Sunday, March 25, 2007

$100K + Loss on Luxury Downtown Condo at Park Place #1305

Park Place is a Bosa project in the Marina District.

This unit just sustained a $50,000 price cut. The new list price is now less than its last sale price in June of 2004 - nearly three years ago. I'd also add that I still hear and read the arguments that higher end properties have not declined in value. This property is a good example of a high end unit that has lost value.

Type: Listed on MLS(#076020447)

List Price: $849,900
(Range priced $849,900 to $849,900)
Cost: $900,000
Loss@6% Sales Expenses: $101,094
Loss%: 11.23%

Purchase Date: 06/23/2004
Holding Period: 33 months and counting...

Bedrooms: 2
Bathrooms: 2
Square Feet: 1353

Purchase Details: view


Anonymous said...

A 50K haircut is a sign of the times.

Anonymous said...

$730 per month HOA fee... yikes!

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