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IN PROGRESS: The Residences at The Westin

Cotuit

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  • 2 weeks later...
provid Hamlet

provid

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I was looking through local listing to see what the westin prices will be....what shocked me was the level they list the estimated RE Taxes : 750sqf is over $7,000 a year....that cant be right? Plus a almost $600 condo fee and a base price a $504,900....did I say its only 750sqf? I would not even consider living in that place....its just a freak'en Westin after all. Provdience has alot better places to offer...

The Cosmopolitan listing is $769,900 and is 2335sqf with estimated RE Taxes: $1,800.00.....

http://www.riliving.com/PropSearch/cndform...=560053&indiv=1

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PVDJack Whistle-Stop

PVDJack

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I was looking through local listing to see what the westin prices will be....what shocked me was the level they list the estimated RE Taxes : 750sqf is over $7,000 a year....that cant be right? Plus a almost $600 condo fee and a base price a $504,900....did I say its only 750sqf? I would not even consider living in that place....its just a freak'en Westin after all. Provdience has alot better places to offer...

The Cosmopolitan listing is $769,900 and is 2335sqf with estimated RE Taxes: $1,800.00.....

http://www.riliving.com/PropSearch/cndform...=560053&indiv=1

yeah, hard to imagine the softening market sustaining those Westin numbers--the listing does note that the taxes are only an approximation at this point.

What's the "Cosmopolitan listing"?--the link leads to the Westin listing.

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basachs Burg

basachs

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I was looking through local listing to see what the westin prices will be....what shocked me was the level they list the estimated RE Taxes : 750sqf is over $7,000 a year....that cant be right? Plus a almost $600 condo fee and a base price a $504,900....did I say its only 750sqf? I would not even consider living in that place....its just a freak'en Westin after all. Provdience has alot better places to offer...

The Cosmopolitan listing is $769,900 and is 2335sqf with estimated RE Taxes: $1,800.00.....

http://www.riliving.com/PropSearch/cndform...=560053&indiv=1

Well it is right if it sells at 505k. 30.23 per thousand. Listing says it reflects homestead though, I dont think thats true.

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JimmyGreaves Hamlet

JimmyGreaves

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I was looking through local listing to see what the westin prices will be....what shocked me was the level they list the estimated RE Taxes : 750sqf is over $7,000 a year....that cant be right? Plus a almost $600 condo fee and a base price a $504,900....did I say its only 750sqf? I would not even consider living in that place....its just a freak'en Westin after all. Provdience has alot better places to offer...

The Cosmopolitan listing is $769,900 and is 2335sqf with estimated RE Taxes: $1,800.00.....

http://www.riliving.com/PropSearch/cndform...=560053&indiv=1

I did the math...$504,900 x 50% = $252,450 x ($30.23/$1,000) = $7,632.

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brick Burg

brick

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Based on the same calculation that gives a $7000 tax bill to Westin residents, the tax on that place would be about $11K.

If $1800 is accurate, then I would like to know what tax rule is being applied to explain the disparity.

One thing might be that 1800 is the personal contribution and part of the $650 per month condo fee goes to the buildings tax. I don't even know if that's possible, but I don't know all of the rules of how Providence collects taxes. Regardless, I then assume that the Westin would get a similar kind of deal going.

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basachs Burg

basachs

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Based on the same calculation that gives a $7000 tax bill to Westin residents, the tax on that place would be about $11K.

If $1800 is accurate, then I would like to know what tax rule is being applied to explain the disparity.

One thing might be that 1800 is the personal contribution and part of the $650 per month condo fee goes to the buildings tax. I don't even know if that's possible, but I don't know all of the rules of how Providence collects taxes. Regardless, I then assume that the Westin would get a similar kind of deal going.

The homestead exemption would contribute to the tax being lower. I don't know if it would be as low as 1800 however. Also, the 1800 figure might be what the owner pays now, not reflecting the selling price.

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  • 2 weeks later...
Garris Town

Garris

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The Westin and Waterplace look like they're tied for progress now.

The Westin should pull ahead soon... Aren't they going to start pouring concrete soon at a rate of a floor per week? I don't think the Waterplace condos are anywhere close to doing that...

- Garris

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Frankie811 City

Frankie811

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I'd like to see figures as to how many of Brown's alumni actually still live in the area. I'm sure that after graduating many left the state to find high paying jobs that they couldn't find here. And does a college student really need to be staying in a $ 2,000/mo luxury apartment, or a $ 400,000 condo, after paying $ 35,000 - 40/yr tuition. Books and batteries not included. :D

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Cotuit Megalopolis

Cotuit

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Money: when you have it, you have it.

Yes, there are people with money who would/could buy a condo for 4 years and have their child live there and have it as a place to stay when they visit. People like the Devito/Pearlman's might fall into this category.

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