Museum Tower

hjkll · Post by **hjkll** » 03 Oct 2018 23:03

Tucy wrote:September 2018

Zero units sold
100 sold in 70 months. (1.43 per month) 14 remaining.
Rolling 12-month sales: 15 (1.25 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 8 months.
Sellout projection, based on the pace of sales over the prior 12 months: 6 years, 10 months.

All we need to know is units sold this month and how many units left til sellout. These projections too much info & not that helpful

Dallas_Uptown · Post by **Dallas_Uptown** » 12 Oct 2018 11:37

I find the monthly sales postings both interesting and helpful.

Matt777 · Post by **Matt777** » 12 Oct 2018 13:07

Dallas_Uptown wrote:I find the monthly sales postings both interesting and helpful.

Agreed, thanks Tucy!

Cabrio330 · Post by **Cabrio330** » 13 Oct 2018 05:52

There are definitely unhelpful posts in here, but they aren't Tucy's.

Thanks, Tucy, please keep the updates coming!

Post by **tamtagon** » 13 Oct 2018 10:15

Maybe we should have a tracking page or whatever, kinda like the pending projects page, arranging data of the handful of pricey condos for which Tucy has provided monthly sales progress.

Cabrio330 · Post by **Cabrio330** » 14 Oct 2018 16:26

Or he can just keep updating this thread. Is it really that hard for certain people to NOT click this thread since they already know what is in it?

dallaz · Post by **dallaz** » 02 Nov 2018 07:43

Last night, Museum Tower was featured on the Science Channel’s “Engineering Catastrophes”. It’s crazy that the building’s reflection is still an issue, well after its completion. I wonder if the issue will ever be fixed...

muncien · Post by **muncien** » 02 Nov 2018 10:17

dallaz wrote:Last night, Museum Tower was featured on the Science Channel’s “Engineering Catastrophes”. It’s crazy that the building’s reflection is still an issue, well after its completion. I wonder if the issue will ever be fixed...

I'm curious if it ever 'really' was an issue. I mean, how many years has it been? Perhaps shuffling a few pieces of art around WAS the fix.

* It has been far too long since we last opened this can of worms. lol Figured I'd help get things rolling.

dallaz · Post by **dallaz** » 02 Nov 2018 11:19

The Glare from Museum Tower makes its national television debut. So, what did we learn? It's really hot in Dallas!

https://www.dallasnews.com/arts/archite ... hot-dallas

The Glare from Museum Tower made its debut on national television Thursday night. The music and the breathless narration did everything possible to add gasoline to the fire of the show's title — Engineering Catastrophes, which, appropriately, aired the night after Halloween on the Science Channel.

We learned that, on an 80-degree day, "The Towering Inferno" of heat blasting from the building next door can raise the temperature in the garden of the Nasher Sculpture Center to 110 degrees! We learned that the 270,000 square feet of reflective glass shooting bolts of sun like a cosmic ray gun off the tower is "a design flaw that the locals just can't ignore."

This, the narrator informed us, "is the last place you'd want a super-shiny building," because Dallas is "one of the sunniest places in the United States." Keep in mind that the show is produced in Britain by BriteSpark Films, whose London office no doubt sees a fair amount of rain, not to mention cooler climes.

Italian designer Fulvio Serra, whom the broadcast credits with building the Nasher's roof system — Serra worked under the auspices of Nasher architect and fellow Italian Renzo Piano — praised the roof design as being its own "sculpture in a museum of sculpture."

As the narrator explained, with all the pop science fervor he could muster, restoring the roof "to its former glory would mean modifying every aluminum shell," referring to the egg-crate-like "oculi" that permeate the Nasher roof. Serra has an idea about how to do that, which he explained in our recent story on The Glare, although the show stopped short of offering a single possible remedy.

The biggest hurdle to fixing The Glare is money — according to the show, whose glaring omission (sorry) was failing to mention even once the owner of Museum Tower, the Dallas Police and Fire Pension System. Nor did the show's 15-minute segment on The Glare (yes, that's all it was) dare to tiptoe into the nasty battle between the pension fund and the Nasher that made finding a solution as easy as peace in the Middle East. Keep in mind, The Glare recently passed its seventh birthday.

