Saratoga condo market remains "red-hot"

[Suff]

At the moment, condos in the renovated 1903 elementary school at 77 Van Dam St. -- within a few furlongs of Broadway -- are being offered for mostly between $350,000 and $400,000, and new condos on Union Avenue near Congress Park, where the Skidmore College "Pink Palace" once towered, are in the same price range and have sold rapidly.



Varley is currently marketing a 34-unit four-story condo building on West Avenue, which will be ready for occupancy this summer, and where condos are selling for $500,000 to $600,000 -- far less than what condos closer to Broadway cost.

Many of the buyers continue to be out-of-towners interested in spending the summer racing season or other parts of the year in Saratoga Springs, Valentine acknowledged. Nearly all the condos have been built in the last 15 years, since the first five-story building was built on Railroad Place.



https://dailygazette.com/sites/default/files/styles/article_image/public/021320_SaratogaCondos_EM-11.jpg?itok=g73Y7SVu


https://dailygazette.com/article/2020/02/15/saratoga-springs-condos-keep-booming

[the little guy]

I hear the condos in the old school off Van Dam are problematic as they only have one bathroom. As for $500K to $600K to live on West Avenue....they better be nice:-)

I'll always miss the Pink Palace, aka Moore Hall.

[Clocker]

I hear the condos in the old school off Van Dam are problematic as they only have one bathroom.


If it was a school, shouldn't it have a boys room and a girls room? :p

[Suff]

Unless an HOA specifically bans airbnb, vrbo , etc, then ownership of destination real estate like a Saratoga is the new timeshare.

Some/most owners buy calculating some income.

With the college, & SPAC & the Casino's, and the overall year round appeal of Saratoga & Capital City there is demand at $100 a night year round. $400 in season.


From Miami , all along collins avenue, to fort lauderdale, pompano, hollywood, Dania Beach, straight up to Delray Beach, Palm Beach and beyond. If the HOA allows AIRBNB, ~50% of the real estate is Investor owned. And done right, its a very nice business.

[lamboguy]

Unless an HOA specifically bans airbnb, vrbo , etc, then ownership of destination real estate like a Saratoga is the new timeshare.

Some/most owners buy calculating some income.

With the college, & SPAC & the Casino's, and the overall year round appeal of Saratoga & Capital City there is demand at $100 a night year round. $400 in season.


From Miami , all along collins avenue, to fort lauderdale, pompano, hollywood, Dania Beach, straight up to Delray Beach, Palm Beach and beyond. If the HOA allows AIRBNB, ~50% of the real estate is Investor owned. And done right, its a very nice business.
boston and other cities are banning short term housing. this makes it tough to sign a mortgage being paid through short term stays that may not exist.

[thaskalos]

I hear the condos in the old school off Van Dam are problematic as they only have one bathroom.


More than one bathroom seems excessive, given that the majority of the horseplayers regularly "take a bath" at the nearby racetrack. :)

[the little guy]

Not one, but two not funny attempts at humor. This place is the gift that keeps on giving.

[Clocker]

Not one, but two not funny attempts at humor.


Really, and such an important and critical topic dealing with the issues that threaten our sport today.

God knows that half-million dollar condos are a primary concern of the average American horse player, not to be treated with irreverance. :rolleyes:

[Suff]

Really, and such an important and critical topic dealing with the issues that threaten our sport today.

God knows that half-million dollar condos are a primary concern of the average American horse player, not to be treated with irreverance. :rolleyes:

+ the children. Don't forget the children. The whole damn world is going to shit.

[the little guy]

I wasn't taking the topic seriously....but I do take humor seriously....and there are some horrendous attempts at it in this thread.

[jay68802]

:popcorn:

http://www.youtube.com/watch?v=Z7B2Tu6-G5E

[classhandicapper]

Not one, but two not funny attempts at humor. This place is the gift that keeps on giving.

How about this?

It's also true.

After living with a woman in an apartment with only 1 bathroom for many years, I occasionally joke that my next place has to have 3 bathrooms. 1 will be used as a backup just in case 1 is out of commission.

[tophatmert]

" What's the deal with airline food" can't be far behind

[thaskalos]

Rejection at this level could devastate me. :blush:

[the little guy]

Rejection at this level could devastate me. :blush:

I figured you would take it hard.

[thaskalos]

I figured you would take it hard.

What...you think you are the only one who takes humor seriously?

[Suff]

$179,000 1bd 2ba 925 sqft
401 Golden Isles Dr APT 201, Hallandale Beach, FL 33009


1BD/2BA. Bike ride to Gulfstream and Ocean.


https://i.ibb.co/crvzfbb/HALLANDALE.jpg (https://ibb.co/2k6XV88)

https://photos.zillowstatic.com/cc_ft_960/IS3z7kkt35oaez0000000000.webp


https://i.ibb.co/8YCG1Jz/IS7i1bp6xun7y61000000000.png (https://ibb.co/41qChcs)


https://www.zillow.com/homedetails/401-Golden-Isles-Dr-APT-201-Hallandale-Beach-FL-33009/43362820_zpid/

[classhandicapper]

Here's some info on the Condos on West Ave.

https://thewestsaratoga.com/


A friend of mine just bought a house in Saratoga. He's owns a business in Queens, but he's getting a head start on eventually spending a lot of time in Saratoga when he retires. He owns a few horses now and wants to get more active in ownership after he sells the business. I think he plans on spending half the year in Saratoga and half in Florida where he also owns a place.

I'd love to spend a lot of time in that area, but right now I still have responsibilities in Queens (elderly mother). It's too long of a drive to buy something to use as a weekend place and too much of an investment for a few weeks of racing. One thing for sure, it's not cheap up there.

[clicknow]

One thing for sure, it's not cheap up there.

Estimated per capita income in 2017: $53,353

Estimated median house or condo value in 2017: $364,333



sounds like the touristas will be taking over.

[Suff]

Saratoga Springs wants Airbnb, hotel guests to pay same taxes



Saratoga Springs wants Airbnb guests to start paying the same taxes hotel guests do.

Officials at the City Center say each guest who stays at an Airbnb does not pay the so-called Bed Tax.

That six-percent occupancy tax helps the Convention and Tourism Bureau and the City Center bring in more business.

Mayor Meg Kelly has also expressed concerns over safety, especially with increasing Airbnb attendance during busy tourist months.

The City Council will take up the issue Tuesday night.

[clicknow]

I can see how there would be some concern among locals about living in an "Air BnB" atmosphere where the owners are all absentee landlords, turning residential housing into de facto hotels, where renting units out by the week or month to a constantly changing faces of out-of towners. Esp. as they can get to partying.

And most of the year, those condos will be empty.

[burnsy]

I don’t know about year round appeal. There were 40 mph winds today snowing sideways. I do my best to get the hell out of here for at least two weeks a winter. The real estate has gone nuts in recent years..... but if you plan on living here 12 months a year it’s a rough 3 or 4 months for older folk. I go to Key West and they have a deal where the rentals have to be 30 days. I can see something similar happening here

[Suff]

I don’t know about year round appeal.

Year round was a stretch. I was thinking of when Dave Matthews played SPAC & that brought 1000's non race people who spent like wild injins at the hotels & bars. Skidmore etc.

[burnsy]

Year round was a stretch. I was thinking of when Dave Matthews played SPAC & that brought 1000's non race people who spent like wild injins at the hotels & bars. Skidmore etc.

Yeah the hotels will always be that way. That’s why some of these vacation towns institute a “ at least 30 day rental rule”. To avoid some of the problems you guys are talking about .