Real Estate Sales Great New Construction For Sale that is going to be Completed by August 2024 - Meet Palermo

[Johnny]

Wow @Johnny congratulations. It turned out beautiful. Is that balcony all your apartment? It looks very big. Your view looks incredible. It is rare to get unobstructed views like that in BA. It looks very modern. Looks like you have a lot of sunlight which I love. Fabulous.

Thanks! Yes that is my entire balcony of my apartment. It extends from the living room all the way to the bedroom. I love it because there is a low rise building in front of it so it will never have the view blocked. The building is very modern. I love that style. Sunlight all day long.

Wow. I LOVE the look of your apartment. Is it on Airbnb? Can you post the link or can you DM me it? I love the look of it. Can I ask what the monthly expenses are in something like this?

Yes I just sent you a DM @Jenn. It's on Airbnb. The expense are very low. I pay less than $85 USD /month at least the first few months. I am not clear if that will go up but it has been the same the past few months. The building was set up so that it wouldn't have a lot of expenses. We have a doorman during the day but he leaves at 6 PM. There is a video security service 24/7 so they record and have a person that is remote that watches the entrance.

It's cool as all the owners just have a facial scan at the entrance that opens the doors. And my rental guests have a blue tooth key to enter the building on their phone and the developer included high end smart locks to the apartments so no one even needs a key.

 

[Johnny]

Thanks Johnny for the kind words. Your place turned out fabulous. I'm glad you purchased the penthouse. You will have a lot of capital appreciation. I'm very pleased with how all the units turned out in the building. We will celebrate the next time you're in BA.

Thanks Mike for everything!

Fabulous @Johnny. You happened to get in at a good time. Prices were low when you bought but have been going up. Are you doing short term or long term rentals?

I feel very very lucky. Mike told me that prices had bottomed out and to jump on this unit. What sold me is that he also purchased a few units in the building. I have piggy backed on a few other properties that he purchased properties on and it has always worked out extremely well.

I thought about doing long-term rentals but I already decided to furnish it and I wanted to come down a few times a year and use it. If I rented it out long term I can't stay in it. I have been VERY happy with short-term. I'm charging about $125 USD per night or about $2,500 USD per month on Airbnb. Considering the price I paid for the apartment I am extremely happy! I have had several short-term bookings but I also rented it for a 34 night booking and it was $2,900. I have to pay a management fee but well worth it.

I love Palermo Uno! I believe it's mostly all short-term rentals. I rented in that building for a few months. The views are some of the best in BA. Location is essential for me. I like being close to a subway and very central. Palermo Uno was great for that.

This building also is great. I love that area near Alto Palermo shopping mall.

The place looks beautiful. @Johnny what did you spend furnishing it? You can PM me if you don't want to post. I found furniture extremely expensive in BA. I like the look of this and would also love the link to book it.

I didn't stay in Palermo Uno but I visited that building and the office of GyD is right next to Palermo Uno. That is the same developer that built my apartment and also the developer that I bought my 2nd apartment that they are building now. I am very happy with them. I had several meetings with them on a few other projects. Very nice people. I was fortunate to have lunch a few times with the owners of that company.

I loved the location of where my building is. It's not as touristy as other parts but I was told that the neighborhood will grow tremendously over the next few years. Mike bought up a lot of properties in Soho before it was all developed into what it is today and told me the area of my apartment has the same potential.

 

[JonJLA]

Thanks! Yes that is my entire balcony of my apartment. It extends from the living room all the way to the bedroom. I love it because there is a low rise building in front of it so it will never have the view blocked. The building is very modern. I love that style. Sunlight all day long.


Yes I just sent you a DM @Jenn. It's on Airbnb. The expense are very low. I pay less than $85 USD /month at least the first few months. I am not clear if that will go up but it has been the same the past few months. The building was set up so that it wouldn't have a lot of expenses. We have a doorman during the day but he leaves at 6 PM. There is a video security service 24/7 so they record and have a person that is remote that watches the entrance.

It's cool as all the owners just have a facial scan at the entrance that opens the doors. And my rental guests have a blue tooth key to enter the building on their phone and the developer included high end smart locks to the apartments so no one even needs a key.

Great job on the apartment @Johnny.

$85/month is extremely good. Mine jumped up quite a bit last year but they have now stabilized. Not having a live in doorman really helps contain expenses. That was a smart decision. More and more buildings are trying to get rid of the live in doormen as they cost too much. More buildings are moving to that totem video monitoring system.

