Dallas Arts District: Hall Arts Hotel & Residences

Tucy · Post by **Tucy** » 05 Feb 2021 21:42

January 2021

0 units sold. 11 sold in 7 months (1.57 per month) 38 remaining

Sellout projection: 2 years, 8 months.

Post by **Tnexster** » 07 Feb 2021 11:23

Interesting that we are getting all of these so called condo people from the coast and they still have zero sale months. One would think they would get snapped up more quickly unless maybe those condo folk come here and don't buy condos.

eburress · Post by **eburress** » 07 Feb 2021 12:12

Anecdotally, part of the appeal of moving here from NY, CA, etc is that you don't have to continue to be a condo person. It's out of necessity that New Yorkers cram their existences into 900sf apartments.

Tivo_Kenevil · Post by **Tivo_Kenevil** » 07 Feb 2021 16:50

Tnexster wrote:Interesting that we are getting all of these so called condo people from the coast and they still have zero sale months. One would think they would get snapped up more quickly unless maybe those condo folk come here and don't buy condos.

How many "Coasters" you know own million dollar condos? Most people that move here come because they can't afford the high prices there. So they're not really the people who would be looking at these.

Tucy · Post by **Tucy** » 04 Mar 2021 16:40

February 2021

0 units sold. 11 sold in 8 months (1.375 per month) 38 remaining

Sellout projection: 3 years.

Tucy · Post by **Tucy** » 05 Apr 2021 10:51

March 2021

0 units sold. 11 sold in 9 months (1.222 per month) 38 remaining

Sellout projection: 3 years, 5 months.

jetnd87 · Post by **jetnd87** » 05 Apr 2021 14:07

So not a single unit sold in Q1'21. Anyone knowledgeable know if the sales team was expecting this pace?

Post by **undefinedprocess** » 05 Apr 2021 15:02

jetnd87 wrote:So not a single unit sold in Q1'21. Anyone knowledgeable know if the sales team was expecting this pace?

Actually toured the property a couple of weeks ago. To put it in a nutshell, they're not surprised, but weren't totally expecting it.

With units starting at $2M, not surprising. Also, one person on the sales team was a part of the Museum Tower's sales team, so now that it's completely sold out, HALL Arts is one of the only options. I expect there to be more interest as we head later into the year, but who knows.

Tucy · Post by **Tucy** » 17 May 2021 10:51

April 2021

2 units sold. 13 sold in 10 months (1.3 per month) 36 remaining

Sellout projection: 3 years, 2 months

Tucy · Post by **Tucy** » 21 Jul 2021 15:54

May 2021

Zero units sold. 13 sold in 11 months (1.18 per month) 36 remaining

Sellout projection: 3 years, 6 months

Tucy · Post by **Tucy** » 21 Jul 2021 15:55

June 2021

Zero units sold. 13 sold in 12 months (1.08 per month) 36 remaining

Sellout projection: 3 years, 10 months

Tucy · Post by **Tucy** » 11 Aug 2021 11:49

July 2021

Two units sold. 15 sold in 13 months. (1.15 per month). 34 remaining.

Sellout projection: 3 years, 7 months.

Tucy · Post by **Tucy** » 06 Oct 2021 14:06

August 2021

1 unit sold. 16 sold in 14 months. (1.14 per month). 33 remaining.

Sellout projection: 3 years, 7 months.

Tucy · Post by **Tucy** » 06 Oct 2021 14:07

September 2021

1 unit sold. 17 sold in 15 months. (1.13 per month) 32 remaining.

Sellout projection: 3 years, 8 months.

Tucy · Post by **Tucy** » 02 Jan 2022 13:39

October 2021

1 unit sold. 18 sold in 16 months. (1.125 per month) 31 remaining.

Sellout projection: 3 years, 8 months

Tucy · Post by **Tucy** » 02 Jan 2022 13:42

November, 2021

2 units sold. 20 sold in 17 months. (1.176 per month) 29 remaining.

Sellout projection: 3 years, 6 months

Tucy · Post by **Tucy** » 06 Jan 2022 16:24

December, 2021

2 units sold. 22 sold in 18 months. (1.22 per month) 27 remaining.

Sellout projection: 3 years, 5 months

Tucy · Post by **Tucy** » 22 Mar 2022 17:01

January, 2022

1 unit sold. 23 sold in 19 months. (1.21 per month) 26 remaining.

Sellout projection: 3 years, 5 months.

Tucy · Post by **Tucy** » 22 Mar 2022 17:02

February, 2022

0 units sold. 23 sold in 20 months. (1.15 per month) 26 remaining.