Nor did the show venture into the swamp of the fund's near-financial collapse that brought the City of Dallas to its knees before Dallas Mayor Mike Rawlings, the Texas Legislature and the pension fund cobbled together a solution.

"Sometimes, buildings are built that are gorgeous and beautiful and wonderful, but you have to look at the effect it has on the community," said Petey Parker, who lives in One Arts Plaza, which is east of Museum Tower. As we all know, The Glare has directed its ray gun primarily to the west, where the Nasher sits like a fully baked, stationary target.

The narrator wrapped it all up by saying:

"Until a solid solution can be agreed upon, Museum Tower and its neighbors will simply have to avert their eyes and hope for the best."

dallaz · Post by **dallaz** » 02 Nov 2018 11:37

muncien wrote:
dallaz wrote:Last night, Museum Tower was featured on the Science Channel’s “Engineering Catastrophes”. It’s crazy that the building’s reflection is still an issue, well after its completion. I wonder if the issue will ever be fixed...
I'm curious if it ever 'really' was an issue. I mean, how many years has it been? Perhaps shuffling a few pieces of art around WAS the fix.

* It has been far too long since we last opened this can of worms. lol Figured I'd help get things rolling.

Hmmm I agree, it seems like the only real issue is with the Nasher. Come to think of it, I haven’t heard of any major problems with the other surrounding properties.

Cbdallas · Post by **Cbdallas** » 02 Nov 2018 11:38

This is not the droid you are looking for nothing to see move along.

Post by **tamtagon** » 02 Nov 2018 12:24

It's an issue from the same bag of issues that included the Trinity River Tolled Highway, Humann 'Non-profit' operating Fair Park.

Tucy · Post by **Tucy** » 06 Nov 2018 08:16

October 2018

Zero units sold
100 sold in 71 months. (1.41 per month) 14 remaining.
Rolling 12-month sales: 15 (1.25 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 9 months.
Sellout projection, based on the pace of sales over the prior 12 months: 6 years, 11 months.

jimmyx18 · Post by **jimmyx18** » 19 Nov 2018 15:32

14 remaining units isn't too bad. Sure, its taken longer than you'd hope it would have (plus the horrible pension fund mess), but it's nice that Dallas is able to almost fill that kind of tower. FOUTA, what's your opinion?

Post by **cowboyeagle05** » 19 Nov 2018 17:41

To say its filled is kinda skirting the truth but yes some units have been sold to someone/company. This ain't like townhomes in Uptown they sold to lots of different types of interests that don't always mean they are occupied. WHo wants to chip in for a few units to put on AirBNB :

jimmyx18 · Post by **jimmyx18** » 20 Nov 2018 08:08

That's why I said "almost fill" instead of "filled". The point on the businesses buying many of they units is well taken. Not sure why I let that slip my mind considering I commented on the businesses buying units in this building a couple years ago. Here's hoping my brain works a bit better today! And yes, let's all chip in for the Dallas Ft Worth Urban Forum unit!! Maybe the Nasher will chip in a few dollars towards our endeavor!

Tucy · Post by **Tucy** » 07 Dec 2018 00:11

November 2018

Zero units sold
100 sold in 72 months. (1.39 per month) 14 remaining.
Rolling 12-month sales: 13 (1.08 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 11 months.
Sellout projection, based on the pace of sales over the prior 12 months: 7 years, 1 month.

Tucy · Post by **Tucy** » 02 Jan 2019 15:37

December 2018

Two units sold (first sale since July)
102 sold in 73 months. (1.4 per month) 12 remaining.
Rolling 12-month sales: 13 (1.08 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 10 months.
Sellout projection, based on the pace of sales over the prior 12 months: 7 years, 1 month.

Tucy · Post by **Tucy** » 02 Feb 2019 17:44

January 2019

One unit sold.

103 sold in 74 months. (1.39 per month) 11 remaining.
Rolling 12-month sales: 14 (1.17 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 10 months.
Sellout projection, based on the pace of sales over the prior 12 months: 7 years

Tucy · Post by **Tucy** » 04 Mar 2019 10:55

February 2019

One unit sold.

104 sold in 75 months. (1.39 per month) 10 remaining.
Rolling 12-month sales: 14 (1.17 per month)

Sellout projection, based on the pace of sales thus far: 6 years, 11 months.
Sellout projection, based on the pace of sales over the prior 12 months: 7 years

Tucy · Post by **Tucy** » 08 Apr 2019 11:28

March 2019

Zero units sold.

