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West 57th Sales Presentation

A

Adrienne

TUG Member
Joined
Feb 2, 2010
Messages
69
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1
Location
Emerald Hills, CA
Had a most interesting meeting at West 57th today. Part of a promo and required meeting. They told me they were 95% sold out, that there were real estate speculators buying up units, the deal is only open for today, bla bla. My husband was really interested ( despite me kicking him under the table) but fortunately we had a plane to catch. They absolutely would not give me the papers with the prices on them so I could go home and think about it. He wouldn't even give me his card! It was today or never. I told them that in Hawaii they gave us a day to think about it and he was incredulous and then said it was a New York law that the deal had to be transacted in one day. LOL

When I asked about the new NYC development they were VERY evasive, except to mumble that it was on 59th st. Oh, and when they saw we weren't going to bite on 57th they offered 7000 points at the Hilton Club for 18K. I said, "I thought you said it was entirely sold out."
"Oh, we JUST got this in a few minutes ago."

The finishing touch was that his iphone chimed a message. He said it was his fiance' and gave me a big smile. The guy in Hawaii did the exact same thing and both times this started a conversation. I bet they can spot a sucker for a wedding at 50 yards. Anyway, if I remember correctly they offered: Studio Plus for 58K, One bedroom for 85K. + a million Hilton Honors Points. Something close to that.

Thank god we had to catch that plane. Even though I was spotting the lies, knew the tactics, and know all about resale...they might have had me if I'd had a few hours to hang around.
I will never go to one of those things again because, apparently, I have the brains of trout.
 
You survived

As a government employee i see time share sales meeting a lot like meetings at work. Seems like the person represents that this the best and you cant live with out and you are wrong if yu are not onbard. What i know is what s best for me and mine and when you attend i count the lies and dislikes and count the likes and thruths just to get a game out of it. My only hope is that i will learn something that is true and can pick up on all the lies.
And with all respect to your brain size youbshould always have a plane to catch after an hour of any meeting or presentation. We all know that you make time for what you really want in life or to learn that benefits you.
 
Adrienne said:
Anyway, if I remember correctly they offered: Studio Plus for 58K, One bedroom for 85K. + a million Hilton Honors Points. Something close to that.
Click to expand...

If you value the Honors points at a penny each, you're buying the Studio for 48K or the one bedroom for 75K. Then even if you somehow are getting two weeks per year of use in the timeshare unit, spreading the purchase over 10 years you're paying about $350/night for the studio or $500/night for the one bedroom. Then you have to add maintenance, at least another $150/night.

So looking at ten year's use, you're committing something like $500 to $650 per night if you buy from them. At those prices you'd be better off booking hotels!
 
I wouldn't depreciate this to zero over 10 years to calculate your per night costs but clearly these developer prices are at least 100% over the resale market at this property.

I hadn't heard about another planned development at 59th street. Anyone with more info on that?
 
jsb15 said:
I wouldn't depreciate this to zero over 10 years to calculate your per night costs but clearly these developer prices are at least 100% over the resale market at this property.

I hadn't heard about another planned development at 59th street. Anyone with more info on that?
Click to expand...

I was a owner's update at Myrtle Beach a few weeks ago and she mentioned East 59th St. I asked alot of questions about it, but she said she only just heard about it and didn't know any details. I even hit up the "closer" for details and he didn't know any either.
 
The MF is pretty high, though comes with food at owner lounge. The price is not unreasonable compared to price and maintenance cost of condos down on the same street... It is an ok deal if you like to visit city regularly and can afford it. I went to a sales pitch last week and the sales guy simply answered all my questions without telling a single lie:eek: I'm a bit shocked;)
 
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