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Signature Tower

NewTowner

By NewTowner
in Nashville

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GRDadof3 Ecumenopolis

GRDadof3

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He wants to sell 200 to 400. Lender requirement is probably 50% pre sold before releasing the money

It's usually 50% of the square footage, not units, sold before the banks release funding. I worked for a company that provided consulting services to high rise developers, and it seemed to be the same all over the country (unless you had Amalgamated/Union financing).

Nice looking tower. Anyone here getting in on this?

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Richard Lawson Hamlet

Richard Lawson

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It's usually 50% of the square footage, not units, sold before the banks release funding. I worked for a company that provided consulting services to high rise developers, and it seemed to be the same all over the country (unless you had Amalgamated/Union financing).

Nice looking tower. Anyone here getting in on this?

In TG's deals they've been 50-60% of total value. So a $1 million units is like three cheaper ones.

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Richard Lawson Hamlet

Richard Lawson

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Well in that case, all he's gotta sell are a couple penthouses right? :rolleyes:

Yes and no... No good selling the penthouses if nothing else sells. Actually, he's holding off really selling those top ones until closer to completion of construction. Obviously, if a buyer is insistent, then it would be reserved and sold.

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Hankster Town

Hankster

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Yes and no... No good selling the penthouses if nothing else sells. Actually, he's holding off really selling those top ones until closer to completion of construction. Obviously, if a buyer is insistent, then it would be reserved and sold.

Richard, I hope you don't mind me asking and don't answer if you think this puts you on the spot, but what do think the odds are that Signature Tower gets built? I value your answer as an expert in the Nashville real estate market.

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Richard Lawson Hamlet

Richard Lawson

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Richard, I hope you don't mind me asking and don't answer if you think this puts you on the spot, but what do think the odds are that Signature Tower gets built? I value your answer as an expert in the Nashville real estate market.

I'd say they are better than 50-50. But I wouldn't want to say yes it will or no it won't. I'd almost give it a better shot of starting construction before West End Summit starts. You should see his sales staff., mesmerizing.

I'm going to check on the potential reservations coming out of appointments yesterday and today to see how that is going. A strong start would be a good sign. Of course, then you have to see when people put hard money down. There's always some fall out on reservations.

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gaushell Whistle-Stop

gaushell

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I'm going to check on the potential reservations coming out of appointments yesterday and today to see how that is going. A strong start would be a good sign. Of course, then you have to see when people put hard money down. There's always some fall out on reservations.

70 reserved as of 4pm when I spoke with Ted Kromer. We will them blocked out on the website in the morning .

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jice Burg

jice

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They were discussing Siggy this morning on one of the radio shows... Jerry House & gang. Talking about how people don't want lil ole' Nashville to become the next Atlanta... as many have talked about here on UP. Their main complaint was traffic congestion. I thought of calling in... to inform them this tower is mostly residential lol. But anyway... I think its kinda sad how many people here seem to want to hold Nashville back, for fear of all that comes along with being a 'big city'. Guess I understand though, somewhat...

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Onyte9 Whistle-Stop

Onyte9

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I dont think its no where near as many people trying to hold Nashville back as one would think. I do believe they are way more out spoken than the majority of us. It seems like the people that are always complaining about something are the ones always in the paper and on the news.

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Hankster Town

Hankster

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70 reserved as of 4pm when I spoke with Ted Kromer. We will them blocked out on the website in the morning .

I'd have to say thats a great start. As it was said earlier, there's always some fallout from the reservations, so it's not like he's sold 70 yet. Does anyone know what percentage of reservations typically sell? Anyway, I'm starting to get a very good feeling about this project going forward.

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Skyscrapergeek Burg

Skyscrapergeek

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70 reserved as of 4pm when I spoke with Ted Kromer. We will them blocked out on the website in the morning .

Thank you gaushell, you are an invaluable source of info for this forum not to mention the service you provide through your business. Love your work. This is definitely positive news!

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Lexy Town

Lexy

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Thank you gaushell, you are an invaluable source of info for this forum not to mention the service you provide through your business. Love your work. This is definitely positive news!

Yes, thank you Gaushell.

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NewTowner Hamlet

NewTowner

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Interesting that a skyscraper would make us like Atlanta. I thought it was that vast sprawl we were trying to avoid like Atlanta.

Ha ha, that's funny and so true ha ha ha...

Atlanta's sprawl is suicidal, ha ha...well...that part isn't very funny...

But Lawson's pointing out of the obvious is! Ha ha ha...

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gaushell Whistle-Stop

gaushell

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I counted 86 reserved as of 2pm this afternoon. This includes the two townhomes that are reserved in the new townhome section of the floorplan section.

Has not been updated online since yesterday morning (thursday) at 8:45am.

Hoping for a report on over 100 before the end of the day. Will let you know as soon as we have them posted too.

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