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Condos for Sale
Intrigued by the low asking price on this one-bedroom condo just inside the West Loop — but curious what sorts of interesting things might be lurking, say, under the refrigerator? Crawl on in and have a look around with us:
That was fast: Yesterday, just a day before Valentine’s Day — and almost exactly 2 weeks after a seemingly candid photo of one of the home’s 2 full bathrooms gained attention all over the internet — the owner of this well-appointed condo in Crescent Park Village accepted a purchase offer. Congratulations! On January 30th, a photo that just happened to include what looked like a 9- or 10-inch uh, stress reliever mounted on the back of the toilet was taken down quickly — followed, in short order, by the entire listing. Really? Some sellers would do anything for that kind of attention. Well, maybe a different kind of attention. But with a new MLS number, the offending photo removed, and a sub-$70K asking price, this home still got noticed. Of course, we’re all hoping the buyer’s likely-to-be-very-careful home inspection won’t turn up any additional surprises.
For any of you who might have missed it the first time, Swamplot’s uncensored photo home tour from the original listing is reprised here:
“Can’t wait to find a buyer for this condo!” writes real-estate agent Veso Kossev. “Too bad I can’t take [anyone] to see it…..” Huh? Oh, yeah . . . it’s unit E5 at the Park Memorial Condominiums, otherwise known as the 4.85-acre land of limbo just north of Memorial Dr. at Detering. As of a few days ago, you can pick up this 2-bedroom, 2-bath, only partially smashed condo for the low, low price of just $47,000. But you won’t be able to have it inspected — or see it yourself — because the entire complex has been condemned by the city. Where’d these lovely interior photos in the listing come from, then?
COMMENT OF THE DAY: AN UPDATE FOR POTENTIAL CONDO INVESTORS AT PINE VILLAGE NORTH 
“the HOA has financial and legal problems. it’s operating month-2-month; no reserves. even though our assessments are supposed to cover exterior repairs of our units, you may never get your units repaired, unless you do it yourself. many of the units have serious plumbing problems. if the HOA is dissolved, PV may become a free-for-all; it’s almost that now. if you’re willing to risk all of that, then go ahead and buy, otherwise, don’t.” [Marina Sugg, commenting on Pine Village North Open House Welcome] Photo of Pine Village North: HAR
That’s no flood — just a meandering pattern on the terrace of this two-ish bedroom condo in Il Palazzo on Calumet. This 1,914-sq.-ft. space on the 5th floor of the Museum District building with the light Mussolini-era styling went on the market over the last weekend, for $425,000. The patio view is to the south, but there’s so much more to look at inside:
How does the city look after a long, heavy shower? If you’re stepping out to grab a towel in the north-facing master bath of a 26th-floor unit in the Warwick Towers on Hermann Dr., maybe something like this. Which will lead you to the little perch below, one of the nicest we’ve seen set up for someone who’s naked, dripping wet, and maybe trying to get a little work done:
“How much further will it fall?” Swamplot asked back in January, not long after the list price for Ken and Linda Lay’s 33rd-floor penthouse in the Huntingdon on Kirby Dr. was marked down the last time. And now we have a partial answer: All the way to $10.25 million — for now, at least. That’s almost a 14 percent cut from the last price, but just under 20 percent off the initial $12.8 million ya-gotta-try pricing Linda Lay started with.
And really, you want to be coming down in regular increments. What numbers come next?
For many years until her passing this January, this Woodway penthouse was the home of Ann Sakowitz, known locally as a patron of the arts and matriarch of the last link of a once-famous retail chain. Under the leadership of her son, Robert, the Sakowitz department stores drowned in debt in the late eighties. But Ann Sakowitz gained national attention in the early nineties as the poised but distraught mother on the witness stand, taking her son’s side in a nationally publicized courtroom feud with the family of her own daughter, sparkling international socialite Lynn Wyatt.
Ah, but can’t we put all that rancor behind us now? Let’s just enjoy the wine, the views, and the early . . . uh, tusk’n interior:
If our math holds, 10 or 11 condos have sold or otherwise gained occupants over the last 5 months at 2727 Kirby. Last October, the developers of the new 30-story highrise near Westheimer reported that 20 units in the tower were occupied.