104 sold in 76 months. (1.37 per month) 10 remaining.
Rolling 12-month sales: 12 (1 per month)

Sellout projection, based on the pace of sales thus far: 7 years.
Sellout projection, based on the 12-month pace of sales: 7 years, 2 months.

Tucy · Post by **Tucy** » 08 May 2019 11:50

April 2019

One unit sold.

105 sold in 77 months. (1.36 per month) 9 remaining.
Rolling 12-month sales: 12 (1 per month)

Sellout projection, based on the pace of sales thus far: 7 years.
Sellout projection, based on the 12-month pace of sales: 7 years, 2 months.

The_Overdog · Post by **The_Overdog** » 08 May 2019 11:53

I am going to miss the updates for this place when it finally sells out 1 year from now (taking the over on 7 years 2 months estimate).

Post by **tamtagon** » 08 May 2019 12:11

If you select 115 dwellings in Highland Park which would represent a list price array similar to the units at Museum Tower, how many of the dwellings would be not be occupied? Of these 115 HP dwellings, would an entire calendar year pass with one or more vacancies?

Dallas12 · Post by **Dallas12** » 09 May 2019 13:10

tamtagon wrote:If you select 115 dwellings in Highland Park which would represent a list price array similar to the units at Museum Tower, how many of the dwellings would be not be occupied? Of these 115 HP dwellings, would an entire calendar year pass with one or more vacancies?

Umm this seems like an apples to oranges comparison on basically every level outside of price point. Single family versus multi family, etc aside, a huge driver for people living in UP/HP is the school system.

Post by **tamtagon** » 09 May 2019 13:11

I know, still curious.

Tucy · Post by **Tucy** » 05 Jun 2019 12:33

May 2019

Zero units sold.

105 sold in 78 months. (1.35 per month) 9 remaining.
Rolling 12-month sales: 11 (.92 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 1 month.
Sellout projection, based on the 12-month pace of sales: 7 years, 4 months.

ContriveDallasite · Post by **ContriveDallasite** » 05 Jun 2019 14:47

Any infos regarding price reductions on units facing the new tower construction side?

Tucy · Post by **Tucy** » 10 Jun 2019 10:36

ContriveDallasite wrote:Any infos regarding price reductions on units facing the new tower construction side?

Good question. Unfortunately, I have no idea. There does seem to have been a recent spurt of resales, but I don't know where in the building they are located.

Post by **Tnexster** » 10 Jun 2019 13:09

For those units facing south Atelier looks like it will be a significant view blocker. Guess that's the way it rolls in the city.

Tucy · Post by **Tucy** » 08 Jul 2019 14:11

June 2019

One unit sold.

106 sold in 79 months. (1.34 per month) 8 remaining.
Rolling 12-month sales: 11 (.92 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 1 month.
Sellout projection, based on the 12-month pace of sales: 7 years, 4 months.

Post by **tamtagon** » 08 Jul 2019 14:54

so, it's 93% occupied?

Tucy · Post by **Tucy** » 07 Aug 2019 13:42

July 2019

Zero sold.

106 sold in 80 months. (1.325 per month) 8 remaining.
Rolling 12-month sales: 6 (.5 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 3 months.
Sellout projection, based on the 12-month pace of sales: 8 years.

dallasite24 · Post by **dallasite24** » 08 Aug 2019 12:18

tamtagon wrote:so, it's 93% occupied?

Owned, but not necessarily occupied.

Tucy · Post by **Tucy** » 16 Sep 2019 13:12

August 2019

Zero sold.

106 sold in 81 months. (1.309 per month) 8 remaining.
Rolling 12-month sales: 6 (.5 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 4 months.
Sellout projection, based on the 12-month pace of sales: 8 years, 1 month.

Tucy · Post by **Tucy** » 03 Oct 2019 10:05

September 2019

One sold.

107 sold in 82 months. (1.305 per month) 7 remaining.
Rolling 12-month sales: 7 (.583 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 4 months.
Sellout projection, based on the 12-month pace of sales: 7 years, 10 months.

