An Investor Spent $800,000 Renovating This Houston Condo. Was It Worth It?

The Art Deco facade of this Astoria high-rise is a visual cue that much of what lies inside is thoroughly modern.

Unit 2301 at 1409 Post Oak Blvd.—a 3,079-square-foot residence—was purchased by an investor with a specific method: find a unit in a sophisticated building, renovate it, live there, and sell when the right buyer comes along, says listing agent Cesar Estefan of Douglas Elliman.

Twelve months and $800,000 worth of renovations later, every room in this condo has gotten a makeover. Updates include custom lighting, Italian cabinetry, premium stone and tile in the kitchen and bathrooms, and Gaggenau appliances. The original white oak floors were also refinished.

The Astoria, completed in 2014, is one of several high-rises developed by Randall Davis, a portfolio that also includes London House, Arabella, Gotham, and Manhattan—all in Houston. “We’re definitely penthouse quality,” Estefan says. “We might not be on the 28^th floor, but it sure feels like it.”

While many renovations default to neutral finishes designed to appeal to the widest audience, Estefan says this one went the other direction, with the investor incorporating upgrades and unique finishes he thinks buyers want. “I know that it sounds biased, but I’m on the market every single morning looking at what we’re competing against—even new construction—in the $2 million to $3 million range, and nowhere in Houston can you find what we’ve got here,” Estefan says. “There was no cutting any corners.”

The unit is listed at $2.88 million—$935 per square foot—with three bedrooms, three and a half bathrooms, and custom-made furniture available with the sale. The current owner also converted a small maid’s quarters into a massage room, a quiet retreat for those who prefer their amenities close by.

“At [other high-rises] in the area, everyone is asking above $1,000 per square foot. We’re right below that,” Estefan says. “We are definitely asking a price-per-square-foot that competes against new construction, but it’s a premium lifestyle, and we deliver premium.”

Among the condo’s standout features is a primary closet with serious wow factor—the type that you would spend a lot of time in while getting ready, maybe even with a drink in hand, Estefan says.

“The closet feels like you are walking into a Tom Ford showroom,” Estefan says. “It was built with the thought of ‘What are they doing at Saks Fifth Avenue? What is the Carolina Herrera showroom doing?’”