May 14, 20196 yr 3 hours ago, w28th said: From what I understand 85% occupancy is the base line that banks use when doing a proforma for financing a building. Seems right on par. So when people say something "seems" high based on nonexistent knowledge it's best to disregard it. If we can't bitch about something that we know only superficially, then what's the point of UrbanOhio?
May 14, 20196 yr 3 hours ago, w28th said: From what I understand 85% occupancy is the base line that banks use when doing a proforma for financing a building. Seems right on par. So when people say something "seems" high based on nonexistent knowledge it's best to disregard it. Lenders and investors tend to use a one year lease up when analyzing projections. This building is right on track especially considering the aggressive rental rates.
May 15, 20196 yr 5 hours ago, bjk said: If we can't bitch about something that we know only superficially, then what's the point of UrbanOhio? Normally I would agree but it seems the newspaper of record uses this site as a content generator at times, I’m sure KJP would concur.
May 15, 20196 yr 23 hours ago, Htsguy said: Are you guys seriously bitching about a 17% vacancy rate in a huge luxury building that has not even been open for a year yet? I thought national vacancy rates were closer to 5- 6% and I know this is a large, new ultraluxury property so I was just curious about how it is progressing and if the vacancy level was in any way a concern -I know it’s only about a year -and I wasn’t complaining , just asking. I appreciate the chance to ask a question here in this forum and especially, to get an informative response. Thanks to freefourur, who explained that the building is “right on track considering aggressive rental rates”. I’m glad to hear it!
August 15, 20213 yr I was on the One University Circle website today and the best I can tell there is only one unit currently available. A 2 bedroom on the 8th floor. Since it has been open for a while now, expired leases must be renting immediately upon vacation, suggesting a significant waiting list. I wonder if a Phase 2 is being considered now that 121 Larchmere is wrapping up.
August 16, 20213 yr 1 hour ago, Htsguy said: I was on the One University Circle website today and the best I can tell there is only one unit currently available. A 2 bedroom on the 8th floor. Since it has been open for a while now, expired leases must be renting immediately upon vacation, suggesting a significant waiting list. I wonder if a Phase 2 is being considered now that 121 Larchmere is wrapping up. I think those were my friends that just moved out of the 2 bedroom on 8! :)
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