Wednesday, September 27, 2006

Luxury Downtown Condo at Park Place Sells for $98,000 Loss - #506

Park Place is a high rise Bosa building in downtown's Marina District.

This is the third showing on the list for Park Place.

Park Place is one of downtown's premier buildings in one of the best neighborhoods so this should give you a pretty good indication of the price peformance of higher end units since 2004.

Type: Closed Sale

Resale Price: $800,000
Cost: $850,000

Loss@6% Sales Expenses: $98,000
Loss%: 11.53%

Resale Date: 08/11/2006
Purchase Date: 10/28/2004
Holding Period: 22 months

Bedrooms: 2
Bathrooms: 2
Square Feet: 1227

Purchase Details: view

Resale Details: view


Sven said...

Seeing losses on properties purchased in 2004 is pretty significant. It means the drop is just that much more. It'll be interesting to see if the prices drop all the way to 2001 levels.

Anonymous said...

Logically, it should drop back to 2001 levels plus 3% annual inflation.

Anonymous said...

If the property was purchased in 2005 instead of 2004, the loss would be even more.