Four Seasons Hotel and Residences, 40 stories, 542', $400 million

[henburg]

It feels like the Swerdling KVB project would serve as a good spot for a potential Ritz Carlton too, but I like the idea of a high-quality luxury building along the roundabout. 

Edited June 23, 2020 by henburg

[nashvylle]

11 hours ago, MLBrumby said:

From the online NBJ today:  https://www.bizjournals.com/nashville/news/2020/06/23/four-seasons-nashville-condo-sales-aecom-downtown.html

In an announcement made first to the Business Journal, the Four Seasons development team revealed that buyers have signed contracts worth almost $80 million combined, snagging all of the units initially made available for purchase. The contract prices range from $800,000 to $5 million.

Are we so sure it's not just Kristin Cavallari didn't just put $80MM down as part of her dispute with Jay Cutler? JK

[Hey_Hey]

It’s also interesting when looking at the rate of sales for the Four Seasons versus 505. Height-wise they are very similar, but the Stay Alfred deal in 505 may have doomed the condos from a quick sellout perspective.  The takeaway may be to go more high end for these condos, which is somewhat unfortunate. However, that may be the economic reality. 

[DDIG]

1 hour ago, Hey_Hey said:

It’s also interesting when looking at the rate of sales for the Four Seasons versus 505. Height-wise they are very similar, but the Stay Alfred deal in 505 may have doomed the condos from a quick sellout perspective.  The takeaway may be to go more high end for these condos, which is somewhat unfortunate. However, that may be the economic reality. 

You are probably on to something. I'm no expert on fine living but some of the complaints I heard from people about 505 were that the finishes were not quite up-to-snuff for the price. So truly discerning luxury buyers weren't crazy about that. And you are right, sharing with Airbnb probably didn't help. Last I looked at the website there we still a fair amount of for sale inventory left. I also imagine in Nashville, with some industries like music that have a fair amount of Ego, saying, "I live at the Four Seasons" will play really well - so that's an edge.

Edited June 24, 2020 by DDIG

[downtownresident]

23 minutes ago, DDIG said:

You are probably on to something. I'm no expert on fine living but some of the complaints I heard from people about 505 were that the finishes were not quite up-to-snuff for the price. So truly discerning luxury buyers weren't crazy about that. And you are right, sharing with Airbnb probably didn't help. Last I looked at the website there we still a fair amount of for sale inventory left. I also imagine in Nashville, with some industries like music that have a fair amount of Ego, saying, "I live at the Four Seasons" will play really well - so that's an edge.

We toured it when it first opened, and weren’t thrilled with the finishes or layouts. The doors especially felt cheap for the price they were asking. Sharing a garage with public parking, and amenities with apartments/short term rentals were two more strikes, especially the short term rentals. Most other condo buildings downtown ban short term rentals for a reason. 

[DDIG]

12 hours ago, downtownresident said:

We toured it when it first opened, and weren’t thrilled with the finishes or layouts. The doors especially felt cheap for the price they were asking. Sharing a garage with public parking, and amenities with apartments/short term rentals were two more strikes, especially the short term rentals. Most other condo buildings downtown ban short term rentals for a reason. 

So which layout did you go with at the Four Seasons?  

[downtownresident]

35 minutes ago, DDIG said:

So which layout did you go with at the Four Seasons?  

LOL I wish. We are quite happy in our condo near by. 

[OnePointEast]

3 hours ago, downtownresident said:

LOL I wish. We are quite happy in our condo near by. 

You must have an amazing income, to live in downtown. 

[sqw475]

On 6/23/2020 at 8:02 PM, downtownresident said:

We toured it when it first opened, and weren’t thrilled with the finishes or layouts. The doors especially felt cheap for the price they were asking. Sharing a garage with public parking, and amenities with apartments/short term rentals were two more strikes, especially the short term rentals. Most other condo buildings downtown ban short term rentals for a reason. 

I enjoyed quite a few cups of complimentary coffee in the lounge, until the point when staff members were giving me the look.

