Tuesday, August 15, 2006

Yet Another Acqua Vista Condominium - #1406

Acqua Vista is an apartment conversion in Little Italy. It was designed and developed as an apartment building and was sold midway through the development of the building to Hovnanian and was sold as condominiums.

This is the 6th property to make the list. Note that this condo was purchased from the developer and wasn't a flipper unit. There are many units at Acqua Vista that were resold by the first investors. These units are very clearly deeply underwater at this point.

Type: Listed on MLS(#058072623)

Resale Price: $362,000 (Range priced $350,000 to $375,876)
Cost: $381,000

Loss@6% Sales Expenses: $40,720
Loss%: 10.69%

Purchase Date: 03/09/2005
Holding Period: 17 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: 655

Purchase Details: view

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