Thursday, November 19, 2009

PONTIAC SILVERDOME -- The Deal Of The Century?

Yesterday the Pontiac Silverdome was sold at auction. When completed in 1975, at a cost of $55.7 million (the equivalent of around $70 million today), it was the largest stadium in the National Football League, with seating for 80,368 loyal Detroit Lions fans. And every seat was indoor thanks to the 10-acre Teflon coated fiberglass roof supported by no less that 1,700 tons of structural steel.

The selling price: $583,000.

That's not a typo. The selling price was a mere Five Hundred Eighty Three Thousand Dollars.

This amount is virtually the same as the asking price for the luxury high-rise condominium I was recently looking at in downtown San Antonio. I was told that this was a bargain the likes of which I would never, ever see again.

When I broached my semi-trusty Century 21 agent about the purchase price of the Silverdome he found the news so shocking it turned his sports coat a hideous yellow vomit color. Oh wait, it was already that way. But, now his face was just a half-shade off to match his jacket.

Just for fun, let's make some simple comparisons -----

Square Footage:
Silverdome -- 430,000/sf
Luxury Condo -- 2,150/sf

Price Per Square Foot:
Silverdome -- $1.36/sf
Luxury Condo -- $271.00/sf

Silverdome -- 1,240 Luxury Suites
Luxury Condo -- 1 Master/1 minuscule Guest Bedroom


Silverdome -- 1 Full Service Epicurean Restaurant supplemented by 42 Concession Stands
Luxury Condo -- 1 average-sized kitchen -- with built-in disposal, trash compacter and granite counter tops. Yipeee...

Parking Places:

Silverdome -- 12,464 on-site, with another 8,700 off-site
Luxury Condo -- 2

Oh yes, the purchase of the Silverdome includes 132 acres of land. The Luxury Condo does not include any land whatsoever.

To be totally fair, my refrigerator now sports a Century 21 Refrigerator Magnet -- a gift given to me even though I have not made a purchase. I also have a Century 21 Key Chain. How can they afford such largesse?

All kidding aside, there obviously is no comparison. But is bigger really better?

Just ask any woman...


At 11:32 AM, Anonymous mrn said...

for that price, they should have thrown in the lions. i would have at least negotiated it down more....perhaps even to the point of paying me....remember, it's still in the detroit area....mrn

At 9:25 AM, Blogger Unknown said...

Way to critical of a team that has one a game and gives fans heart attacks and entertainment in ways no sane pro footall fan would believe. Hey and let's not forget it is in Detroit where they have to have floor warmers in the bathrooms so your feet don't cramp up.

At 8:09 PM, Anonymous makati condominiums said...

Great to live in a place like that and the price is very affordable.

Arrielle P

At 12:52 PM, Anonymous buy generic viagra said...

It's a very beautiful structure, I mean, very modern and besides the anti-seismic technology is very impressive. Love the parking

At 11:56 AM, Anonymous levitra cialis said...

I was impacted when I visited Dallas , the Cowboy stadium is unbelievable , I am not that it is not related with you were posted , but I want to said it about Dallas !


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