[markhollin]

Up to 8th floor on south end, 7th level on north end.

Looking NE from intersection of Demonbreun and 2nd Ave. South:

Looking NW from intersection of 1st Ave. South and Demonbreun:

Looking west from 1st Ave. South at Seigenthaler Pedestrian Bridge:

Looking SW from 1st Ave. South at Seigenthaler Pedestrian Bridge:

[markhollin]

Courtesy of REI Concrete:

 

[downtownresident]

From Demonbreun, starting to peak out over the Pinnacle parking garage: 

From the pedestrian bridge, I imagine we’ll see the crane jump soon: 

[PaulChinetti]

4 Seasons today. 

[Sean blackdog]

41 minutes ago, PaulChinetti said:

4 Seasons today. 

South tower crane still wait to jump going up. 

[FranklinTn]

2 hours ago, PaulChinetti said:

4 Seasons today. 

My personal favorite project right now. The height is obviously a factor, but it’s adding great density, and adding to my favorite view of the skyline (heading south at the 24/65 merger). Can’t wait for this one to finish.

[markhollin]

Up to the 9th floor on the south end, 8th floor on north end.

Looking NE from intersection of Demonbreun and 2nd Ave. South:

Looking NW from intersection of 1st Ave. South and Demonbreun:

Looking SE from Seigenthaler Pedestrian Bridge where it crosses over 2nd Ave. South:

Looking east from Seigenthaler Pedestrian Bridge where it crosses over 2nd Ave. South:




Looking south from Seigenthaler Pedestrian Bridge, 1/2 block east of 2nd Ave. South:

Looking SW at bridge connector from Seigenthaler Pedestrian Bridge, 1/4 block west of 1st Ave. South:

Looking SW from Seigenthaler Pedestrian Bridge, 1/4 block east of 1st Ave. South:




Looking south from Seigenthaler Pedestrian Bridge, where it crosses over 1st Ave. South:




Looking west from Seigenthaler Pedestrian Bridge:

Looking east from intersection of Demonbreun and 6th Ave. South:

[Sean blackdog]

Today this evening. South tower crane jumped going up. 

[Sean blackdog]

Which floor for $80 million? 

[DDIG]

2 hours ago, Sean blackdog said:

Which floor for $80 million? 

Well they said the Grand Penthouse can be yours for $25 million (core and shell, whatever you got left you can spend to build it out!).

[MLBrumby]

Anyone good at numbers?  So would buying the penthouse for about that amount... finishing it out at (let's say) another $3M.... so being IN for $28M... and then putting it up for STR: how could anyone make those numbers work for them? 

[Sean blackdog]

20 minutes ago, DDIG said:

Well they said the Grand Penthouse can be yours for $25 million (core and shell, whatever you got left you can spend to build it out!).

I wish to live up there. 

 

[nashvylle]

1 hour ago, MLBrumby said:

Anyone good at numbers?  So would buying the penthouse for about that amount... finishing it out at (let's say) another $3M.... so being IN for $28M... and then putting it up for STR: how could anyone make those numbers work for them? 

Rent it out for $35k each weekend to make a 6% annual return. 

[MLBrumby]

I always knew I hung out in the 'wrong' circles. 

[DDIG]

2 hours ago, MLBrumby said:

Anyone good at numbers?  So would buying the penthouse for about that amount... finishing it out at (let's say) another $3M.... so being IN for $28M... and then putting it up for STR: how could anyone make those numbers work for them? 

Three million to build out like 10,000 SF? I'm thinking more like another $10. When you have $25 mil you aren't going budget on the finishes.

Edited July 14, 2020 by DDIG

[MLBrumby]

LOL... I don't know what it takes to build out anything on that level. We bought our suburban house nine years ago for just under $500K... and I'll admit the finishes aren't what I expected even at that price point. But very glad it will be paid off in 5 years! Needless to say, I'm not looking at the penthouse at Four Seasons.