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markhollin

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6 hours ago, MLBrumby said:

This bodes well for the Ritz twins getting built.  I can't help but think the appeal here comes (in large part) from "high-wealth" people moving from higher cost of living locations.

I just don't think these are your run-of-the-mill STR units. 

I have to think a decent portion is wealthy suburbanites seeking true luxury places downtown, along with celebrities wanting a building that would protect some privacy. The prices and HOA fees in this building are very steep, so it will attract a buyer that has options and wants this particular spot. I’m sure the units are not allowed to be short term rented by the HOA master documents.

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