ROFR Exercised/Passed

[livetraveleat]

Hilton waived Bay Club, 1 bedroom , platinum season, annually, purchased price $5.50, seller paid closing cost and transfer fee. Our very first HGVC so we're super stoked!

 

[tourproto]

Passed ROFR on Ocean Tower 2BR Penthouse (38400) for $40k back in December which I forgot to report.

Also just pass ROFR on Quin Studio Penthouse (23040) for $28k. Prior owner bought it for $139k.

My NYC collection is complete. Spent about $100k for the best deed at each property that would of cost $500k retail.

Now I just wish they let me trade them in 1:1 + 10-15k cash for two of the deeds to get enough retail points for Centum status.

What are the MFs for your Quin penthouse?

I am in NY now, staying at the W57. Have visited the Quin and the Central. Am not really interested in the HCNY or the Residences (just not a big fan of big hotels, I like the more "boutique-ee" places).

Really liked the Quin (common areas, gym, owners area) and the bedroom (1 bedroom premier) and of course the location is great (Central Park, subway, Carnegie).

We also liked the Central a lot. Except for location, it was just about as nice as the Quin. Nice common area and patio (although looking at the old brick building from the patio was hilarious). The members lounge and covered/heated patio IMO was better than the Quin (just not the view of 6th Ave and the Thanksgiving Day parade) and the gym didn't have as good of a view as the Quin. The Studio Premier Plus room was very nice (with Toto toilet, but no bath). The downside (depending on your POV) is the location. It is quiet being on 48th street, but it is a walk to Central Park and the high end shopping on 5th Ave (need to get to 54th Street and higher for the fancy places). It is close to Rockefeller/Radio City Music Hall though.

The room we have at the W57 is nice (Studio plus). We face away from the street so it is very quiet, but the lack of significant common areas kind of takes takes away of the ambiance vs the Quin and the Central.

If the Central was closer to Central Park, I would buy there. There is very little/no availability for the Quin on the secondary market right now but will be looking out for it. The W57 is OK, but really wish it had a better common area. I haven't seen the members lounge yet, but will see it tomorrow.

Looking at what is for sale, the MFs are much higher in NY than on Las Vegas. Our Flamingo Hilton costs us $0.13/pt on an annual basis, and the cheapest I have found for NY based on what is for sale is $0.18/pt, and sometimes up to $0.30/pt. That is a lot higher cost.

Gonna think about the Central, and will definitely look out for Quin on the secondary market.

 

[Snezz1e]

What are the MFs for your Quin penthouse?

I am in NY now, staying at the W57. Have visited the Quin and the Central. Am not really interested in the HCNY or the Residences (just not a big fan of big hotels, I like the more "boutique-ee" places).

Really liked the Quin (common areas, gym, owners area) and the bedroom (1 bedroom premier) and of course the location is great (Central Park, subway, Carnegie).

We also liked the Central a lot. Except for location, it was just about as nice as the Quin. Nice common area and patio (although looking at the old brick building from the patio was hilarious). The members lounge and covered/heated patio IMO was better than the Quin (just not the view of 6th Ave and the Thanksgiving Day parade) and the gym didn't have as good of a view as the Quin. The Studio Premier Plus room was very nice (with Toto toilet, but no bath). The downside (depending on your POV) is the location. It is quiet being on 48th street, but it is a walk to Central Park and the high end shopping on 5th Ave (need to get to 54th Street and higher for the fancy places). It is close to Rockefeller/Radio City Music Hall though.

The room we have at the W57 is nice (Studio plus). We face away from the street so it is very quiet, but the lack of significant common areas kind of takes takes away of the ambiance vs the Quin and the Central.

If the Central was closer to Central Park, I would buy there. There is very little/no availability for the Quin on the secondary market right now but will be looking out for it. The W57 is OK, but really wish it had a better common area. I haven't seen the members lounge yet, but will see it tomorrow.

Looking at what is for sale, the MFs are much higher in NY than on Las Vegas. Our Flamingo Hilton costs us $0.13/pt on an annual basis, and the cheapest I have found for NY based on what is for sale is $0.18/pt, and sometimes up to $0.30/pt. That is a lot higher cost.

Gonna think about the Central, and will definitely look out for Quin on the secondary market.

The MFs can be found in stickied MF thread. What I own is the lowest for each NYC property.
Quin 23040 $.102/pt.
Central 23040 $.118/pt.
Residence 23040 $.094/pt
W57 20160 $.141/pt

Plan to stay mostly at W57 with Quin as primary backup. Central would be my second backup. Doubt I'll stay at Residence since point cost for base studio is higher than the rest. Only bought because it has lowest MF/pt of the four and having it as third backup is still something. 3 deeds might have been enough to accomplish what I needed. I agree that Central location isn't the best. I might not have bought it if I had bought the Quin first but I already closed on the purchase when it came up for sale which I wasn't expecting for another few years.

 

[ljmiii]

HGV waived ROFR - West 57th Street by Hilton Club - EOY Odd Studio Plus (6,000 bHC points)
$199 - Date of Sale: 2/8/2024

Not a deed with a great MF/point ratio...but more of a way to dip my toe into the bHC pool. And take advantage of the ability to book Open Season and pay HGVC Inclusive Club Dues.

