In the lawsuit filed Monday in Broward Circuit Court, John Taglieri also contends the developer of the project violated state securities and condo laws.

SB Hotel Associates LLC failed to register Taglieri’s unit at the beachfront Trump International Hotel & Tower as a security, though it was marketed as an investment opportunity, and wrongly promoted the project as a Trump development, according to the lawsuit.

The lawsuit claims marketing material indicated the units would be worth 36 percent more with the Trump name.

Trump is not the developer and does not have any agreement to indicate the project will operate under the Trump name when it is completed, according to the suit.

Taglieri put down $146,000 in December 2005 for a $730,000 unit in the 298-unit tower under construction at 551 N. Fort Lauderdale Beach Blvd. (A1A). He was told the 24-story development would be complete in 2007.

“The impetus for the lawsuit is frustration with purchasing a product he thought he was getting that was heavily promoted in a certain way by the developer and realizing that’s not the project that will be delivered,” said Taglieri’s attorney, Jared Beck of Beck & Lee in Miami.

“In this market, misrepresentation and failure to deliver what’s promised are things a developer cannot afford to get away with,” he said.  Continued…

Source: Law.com

More Blogs on:  Condo-Hotel | Trump

An announcement for ManhattanWest, a condo project in Vegas, is marketing hers and his units.The development offers “amenities crafted for specific male and female demographics, while also offering a ‘mix and match’ option for those wanting to enjoy the best of both worlds,” according to the announcement. For women there are the Diva units and for men, the “M-Series.”

The manly M-Series units feature a set of ” ‘guy-friendly’ upgrades designed for guys by guys,” including a ceiling-mounted HDTV projector that can deliver an 8-foot to 10-foot picture (tuned to the Spike network, presumably?), a “built-in, stocked wet bar” (24-pack of Pabst Blue Ribbons included?), a surround-sound speaker system, and a pair of half-sized dishwashers (but men don’t wash dishes, right?). Continued…

Source: Inman News Blog

THE NEW LUXURY LOFT: BOSTON FOLLOWING NY

High-end luxury lofts may be old news in New York’s Soho, where the starving artists who pioneered the area have become as rare a sight as affordable restaurants, but in Boston, the loft market had remained at a more entry level price point…until now.

Several new projects are breaking boundaries in downtown Boston for high-end loft living. Chief among them is the 54-unit former Virgin Records Building at 360 Newbury, designed by renowned architect Frank O. Gehry, developed by Boston Residential Group and marketed by Otis and Ahearn, Boston’s premier residential brokerage and marketing company. With high-style, luxury finish units selling for between $650,000 to over $2 million, the project is pushing the loft market into a whole new arena.

“The loft concept started in Boston as a fairly modest build-out, offered at inexpensive prices and in pioneering locations,” says Otis & Ahearn president Kevin Ahearn. “Today, it has expanded dramatically into very expensive housing as it should. We are marketing another project downtown — Lafayette Lofts, at the corner of Kingston and Essex — with a price range starting at $500,000 up to $1.5 million and there are more coming including in Midtown / Downtown Crossing. The whole loft market has picked up a lot of steam by going to a higher price point and a higher finish” broadening buyer profiles.

CONDOMINIUM SALES SURGE IN EMERGING URBAN MARKETS

As high-end condo sales push the $1M+ mark in Boston, a large segment of the condo-buying market has found itself priced out of the downtown area.

But that doesn’t mean those buyers aren’t purchasing condos. They are simply moving into new urban emerging markets in the immediate environs, such as Chelsea, East Boston, Watertown, Jamaica Plain, Medford and more.

“These new urban markets are really a trend worth watching,” says Kevin Ahearn, president of the Boston-area brokerage and marketing firm, Otis & Ahearn. “Our data shows that even as the peak market downtown has slowed down a bit, these new markets have surged ahead in sales, particularly in the sub $500,000 price point.”

New urban areas are often on T lines, with good access to downtown with amenities and services. The neighborhoods are already dense, with existing multi-family homes, and new condo developments fit easily into the urban fabric.

“These areas are great for people who want to get out of the primary home, into one-level living, but don’t want to move away from family, friends or grown kids,” says Ahearn. “The young professionals, empty nesters and divorced middle-aged people—all big factors in the condo market—are turning to these areas as affordable alternatives.”

HYBRID HOTEL/RESIDENTIAL PROJECTS ARE THE FUTURE OF LUXURY LIVING

A spacious loft with high-end finishes, sweeping views…and a full service restaurant, spa and maid service? Sounds like a sybarite’s dream, but it’s fast becoming reality, due to the dramatic expansion of hotel flagships into mixed-use hotel and residential properties.

Heretofore the downtown Boston market between 1980 and up to 2000 had only 2 combination residential and hotel flag properties – old Ritz (Carlton House) and the Four Seasons. Since 2000 the additional hotel flags that have arrived, are under construction or looking in the market include a 2nd Ritz, InterContinental, Mandarin, Regent and multiple brands / flags of Starwood including a W Boston and possibly a St. Regis.

It’s only a matter of time when more arrive as part of mixed use developments and it’s very exciting for Boston.