 

[Johnny]

The place looks beautiful. @Johnny what did you spend furnishing it? You can PM me if you don't want to post. I found furniture extremely expensive in BA. I like the look of this and would also love the link to book it.

Thank you. Furniture is expensive in Argentina! The process to furnish took a long time. Many furniture items they do not have readily available and I had to pay a deposit and then they started making it. Some of the stuff took almost 2 months to get. Electronics are expensive compared to the USA too. I went higher end as I know from experience you can charge more per night going higher end.

I went with high quality mattresses which was very expensive. My sofa bed also was expensive and took a while to make. Also no lights at all come with apartments so I had to buy lighting for all the apartment too. Things like high quality sheets and bedding are expensive too. I got a spreadsheet with all the expenses and they provided receipts for everything. Some things the designer got a discount but it was a lot of work preparing everything. They would send me updates on everything. I also went with an expensive photograph in the living room. All told I spent $18,600 USD furnishing plus a fee I had to pay to the designer to buy everything and coordinate delivery, etc.

@VINO I just sent you a PM with the listing.

 

[Mitch]

Thank you. Furniture is expensive in Argentina! The process to furnish took a long time. Many furniture items they do not have readily available and I had to pay a deposit and then they started making it. Some of the stuff took almost 2 months to get. Electronics are expensive compared to the USA too. I went higher end as I know from experience you can charge more per night going higher end.

I went with high quality mattresses which was very expensive. My sofa bed also was expensive and took a while to make. Also no lights at all come with apartments so I had to buy lighting for all the apartment too. Things like high quality sheets and bedding are expensive too. I got a spreadsheet with all the expenses and they provided receipts for everything. Some things the designer got a discount but it was a lot of work preparing everything. They would send me updates on everything. I also went with an expensive photograph in the living room. All told I spent $18,600 USD furnishing plus a fee I had to pay to the designer to buy everything and coordinate delivery, etc.

@VINO I just sent you a PM with the listing.

What is the deal with mattresses in BA? I went into a store in the mall and I saw mattresses for like 4-5 million pesos! Between $3,300 and $4,500 dollars for a mattress. I couldn't believe it. Prices of TVs are also expensive.

 

[FuturoBA]

Congrats @Johnny the place looks awesome. Amazing how much furniture and interior design makes a difference. Most airbnbs I see listed in BA have the bare bone minimum w Ikea looking furniture. Yours is clearly high end. As expensive as it was it seems to be offset by the premium you can charge, so a worthwhile investment.

 

[CraigM]

Congrats @Johnny the place looks awesome. Amazing how much furniture and interior design makes a difference. Most airbnbs I see listed in BA have the bare bone minimum w Ikea looking furniture. Yours is clearly high end. As expensive as it was it seems to be offset by the premium you can charge, so a worthwhile investment.

Indeed, congrats Johnny! Really great to see photos of a GyD project, makes me excited about the next one.

 

[Spend Thrift]

Thank you. Furniture is expensive in Argentina! The process to furnish took a long time. Many furniture items they do not have readily available and I had to pay a deposit and then they started making it. Some of the stuff took almost 2 months to get. Electronics are expensive compared to the USA too. I went higher end as I know from experience you can charge more per night going higher end.

I went with high quality mattresses which was very expensive. My sofa bed also was expensive and took a while to make. Also no lights at all come with apartments so I had to buy lighting for all the apartment too. Things like high quality sheets and bedding are expensive too. I got a spreadsheet with all the expenses and they provided receipts for everything. Some things the designer got a discount but it was a lot of work preparing everything. They would send me updates on everything. I also went with an expensive photograph in the living room. All told I spent $18,600 USD furnishing plus a fee I had to pay to the designer to buy everything and coordinate delivery, etc.

@VINO I just sent you a PM with the listing.

Congrats @Johnny that turned out spectacular! Very airy and that area is great. I prefer that area not being in the heart of all the tourists. So true about how long it takes to get things. I have a bad back and ordered a good mattress and I was also shocked how much a great one costs. I spent over $2,000 dollars on a mattress alone! But they are a good investment.
The good ones aren't made here and have a big tax is what I am told.

It turned out wonderful.

Congrats @Johnny the place looks awesome. Amazing how much furniture and interior design makes a difference. Most airbnbs I see listed in BA have the bare bone minimum w Ikea looking furniture. Yours is clearly high end. As expensive as it was it seems to be offset by the premium you can charge, so a worthwhile investment.

