ROFR Exercised/Passed

[Sky313]

where are some of you guys finding these super deals

 

[FilthyForever]

Boulevard Annual Platinum 1 Bdr Plus - 9920 points
Passed at $3500

First usage 2025. Buyer credited current 2023 MF at closing (as an estimate for 2024 MF).

Posted to ROFR.net

I thought I had a really great deal until I saw GT75's deal for his 3 Bdr Plus!

This is my favorite deed / unit type in the entire sytem. Let me know when you're ready to sell it :] Congrats!

 

[rlocke]

ROFR just passed on my first HGVC purchase. Grand Waikikian 2bed+. 20,160 annual points for $15K.

 

[letsgobobby]

ROFR just passed on my first HGVC purchase. Grand Waikikian 2bed+. 20,160 annual points for $15K.

go big or go home!

congrats

 

[Yzfguy06]

ROFR just passed on my first HGVC purchase. Grand Waikikian 2bed+. 20,160 annual points for $15K.

Hope the mf aren’t too bad. Congrats in the purchase.

 

[rlocke]

Hope the mf aren’t too bad. Congrats in the purchase.

They are $2400 ish, not cheap by any means.. But almost guarantees us the week we want at the resort we want. 3 young kids so the in-suite laundry was key. Almost bought a high points Las Vegas resort but just accepted the higher MF to not have to try and walk a reservation. Just happy to be in the club officially!

 

[letsgobobby]

how long does rofr normally take? Does "a few days up to 2 weeks" seem average?

 

[HuskerATL]

how long does rofr normally take? Does "a few days up to 2 weeks" seem average?

Yes but probably depends on how busy they are.

 

[sv.patmos]

ROFR passed on my first HGVC property at Kings Land, 2 Bedroom Plus (2 KP), Annual Platinum, 20,160 points. $14,000

 

[letsgobobby]

good deed, and welcome

 

[Smclaugh99]

My NY portfolio continues to grow. Just got closing documents and Estoppel for
The Central at 5th Studio Penthouse, platinum annual deed, 23040 points.

Purchase price $17,000 (not including closing costs and 2024 MF of $2700).

Sean

 

[GMan82]

My NY portfolio continues to grow. Just got closing documents and Estoppel for
The Central at 5th Studio Penthouse, platinum annual deed, 23040 points.

Purchase price $17,000 (not including closing costs and 2024 MF of $2700).

Sean

Out of curiosity, if resale is $17k, do you know how much the original was? I don’t remember if that shows up on the estoppel or if you have to wait for a sales agent to tell you

 

[dayooper]

Out of curiosity, if resale is $17k, do you know how much the original was? I don’t remember if that shows up on the estoppel or if you have to wait for a sales agent to tell you

At one time, there was a 2 bedroom penthouse at either the Quin or Central on 5th that was $499,999 a week. Not a studio, but a penthouse.

 

[Smclaugh99]

Out of curiosity, if resale is $17k, do you know how much the original was? I don’t remember if that shows up on the estoppel or if you have to wait for a sales agent to tell you

It doesn’t say on the estoppel, but I would imagine it was north of $140k. The studio premiere at the Quin that I purchased retail was $120k (I paid $32k after equity from trading back 2 resale deeds from The Residences and West 57th).

Sean

 

[GT75]

if you have to wait for a sales agent to tell you

You can check the county records. I have done that for the property which I recently purchased in LV.

btw. I believe this is also how the TS scammers get your telephone number.

 

[Snezz1e]

Out of curiosity, if resale is $17k, do you know how much the original was? I don’t remember if that shows up on the estoppel or if you have to wait for a sales agent to tell you

If you know buyer's name you can look it up here: https://a836-acris.nyc.gov/DS/DocumentSearch/PartyName

I'm currently in process of buying the following in NYC through Grand Vacation Title. They never tell me if ROFR passed but they did charge me the $3k deposit for each one a week ago so I'm assuming it did.

Central at 5th-23040 for $17k plus closing. Original purchase price was $117k in 2023.
Residence-23040 for $25k plus closing. Original price $117k in 2018
W57-20160 for $10k plus closing. Original price $115k in 2022

I feel bad for these people who paid so much only a few years ago.

 

[GT75]

I feel bad for these people who paid so much only a few years ago.

Certainly agree with that.