“The Four Seasons and the Ritz, the Fairmount hotels—they’re all ramping up their efforts in this area,” says Kevin Ahearn, president of Boston-area brokerage and marketing firm, Otis & Ahearn. “On the business end, it’s a win-win situation. The hotel is in the base of the building, which has less view, and thus less value for residential. The residential portion is above, which gives the hotel a built-in market for its services.”

And for the buyers, Ahearn says, it’s the services that win them over. “The fabulous spas and exercise facilities; the great restaurants and celebrity chef kind of appeal; the maid service and custodial amenities…that’s hard to beat.”

For affluent purchasers who travel frequently and may have second and third homes, there is also the appeal of the “lock-and-leave” security that such projects offer. “Prosperous retirees may spend time in Florida, and just want a nice place with no upkeep to land during the holidays, to see kids, etc.,” says Ahearn. “ And for empty nesters, coming in from the suburbs and still working, these places give great access to downtown and the workplace, and services that make their lives easier.”

TWICE THE SHOWER AND HOLD THE TUB

Large soaking tubs are no longer the height of luxury, if current trends in condo interiors hold true. Instead, more and more buyers are requesting oversize showers with multiple heads, glass enclosures, benches and more—and eliminating the tub altogether especially in the 1 & 2BR units.

“It seems to come from the hotel influence,” says Kevin Ahearn, president of Boston-area brokerage and marketing firm, Otis & Ahearn. “Many of the luxury hotels have dropped the tub in favor of these large shower enclosures that open right onto the sleeping area, showers with all the spa-like bells and whistles. We find that’s what condo buyers are asking for.”

Another trend? Like the tub, enclosed kitchens seem to be a thing of the past. “Absolutely everyone, except buyers of the largest units, want the big open kitchen, dropped right into one end of the living area, with very high-end finishes. The kitchens are so high quality, they have more of a dining room look,” says Ahearn. “People have moved definitively away from the small, separate kitchen. They want entertaining Kitchen where there is interaction with the living space and with other people and high end appliances, even when they don’t cook.”

PERSONALITY OVER PARKING

Downtown loft and condo conversions are almost always full of character, abounding in unique spaces and architectural detail. One thing they may lack, however, is parking. Yet while it was once considered obligatory to include parking in any condo development, more and more buyers seem willing to trade car convenience for character and fabulous building locations in the middle of everything.

“Most loft deals in urban locations were once offices or warehouses, and the vast majority have very little parking, if any,” says Kevin Ahearn, president of Boston-area brokerage and marketing firm, Otis & Ahearn. “But we are finding that today, people are willing to compromise in that area. They want the beams and columns and big windows and unique qualities of interesting conversions — for this type of buyer the offsetting feature(s) diminishes the parking feature requirement within other segments of the market.”

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Question: What comes first the building or the crane?

Source: by way of Sellsius

All Condo / Hotel studios are $290,000 ($330,000 after November 1st) no matter where located in the building and they are all approximately 540 sq. ft. The revenues generated through the Hotel will be pooled so that each owner receives the same percentage of income, whether their unit has been rented or not. All hotel suites are fully furnished and accessorized at the Trump level of quality.

All condominium residences are FINISHED but not furnished. Finished means central air conditioned; full appliance package with washer and dryer; marble flooring throughout; granite kitchen countertops with full backsplash; European kitchens cabinets, frameless shower enclosures, designer fixtures, and the level of quality you would expect in a TRUMP property. Download Brochure

PRICE RANGE FOR CONDOMINIUMS ARE:
ONE BEDROOM: $425,000 ( 1085 sq. ft approx.)
TWO BEDROOMS: $625,000 ( 1630 sq. ft approx.)
THREE BEDROOMS: $750,000 ( 2130 sq. ft. approx.)
THREE BEDROOM COMBO: $1.4M ( 3300 sq. ft. approx.)
FOUR BEDROOM COMBO $1.8M ( 4380 sq. ft. approx.)

SPECIAL UNITS AVAILABLE FOR A LIMITIED TIME AT OPENING PRICES:
2603 - 2 BR - 1642 SF - $568,000
3306 - 2 BR - 1642 SF - $569,000
2804 - 2 BR - 1642 SF - $571,000
3403 - 2 BR - 1642 SF - $581,000
4405 - 2 BR - 1642 SF - $587,000

Source: Jimmy Nevius, Las Vegas High Rise Projects

These days, we call that a gated community.

Of course, today’s gated developments lack portcullises and moats (usually). Unlike their chilly predecessors, they are as much about privacy and exclusivity as safety. And gated communities are far more common than residential fortresses ever were.

Although recent figures are hard to come by, in 2001 more than 7 million Americans were living in homes located behind barricades, according to the U.S. Census, and industry experts say more and more developers are installing gates around their properties. In areas such as Las Vegas, it’s difficult to find a new home that is outside such a development, and gated communities are popping up in China, France and Argentina. Realtors familiar with these neighborhoods stateside say the numbers are growing as homeowners seek to raise their families in environments that feel safer, are clean and well-kept and offer recreational amenities.  Continued…
Source:  Forbes

Condo-hotels, in which investors buy individual hotel rooms to use as a residential condo, and then allow the hotel operator to rent out the room when they are away, have been less than successful in the past. In fact, Falor’s other condo-hotel, the Aldens at 202 S. State St., went under last year. Continued…

Source: Chicagoist

Source:  Luxist Blog