Sellout projection: 3 years, 7 months.

Tucy · Post by **Tucy** » 07 Apr 2022 14:49

March, 2022

1 unit sold. 24 sold in 21 months. (1.14 per month) 25 remaining.

Sell-out projection: 3 yeas, 7 months.

Tucy · Post by **Tucy** » 20 Jun 2022 10:08

April, 2022

1 unit sold. 25 sold in 22 months. (1.14 per month) 24 remaining.

Sell-out projection: 3 years, 8 months.

Tucy · Post by **Tucy** » 20 Jun 2022 10:10

May, 2022

1 unit sold. 26 sold in 23 months. (1.13 per month) 23 remaining.

Sell-out projection: 3 years, 8 months.

Tucy · Post by **Tucy** » 13 Jul 2022 10:13

June, 2022

1 unit sold. 27 sold in 24 months. (1.125 per month) 22 remaining.

Sell-out projection: 3 years, 8 months.

Tucy · Post by **Tucy** » 21 Aug 2022 12:18

July, 2022

Zero units sold. 27 sold in 25 months. (1.08 per month) 22 remaining.

Sell-out projection: 3 years, 10 months.

rono3849 · Post by **rono3849** » 21 Aug 2022 14:42

I don't know how this rates in terms of selling condos, but would this warrant a slow down in people wanting to buy into high-rise condo towers in Downtown Dallas?

Tucy · Post by **Tucy** » 22 Aug 2022 09:21

rono3849 wrote:I don't know how this rates in terms of selling condos, but would this warrant a slow down in people wanting to buy into high-rise condo towers in Downtown Dallas?

Goodness, it's hard to be much slower than it already was/is.

flyswatter · Post by **flyswatter** » 22 Aug 2022 10:43

Wonder if people in the suburbs who like to come into the city for performances are buying units to have as a crash pad? Attached to a hotel so it has tons of amenities. The sales started really fast and kind of plateaued

Granted it is a much smaller tower than Blue Ceil so it's tough to really compare the two but it's a much better location without 12 lanes of Harry Hines/DNT around you.

Cbdallas · Post by **Cbdallas** » 22 Aug 2022 11:13

I wish Dallas was more of an urban condo tower type of city but it just isn't so much. People still want their land with Olympic swimming pools and tennis courts up north. Oh well some progress has been made over the last 30 years but not near enough.

rono3849 · Post by **rono3849** » 22 Aug 2022 12:33

Cbdallas wrote:I wish Dallas was more of an urban condo tower type of city but it just isn't so much. People still want their land with Olympic swimming pools and tennis courts up north. Oh well some progress has been made over the last 30 years but not near enough.

That is true. This is one of the big differences between Dallas & Houston, which is littered with high rise condo towers. I think Houston was a magnate for more international money due to the energy industry. These people come from places where multi-residential living is commonplace.

R1070 · Post by **R1070** » 22 Aug 2022 12:44

Dallas needs to diversify it's urban condo offerings. They all start at ridiculously high price points. People have no problem renting in high rises. That shows that we need more inventory that's not ultra-luxury.

kingkong34 · Post by **kingkong34** » 22 Aug 2022 14:17

R1070 wrote:Dallas needs to diversify it's urban condo offerings. They all start at ridiculously high price points. People have no problem renting in high rises. That shows that we need more inventory that's not ultra-luxury.

Bingo!

Tucy · Post by **Tucy** » 22 Aug 2022 16:55

R1070 wrote:Dallas needs to diversify it's urban condo offerings. They all start at ridiculously high price points. People have no problem renting in high rises. That shows that we need more inventory that's not ultra-luxury.

There are a good number of condos in urban Dallas that are not at ridiculously high prices. Fewer of the high-rise variety to be sure. But are the high-rise offerings in other cities really at a significantly lower price point than Dallas's?

In Zip Code 75201, there are currently 36 condos for sale on Realtor.com. 9 of them are under $600,000. 3 are under $300,000.

In Zip Code 75202, there are 17 condos for sale. 16 of them are under $600,000. 9 are under $300,000.

Tucy · Post by **Tucy** » 16 Oct 2022 16:23

Augusr, 2022

Zero units sold. 27 sold in 26 months. (1.04 per month) 22 remaining.

Sell-out projection: 4 years.

Tucy · Post by **Tucy** » 16 Oct 2022 16:24

September , 2022

Zero units sold. 27 sold in 27 months. (1 per month) 22 remaining.

Sell-out projection: 4 years, 1 month

(They’ve sold 4 in cy 2022.)

