understand the deal.

 

[Smclaugh99]

Full breakdown of my ownerships and tradebacks that began in 2010 would be too long a tale. I currently have 129,000 points if I count the 118,000 New York points plus HGVC Seaworld 11,200. I would estimate the cumulative total I have paid by retail and resale would be just south of $2.50 per point. Again, I have purposely concentrated my ownership to be in New York because for what I want to do, I need owner booking windows. As I stated previously, if I just booked studios each year in New York with my points, I could have 15+ weeks. Would I recommend this to anyone else or do I think it is a good use of my money? Not really, but it works for me.

Sean

 

[Reddart]

Though the Downtown Conrad is farther, it’s nice and I don’t mind the subway and walk to the Conrad.

And maybe everyone else knows this, but I just found out you can make this trip covered almost all the way. From the Conrad, go out the back exit from the lobby and walk across the street to the Brookfield mall. Walk south then east, and you can take escalators down to the Occulus WTC mall, where you can catch a plethora of subways and even the NJ Path trains. Catch the E, transfer to the F at Washington Sq, and emerge on the corner at the W57th stop.

 

[boraxo]

Full breakdown of my ownerships and tradebacks that began in 2010 would be too long a tale. I currently have 129,000 points if I count the 118,000 New York points plus HGVC Seaworld 11,200. I would estimate the cumulative total I have paid by retail and resale would be just south of $2.50 per point. Again, I have purposely concentrated my ownership to be in New York because for what I want to do, I need owner booking windows. As I stated previously, if I just booked studios each year in New York with my points, I could have 15+ weeks. Would I recommend this to anyone else or do I think it is a good use of my money? Not really, but it works for me.

Sean

So you just own points not penthouse weeks? That was not the impression I got from your original post. I guess we can all just go buy points if we want to stay there.

 

[brp]

So you just own points not penthouse weeks? That was not the impression I got from your original post. I guess we can all just go buy points if we want to stay there.

For HGVC, points and weeks are interchangeable with the exception of Home week, where the concept of a week matters. Even then, except for a few special cases, it's not a specific week. Just the right number of points to book 1 week in the season and unit type you own. Otherwise, just points. However, for bHC properties (like New York), owning at a specific location can have booking window and lounge access implications. But it's just points.

The unit type and season one buys just determines how many points one gets. And the amount of MFs.

Cheers.

 

[Eric B]

So you just own points not penthouse weeks? That was not the impression I got from your original post. I guess we can all just go buy points if we want to stay there.

I don’t believe that’s what was posted - The Quin is only sold as fixed week fixed units for the penthouses. It is not sold as just points, though that might be how it gets used. I own two weeks in a studio penthouses there but use them as 46,080 bHC points eligible to book at The Quin during Home Resort Priority.

You are, of course, right that anyone can just go buy points to stay there. The penthouses do seem to book up well in advance of the Club season there, though. Ideally, the bHC points used in Home Resort bookings are supposed to be from that resort, though it’s not set up that way in the system. IMHO, a studio penthouse week there is a good ownership because of the low mf/point plus the home resort.

 

[brp]

I don’t believe that’s what was posted - The Quin is only sold as fixed week fixed units for the penthouses. It is not sold as just points, though that might be how it gets used.

Thanks for the clarification/correction to what I posted above. I was citing the general case, and not aware that Quin penthouses were sold differently.

Cheers.

 

[Eric B]

For HGVC, points and weeks are interchangeable with the exception of Home week, where the concept of a week matters. Even then, except for a few special cases, it's not a specific week. Just the right number of points to book 1 week in the season and unit type you own. Otherwise, just points. However, for bHC properties (like New York), owning at a specific location can have booking window and lounge access implications. But it's just points.

The unit type and season one buys just determines how many points one gets. And the amount of MFs.

Cheers.

Not at The Quin for the penthouse units. I believe there are a few others sold as FW/FU ownerships but don’t have a list.