 

[Reddart]

HGV waived ROFR - West 57th Street by Hilton Club - EOY Odd Studio Plus (6,000 bHC points)
$199 - Date of Sale: 2/8/2024

Not a deed with a great MF/point ratio...but more of a way to dip my toe into the bHC pool. And take advantage of the ability to book Open Season and the ability to pay HGVC Inclusive Club Dues.

Been eyeing EOY gold deeds for those purposes. Platinum EOY studios seem to be rarer than hens teeth, and I’m guessing they would go for a premium if they do show up. Might just bite the bullet on a platinum annual studio.

 

[CalGalTraveler]

Congrats @ljmiii You will also have access to the owners lounge which is a nice benefit.

 

[Mongoose]

Three weeks in and no decision from HGVC. What happens if the don’t respond within 30 days?

 

[GT75]

Nothing.

 

[dioxide45]

Three weeks in and no decision from HGVC. What happens if the don’t respond within 30 days?

This is usually caused by the closing company not submitting it when they said they did.

 

[Mongoose]

This is usually caused by the closing company not submitting it when they said they did.

Probably right!

 

[CalGalTraveler]

Been eyeing EOY gold deeds for those purposes. Platinum EOY studios seem to be rarer than hens teeth, and I’m guessing they would go for a premium if they do show up. Might just bite the bullet on a platinum annual studio.

I have never seen an EOY Premier Studio Plat at W57. Not sure if they offered them when the building was first sold in 2013. The Annual premier studios are rarer than a hens tooth and the developer tends to keep those to upsell owners.

 

[letsgobobby]

Three weeks in and no decision from HGVC. What happens if the don’t respond within 30 days?

I'm 14 days into a W57 STP Plat, very experienced reseller told me today he expects to hear within next 5-7 days.

 

[letsgobobby]

HGV waived ROFR - West 57th Street by Hilton Club - EOY Odd Studio Plus (6,000 bHC points)
$199 - Date of Sale: 2/8/2024

Not a deed with a great MF/point ratio...but more of a way to dip my toe into the bHC pool. And take advantage of the ability to book Open Season and pay HGVC Inclusive Club Dues.

did you enter in rofr database?

 

[ljmiii]

did you enter in rofr database?

No...thank you for reminding me

 

[Mongoose]

Happy to report a 7680 point Elara I am buying just passed ROFR for $700. It took about 3 weeks. Excellent maintenance fees to point ratio. I will post on ROFR.

 

[motherforce0517]

(I know the maintenance fees are high, but I specifically wanted a NYC property.) Just passed ROFR on a $1 ebay sale for 16000 points at HCNY.

 

[Eggrollcreative]

Don’t understand why they can’t buy or not buy it before you find the buyer. It’s so rude to do it at the very back end like that. Wasting everybody’s time.

 

[Mongoose]

Don’t understand why they can’t buy or not buy it before you find the buyer. It’s so rude to do it at the very back end like that. Wasting everybody’s time.

Because generally they have plenty of unsold inventory and would rather have you pick up the MFs. Yes, it’s rude!

 

[dioxide45]

Don’t understand why they can’t buy or not buy it before you find the buyer. It’s so rude to do it at the very back end like that. Wasting everybody’s time.

What we have seen is that developers don't actually go out into the wild west of the secondary market to pick up weeks to buy. They can just take their pick of what comes across their desk through ROFR.

 

[CalGalTraveler]

They get the lowest possible negotiated price vs. market asking price.

 

[jfullard]

(I know the maintenance fees are high, but I specifically wanted a NYC property.) Just passed ROFR on a $1 ebay sale for 16000 points at HCNY.

I have been weighing Vegas against NYC. Can you explain your logic behind the preference for NY?

 

[letsgobobby]

I have been weighing Vegas against NYC. Can you explain your logic behind the preference for NY?

you would buy these deeds for very different reasons

NYC MFs cost about double Las Vegas. But you get a lengthy members only reservation window, access to the owners lounge at the resort you own, and the ability to get all inclusive club membership which lets you make all club reservations for no fee.

Vegas points are cheap (except Trump) and are used as point generators throughout HGVC.

Owning each can work

 

[jfullard]

you would buy these deeds for very different reasons

NYC MFs cost about double Las Vegas. But you get a lengthy members only reservation window, access to the owners lounge at the resort you own, and the ability to get all inclusive club membership which lets you make all club reservations for no fee.

Vegas points are cheap (except Trump) and are used as point generators throughout HGVC.

Owning each can work

Thank you for that explanation. I haven't seen a ton of listings for the Quinn, but I will keep an eye out (and fingers crossed).

 

[letsgobobby]

still waiting to hear on rofr. It was submitted 4/20 per broker

30 days out from contract signed

hopefully any day

 

[letsgobobby]

just reached out again and ROFR passed!

W57th STP Plat 8400 annual

$609 + $1700 transfer/closing plus HGVC activation

includes free 2024 points

This is our 2nd W57th and 5th deed overall and should do us for a while. Or I need to retire sooner.