I understand that prices have gone up for materials, but the Montgomery finished their construction/refurb 2 years ago. They are just selling the apartments that people already live in.

That being said, I do expect the price to be well above 200k.

Besides construction costs, you have to factor in market forces.

You can still buy a very nice home in Mesta Park and on the smaller lots in Heritage Hills for $200K. And much cheaper housing is still a short car ride away.

I hope prices stay up to inspire more development downtown, but if I was investing, I'd be very wary about jumping into the first-up developments.

One of the great things about OKC since I've been here has been the affordability of the downtown area. With prices that are being proposed, I could just about by a condo right by the beach in Fl. I keep getting stuff in the mail about the Hill. I'd like to know how many they have sold. I have a feeling they might come down in price a little bit. Of course they will start them off high, they can always lower the prices if they dont have buyers.

Oklahoma is a bid down market too. things always go for below asking. Basically, if you're selling and they take your asking price, you didn't ask for enough.

I wonder if this has anything to do with the number of rental units he'll be putting on the market with the Park-Harvey building?

And I don't think he's asking too much for the Classen. It will be one of, what, maybe 3 high rise residential buildings in all of OKC and with its amenities, access to services, and unique architecture, it may be the best.

I don't think these developments are for the Edmonite/Normanite mind set and aren't going to pull those people in. But, they will attract new interest in OKC and possibly keep some people here who aren't interested in suburban living. They will pay extra for that, as there are no other options in OKC.

An update for everyone on the Montgomery units. As you probably already know, they are for sale now. I think the price is insane. My unit, a 1490 sq ft unit, is going for...wait for this...$330,000! Who can afford that?

Remember, this price includes no parking, no storage and there is an additional HOA fee somewhere on the order of 250$ a month to consider.

Wow. I guess I won't be living here much longer.:(

That price is well above a comparable unit at Block42, which comes with parking and minimal HOA.

Apparently they have sold 5 units so far, all to current residents. That is most likely all they will sell to residents, as the offer was put down several months ago.

Will the condo conversions ever end?Are there any plans for a free standing condo tower?

$330K???

Wow, that's a lot for a pretty basic unit without much view, no balancony, no private outdoor space, no parking, etc.

You can buy a very, very nice house in Crown Heights or just about anywhere esle for that kind of money.

It's absurd. It is also a cruel trick on those who made the move and planned to be long-term renters at The Montgomery, only for them to change the rules in the middle of the game. Sorry this has happened.

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I guess it was their end game plan the whole time. They told us they thought the time was "right". I suspect they wanted to beat out the other condo units coming online. Probably hoping to charge a premium with the explanation being "there is nothing else available right now."

I guess it was their end game plan the whole time. They told us they thought the time was "right". I suspect they wanted to beat out the other condo units coming online. Probably hoping to charge a premium with the explanation being "there is nothing else available right now."


Good God, $220/square foot, and with limited amenities? Unbelieveable. I wonder if all of the recent talk about the costs of other proposed residential units enticed the owners to deliver such a royal screwing unto you. They must have realized what a tremendous cash-cow they were sitting on, and decided to cash-in.

You know, I have a bit of a perverse desire to see the Montgomery, and the other astronomically priced residential projects in Bricktown, get their cumuppence: the prices are so outrageous I can't help but be offended by the very thought of them. Oh well, market forces will prevail. Hopefully their influence will propel the prices down out of the stratosphere.

What are the HOA dues for the those buying at the Montgomery?

I believe the HOA dues were roughly $0.40/sq ft. For my apartment, this equates to about 650$ a month. Now, this includes water/electricity/gas, but I doubt you would pay more than $200/month for those. Pretty steep.

Some of the benefits they were pushing were the salon and restaurant downstairs. The restaurant is nice, but I don't eat there that often. I never use the salon, and neither does my wife, as they have been insanely expensive in the past.

$650 / month for HOA??? That's absolutely crazy... Utilities in an apartment like that would be no more than $150 or so at the most.

I torn between wanting to see greedy sellers get their cumuppence (as HFK mentioned) and hoping that prices stay up to encourage more development.

Seems like they could come down quite a bit and still leave plenty of room for development profit, though.


My guess is that Tannebaum is trying to make a quick buck and will soon back down from these outrageous prices. I suppose you can't blame him for trying, especially if he's finding some buyers.

those HOA dues are absurd. Did they also pitch you the benefit of "Express Personnel" being downtairs?? haha, very limited amenities. GT is making a good money move, but not a good image move. I thought my HOA dues were high where I just moved in Midtown.

Yes, OKC is a small community in the word-of-mouth sense and Tannebaum may make some short-term cash by gouging buyers that want in now, but he's got lots more developments around town and those could suffer in the long-term as a result.

Personally, I'm pretty outraged by what he's trying to do and I will be far less supportive of him in the future.

those HOA dues are absurd. Did they also pitch you the benefit of "Express Personnel" being downtairs?? haha, very limited amenities. GT is making a good money move, but not a good image move. I thought my HOA dues were high where I just moved in Midtown.

You've got to be kidding. An employment agency is going to be on the ground floor of a condominium? $300,000.00 plus and visitors to your home get to see the impressive sight of an employment agency at lobby level?

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Like the Good Book says, pride cometh before a fall, and there seems to be a surfeit of pride in Bricktown these days. Then again, if the market will sustain those kinds of prices, who can criticize Developers for taking the money? I'm an avowed Capitalist, but I'm willing to admit that Capitalism can be both neccesary and nauseating.

Express Personnel is already there along with a spa and Trattoria il Centro.

Express Personnel is already there along with a spa and Trattoria il Centro.

I realize they're already there. But now it's an apartment building (albeit a nice one). For a condo, and the prices they're getting, I would think they would have a say in an Express Personnel being on the lobby floor. A $300,000 plus per unit condominium building should not have an employment agency anywhere in the building. To me that goes without saying, but then again, it's Funk and Tanenbaum and the GOBN. I have a hard time seeing them kick Funk's place out. Though they should demand it if they are putting up over a quarter million dollars into their home.

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Hmmm...
Got a letter yesterday explaining that the Montgomery was no longer attempting to sell their apartments, but was instead planning on leasing (for ever??).

I don't have any background info on why they changed their mind. May have been lack of interest, although the units have only been on the market for two months.

It would be nice if they made up their mind.:confused:

That being said, I'm glad I'm not getting kicked out!

Strange... I suppose they tested the waters (at ridiculous prices) then decided they could make more money renting.

No kidding, the ridiculous prices were absurd. I think the bigger cash cow is in the long run considering the high rent they already demand. Tanenbaum has been rather peculiar lately to say the least.

Weird. The prices they were asking were so far out of line as to be almost absurd in the extreme.

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I just don't get Tanenbaum lately. He overpromises and underdelivers. You would think a businessman of his caliber would know to underpromise and overdeliver. The Classen and Park Harvey projects are now being delayed again further than the last expected completion dates.

At least he delivers, eventually. Can't say that about most in this market.