Now the Chronicle‘s Nancy Sarnoff reports that the building’s owners have turned over management of the building to a separate agency:
The group has hired Houston-based Association Management to take over now that the building has more residents, said Sherri Atlas, who owns the unsold units in the high-rise with another investor. Fortress is the lender on the project.
Atlas said occupancy is at about 40 percent in the building, which has 77 high-end units.
- Hiring out the managing [Houston Chronicle]
- 2727 Kirby coverage [Swamplot]
Photo: Ziegler Cooper Architects
How has that condo conversion of the former Commerce Building at the corner of Main St. and Walker Downtown been working out?
The building has 122 finished units and a two-story-tall penthouse that has not been built out yet.
A total of 69 units have been sold, and another 25 have been leased. [Commerce Towers sales and leasing agent Susan] Speck said some of the renters are interested in buying.
Prominent Houstonian Jesse Jones built the first part of the structure in 1928, and added onto it in the 1930s, Speck said.
An entity named Premier Towers bought the building in 1999. It was redeveloped by New York-based Whitney Jordan Group with Tarantino Properties Inc. of Houston.
The first condo units were finished and people starting moving in during 2002.
- Commerce Towers goes back to sales push [Houston Business Journal]
- Previously on Swamplot: Eye-Opening Parking Garage Design
Photo of Commerce Towers, 914 Main St.: Sandra Gunn Properties
That condo in The Huntingdon belonging to Ken and Linda Lay may soon have company on the market. Randi Stanford, daughter of alleged swindler Robert Allen Stanford — who’s lived in a 2,803-sq.-ft. condo in the same highrise at 2121 Kirby for the last 3 years — has agreed to vacate her unit by the end of March.
The agreement ends a longstanding dispute. The court-appointed receiver for the assets of the Stanford Financial Group will put the unit up for sale.
According to HCAD records, Unit 16NE is owned by an LLC whose address is listed as 5050 Westheimer Rd. — the former headquarters of Stanford Financial Group. Writes the Chronicle‘s Mary Flood:
A report by an accountant working for the receiver showed that Allen Stanford paid for the condo with
 $1.3 million in early 2006. It shows that at least $44,000 paid for condo maintenance came directly from company funds, and that $34,000 of that came from the certificates of deposits issued by Stanford’s bank in Antigua that are at the heart of the alleged fraud.
- Stanford’s daughter will leave condo linked to his firm [Houston Chronicle]
- Stanford’s daughter agrees to vacate condo [Stanford Watch]
- A Look Inside Ken and Linda Lay’s Lonely Highrise Castle Retreat [Swamplot]
- Westheimer Office Building and All: Allen Stanford Says Sell! [Swamplot]
Photo of The Huntingdon: HAR
Now that photos have been posted — and the asking price has been chopped a full 7 percent — the whole world gets to peek inside the full-floor condo in The Huntingdon that belonged to Enron founder and CEO Ken Lay and his wife Linda. The buildout on the 33rd floor of 2121 Kirby Dr. was designed in the late nineties by Houston architect Leslie Barry Davidson, who’s proven herself versatile in many historical styles that pre-date highrise construction. But the listing photos show what looks like a glum castle retreat for a king and queen who’ve lost their jester.
Oh, but those 360-degree skyline views of Houston! And really, with angry investors and Californians likely to approach from any direction, you’d maybe want a hideout with 4 good corner balconies, just so you can assess the risks:
The Chronicle’s Nancy Sarnoff, after a tour of 2727 Kirby:
Developer Jerry Brown said 20 units are occupied in the 78-unit building.
The least expensive floor is priced at $575 per square foot, he said, and the average unit is about $2 million.
Maintenance fees are 65 cents per square foot.
While Brown said he’s seeing more traffic these days, there have been some snags.
I recently came across some lawsuits against the developer filed by buyers who canceled their contracts, but didn’t receive their earnest money back like they were promised.
“If they’re entitled to their money, they’ll get their money,” Brown said.
- A look inside 2727 Kirby [Prime Property]
- Previously on Swamplot: Condo Spies in the Night: Investigating Sales at 2727 Kirby, Studying Those Sales Reports for 2727 Kirby
Photo of 2727 Kirby: Ziegler Cooper