90% of all the Airbnbs in BA are dumpy with terrible furniture and terrible mattresses. I rented an apartment on a long term lease but I had to change the mattress. Felt like sleeping on bricks. Most don't want to make the investment. Also what is with owners just having Queen beds and not King. Most Airbnbs don't have king size beds. That alone probably helps with some guests.

 

[BuySellBA]

I looked in that building and liked it but there are no more 2 bedroom units available! I want to get at least 2 bedrooms as I heard that is better for Airbnb rentals. I see this same builder is doing this project called Alma. Has anyone purchased in that development? If so, can you post about your experiences? There are only two 2 bedrooms left.

ALMA PALERMO Medrano 1244

G&D Developers es una empresa desarrolladora de productos inmobiliarios fundada en la Ciudad de Buenos Aires, Argentina, en 1982. Han construido y desarrollado desde entonces más de 50 emprendimientos inmobiliarios, superando los 400.000 m2 en la Argentina, Estados Unidos y Uruguay. Los...

www.gddevelopers.com

Yes we purchased a unit in Alma Palermo for a client last year while it was being built. It turned out beautiful! It's been booked solid since we finished it a few months ago and already in the top 5% of all Airbnb's in Buenos Aires. The owner is extremely pleased and ended up buying another pozo unit as well.

 

[Blockchain]

Congrats @Johnny that turned out spectacular! Very airy and that area is great. I prefer that area not being in the heart of all the tourists. So true about how long it takes to get things. I have a bad back and ordered a good mattress and I was also shocked how much a great one costs. I spent over $2,000 dollars on a mattress alone! But they are a good investment.
The good ones aren't made here and have a big tax is what I am told.

It turned out wonderful.


90% of all the Airbnbs in BA are dumpy with terrible furniture and terrible mattresses. I rented an apartment on a long term lease but I had to change the mattress. Felt like sleeping on bricks. Most don't want to make the investment. Also what is with owners just having Queen beds and not King. Most Airbnbs don't have king size beds. That alone probably helps with some guests.

This was my experience renting a few Airbnbs in BA. It is fair to say most owners in BA on Airbnb spend very little furnishing their place. I had to leave the first Airbnb I had because the bed was too uncomfortable. The place didn't even have a coffee maker either. I did find a nice Airbnb in Recoleta and it was owned by an American. I think foreigners probably furnish and spend more money vs. locals.

 

[Avocado]

Yes I just sent you a DM @Jenn. It's on Airbnb. The expense are very low. I pay less than $85 USD /month at least the first few months. I am not clear if that will go up but it has been the same the past few months. The building was set up so that it wouldn't have a lot of expenses. We have a doorman during the day but he leaves at 6 PM. There is a video security service 24/7 so they record and have a person that is remote that watches the entrance.

You did very good Johnny. Congratulations for you. You apartment turned out beautiful. You lucky you bill so low. Are you sure so low? That not common for new building in Palermo.

My condo bill jump up like crazy last year. It still go up! Many building have many problems with people pay late. I read story that 35% to 40% of people paying their expensas late! Very difficult situation if everyone pay late.

Las expensas subieron 133% en el año y crece la morosidad en los edificios: las mejores alternativas para reducir costos

Cuáles son las razones detrás de los fuertes incrementos que afectan tanto a propietarios como a inquilinos. En octubre, el pago promedio de expensas alcanzó un nuevo récord. Qué se espera para el último trimestre del año

www.infobae.com

 

[Larry]

Stunning apartment @Johnny. Good location.

You did very good Johnny. Congratulations for you. You apartment turned out beautiful. You lucky you bill so low. Are you sure so low? That not common for new building in Palermo.

My condo bill jump up like crazy last year. It still go up! Many building have many problems with people pay late. I read story that 35% to 40% of people paying their expensas late! Very difficult situation if everyone pay late.

Las expensas subieron 133% en el año y crece la morosidad en los edificios: las mejores alternativas para reducir costos

Cuáles son las razones detrás de los fuertes incrementos que afectan tanto a propietarios como a inquilinos. En octubre, el pago promedio de expensas alcanzó un nuevo récord. Qué se espera para el último trimestre del año

www.infobae.com

This makes me very angry because my condo fee was affordable when I bought it but now it has increased beyond what I am comfortable with. I have rented out my property now and leaving BA. The new tenant will have to pay that bill. When I bought my apartment 20 years ago the monthly bill was $60 a month. Now I am paying almost $400 a month including my ABL bill.

Salaries have not gone up by that amount over the years! Most of this increase has been since Milei started! It was stable before that. Getting rid of the subsidies just killed expenses. Just terrible.