Post by **Tnexster** » 18 Oct 2022 15:44

So it looks like they were sort of humming along at one unit per month and then it all died. Is this market segment rate sensitive? I would tend to think not, more inclined to think Condos just don't work well in Dallas.

Tucy · Post by **Tucy** » 14 Nov 2022 09:25

October 2022

Zero units sold. 27 sold in 28 months. (0.96 per month) 22 remaining.

Sell-out projection: 4 years, 3 months

(They’ve sold 4 in cy 2022; Most recent sale was in June)

Tucy · Post by **Tucy** » 02 Jan 2023 12:28

November 2022

One unit sold. 28 sold in 29 months. (0.97 per month) 21 remaining.

Sell-out projection: 4 years, 3 months

(They’ve sold 5 in cy 2022; This was the first sale since June)

Tucy · Post by **Tucy** » 13 Jan 2023 17:11

December 2022

Zero units sold. 28 sold in 30 months. (0.93 per month) 21 remaining.

Sell-out projection: 4 years, 5 months

They sold 5 in cy 2022 (0.42 per month)

rono3849 · Post by **rono3849** » 14 Jan 2023 17:12

I wonder if Hall will build that third building across Ross Avenue where he owns land that's a parking lot? I know there was talk of a multi-use tower at one time, but Portman Holdings may beat Hall with their first tower out of the ground on that side of Ross Avenue.

Tucy · Post by **Tucy** » 05 Feb 2023 16:20

January 2023

Zero units sold. 28 sold in 31 months. (0.90 per month) 21 remaining.

Sell-out projection: 4 years, 7 months

They sold 5 in cy 2022 (0.42 per month)

Tucy · Post by **Tucy** » 23 Mar 2023 13:20

February 2023

One unit sold. 29 sold in 32 months. (0.91 per month) 20 remaining.

Sell-out projection: 4 years, 7 months

More realistic: They have sold 6 in the past 14 months (0.43 per month). At that pace, the sell-out projection is 6 years, 7 months.

Tucy · Post by **Tucy** » 17 Apr 2023 09:00

March 2023

Zero sold. 29 sold in 33 months. (0.88 per month) 20 remaining.

Sell-out projection: 4 years, 8 months

More realistic: They have sold 6 in the past 15 months (0.4 per month). At that pace, the sell-out projection is 6 years, 11 months.

Dallas_Uptown · Post by **Dallas_Uptown** » 18 Apr 2023 16:06

Tucy wrote:March 2023

Zero sold. 29 sold in 33 months. (0.88 per month) 20 remaining.

Sell-out projection: 4 years, 8 months

More realistic: They have sold 6 in the past 15 months (0.4 per month). At that pace, the sell-out projection is 6 years, 11 months.

Strange. This building and location are far superior to Bleu Ciel.

Tucy · Post by **Tucy** » 23 May 2023 11:54

April 2023

Zero sold. 29 sold in 34 months. (0.85 per month) 20 remaining.

Sell-out projection: 4 years, 10 months

More realistic: They have sold 6 in the past 16 months (0.375 per month). At that pace, the sell-out projection is 7 years, 4 months.

Post by **tamtagon** » 23 May 2023 13:26

How much are these ones? $2-5 million?

Tucy · Post by **Tucy** » 19 Jun 2023 12:46

May 2023

One sold. 30 sold in 35 months. (0.86 per month) 19 remaining.

Sell-out projection: 4 years, 10 months

More realistic: They have sold 7 in the past 17 months (0.42 per month). At that pace, the sell-out projection is 7 years, 10 months.

Tucy · Post by **Tucy** » 07 Jul 2023 13:54

June 2023

Zero sold. 30 sold in 36 months. (0.83 per month) 19 remaining.

Sell-out projection: 4 years, 11 months

More realistic: They have sold 7 in the past 18 months (0.39 per month). At that pace, the sell-out projection is 7 years, 1 month.

Tucy · Post by **Tucy** » 31 Aug 2023 10:36

July 2023

One sold. 31 sold in 37 months. (0.838 per month) 18 remaining.

Sell-out projection: 4 years, 11 months

They have sold 2 so far this calendar year (0.0.286 per month). At that pace, the sell-out projection is 8 years, 4 months.

Post by **tamtagon** » 31 Aug 2023 21:19

How much are these?

Tucy, why do you think they sell so slowly?

Tucy · Post by **Tucy** » 19 Sep 2023 14:22

August 2023

Two sold. 33 sold in 38 months. (0.868 per month) 16 remaining.

Sell-out projection: 4 years, 9 months

They have sold 4 so far this calendar year (0.5 per month). At that pace, the sell-out projection is 5 years, 10 months.