 

[Smclaugh99]

If you know buyer's name you can look it up here: https://a836-acris.nyc.gov/DS/DocumentSearch/PartyName

I'm currently in process of buying the following in NYC through Grand Vacation Title. They never tell me if ROFR passed but they did charge me the $3k deposit for each one a week ago so I'm assuming it did.

Central at 5th-23040 for $17k plus closing. Original purchase price was $117k in 2023.
Residence-23040 for $25k plus closing. Original price $117k in 2018
W57-20160 for $10k plus closing. Original price $115k in 2022

I feel bad for these people who paid so much only a few years ago.

That’s an awesome collection and glad I’m not the only one with multiple deeds at the NYC properties.

After this closing, I’ll have:
HCNY 46,400 points
West 57th 25,200 points (3 STP deeds)
The Quin 20,160 points (SPP)
The Central at 5th 23,040 points (SPH)

Most have been resale except majority of my HCNY and The Quin. I wouldn’t mind losing one of the W57 deeds (that has 2 intervals on one deed) to clean up my MF since the BHC points are co-mingled from one bucket. I was holding it to see about trading in for a Quin penthouse in the future. Again, my plan has always been to use my NYC ownership as a pied-à-terre.

Sean

 

[GMan82]

Wow those are amazing deals then, but those poor folks who owned for such a short amount of time! $117k —> $17k is roughly 85% depreciation!

 

[HedonisticEpicurean]

Wow those are amazing deals then, but those poor folks who owned for such a short amount of time! $117k —> $17k is roughly 85% depreciation!

I have one that is closing soon that passed ROFR for about 90% off what the seller paid less than 3 years ago. I find it sad for the seller as well. The one thing to remember - the sellers for some reason need to sell at any price. But still very sad.

 

[Snezz1e]

That’s an awesome collection and glad I’m not the only one with multiple deeds at the NYC properties.

After this closing, I’ll have:
HCNY 46,400 points
West 57th 25,200 points (3 STP deeds)
The Quin 20,160 points (SPP)
The Central at 5th 23,040 points (SPH)

Most have been resale except majority of my HCNY and The Quin. I wouldn’t mind losing one of the W57 deeds (that has 2 intervals on one deed) to clean up my MF since the BHC points are co-mingled from one bucket. I was holding it to see about trading in for a Quin penthouse in the future. Again, my plan has always been to use my NYC ownership as a pied-à-terre.

Sean

Now I just need a decent deal on a Quin deed to complete my collection. Goal is to own every NYC deed (except HCNY) at the cheapest MF per point. Will mostly stay at W57 since it's cheapest 1 bed, biggest studio, and convenient location. But owning all other locations gives me extra flexibility to book last minute/open season and gives lounge access.

 

[BingoBangoBongo]

Wow those are amazing deals then, but those poor folks who owned for such a short amount of time! $117k —> $17k is roughly 85% depreciation!

What I saw on some of my deed searches was the same names on multiple transactions that appear to be people trading in one deed for another, likely with more cash added. The Rinse and repeat sales process.

 

[dayooper]

What I saw on some of my deed searches was the same names on multiple transactions that appear to be people trading in one deed for another, likely with more cash added. The Rinse and repeat sales process.

Yup, new money every time with more deeds that they were paid to take back to sell.

 

[Snezz1e]

What I saw on some of my deed searches was the same names on multiple transactions that appear to be people trading in one deed for another, likely with more cash added. The Rinse and repeat sales process.

I do wonder if trade in transaction are reported differently. I have 20+ deeds and when I was working on my trade-in and the trade-in values in their system 100% match up to values I pulled from property records (LV,Hawaii,NYC,DC,SC).

However, for my trade in transaction in Las Vegas, the new deed recorded only reports a value of like $1k even though retail value is $100k+ and my new money in was $20k+. This is only the search engine amount. Haven't been mailed full deed/documents yet which may have extra information. Nevada does have a transfer tax so lower reported amount does save them some money. Hopefully everything they're doing is legal.

Maybe everything I owned was retail without trade or the state required reporting retail value not net new cash.

 

[letsgobobby]

Wow those are amazing deals then, but those poor folks who owned for such a short amount of time! $117k —> $17k is roughly 85% depreciation!

ya, interesting tool

My unit sold in 2015 for $54,500 which is about 20x what we paid.