Tucy · Post by **Tucy** » 04 Nov 2019 10:49

October 2019

Zero sold.

107 sold in 83 months. (1.289 per month) 7 remaining.
Rolling 12-month sales: 7 (.583 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 5 months.
Sellout projection, based on the 12-month pace of sales: 7 years, 11 months.

FWIW, they have sold 5 in 2019.

jetnd87 · Post by **jetnd87** » 04 Nov 2019 13:04

To contextualize, is that a lot or a little?

Tucy · Post by **Tucy** » 02 Dec 2019 10:23

November 2019

One sold.

108 sold in 7 years. (1.286 per month) 6 remaining.
Rolling 12-month sales: 8 (.667 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 5 months.
Sellout projection, based on the 12-month pace of sales: 7 years, 9 months.

They have sold 6 in CY 2019.

Tucy · Post by **Tucy** » 06 Jan 2020 11:41

December 2019

Zero sold.

108 sold in 85 months. (1.27 per month) 6 remaining.
Rolling 12-month sales: 6 (.5 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 6 months.
Sellout projection, based on the 12-month pace of sales: 8 years, 1 month.

They sold 6 in CY 2019.

Tucy · Post by **Tucy** » 21 Feb 2020 17:31

January 2020

Two sold.

110 sold in 86 months. (1.28 per month) 4 remaining.
Rolling 12-month sales: 7 (.583 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 6 months.
Sellout projection, based on the 12-month pace of sales: 7 years, 9 months.

Post by **Tnexster** » 21 Feb 2020 23:02

So they are at 96%. Penthouse is still available?

Tucy · Post by **Tucy** » 09 Mar 2020 10:41

February 2020

Zero sold.

110 sold in 87 months. (1.26 per month) 4 remaining.
Rolling 12-month sales: 6 (.5 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 7 months.
Sellout projection, based on the 12-month pace of sales: 7 years, 11 months.

And, yes, a Penthouse is still available

Post by **Tnexster** » 09 Mar 2020 14:51

Maybe this one is just never going to sell out.

Tucy · Post by **Tucy** » 07 Apr 2020 11:51

March 2020

Zero sold.

110 sold in 88 months. (1.25 per month) 4 remaining.
Rolling 12-month sales: 6 (.5 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 8 months.
Sellout projection, based on the 12-month pace of sales: 8 years.

Tucy · Post by **Tucy** » 04 May 2020 11:01

April 2020

Zero sold.

110 sold in 89 months. (1.24 per month) 4 remaining.
Rolling 12-month sales: 5 (.42 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 9 months.
Sellout projection, based on the rolling 12-month pace of sales: 8 years, 3 months.

Tucy · Post by **Tucy** » 07 Jun 2020 16:05

May 2020

One sold.

111 sold in 90 months. (1.23 per month) 3 remaining.
Rolling 12-month sales: 6 (.5 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 9 months.
Sellout projection, based on the rolling 12-month pace of sales: 8 years.

There also currently 7 units listed for resale on Realtor.com.

Tucy · Post by **Tucy** » 15 Jul 2020 12:16

June 2020

Zero sold.

111 sold in 91 months. (1.22 per month) 3 remaining.
Rolling 12-month sales: 5 (.42 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 10 months.
Sellout projection, based on the rolling 12-month pace of sales: 8 years, 3 months.

There also currently 11 units listed for resale on Realtor.com.

TNWE · Post by **TNWE** » 16 Jul 2020 15:20

Tucy wrote:June 2020

Zero sold.

111 sold in 91 months. (1.22 per month) 3 remaining.
Rolling 12-month sales: 5 (.42 per month)

Sellout projection, based on the pace of sales thus far: 7 years, 10 months.
Sellout projection, based on the rolling 12-month pace of sales: 8 years, 3 months.

There also currently 11 units listed for resale on Realtor.com.

What's typical in the condo market as far as the breakdown of "never sold" units vs. units listed for resale? Obviously the developer wants to offload those last 3 units, but is a 10% vacancy (assuming most of the units for sale are vacant) unheard of for luxury condo towers of similar age?

rasec33 · Post by **rasec33** » 20 Jul 2020 17:12

Apparently they sold another unit recently! Website shows only 2 left!

https://www.museumtowerdallas.com/luxur ... ventory-2/