Saturday, March 31, 2007

Large Loss on Luxury Downtown Condo at Harbor Club #2606

Harbor Club is a twin tower development near the Bay and convention center.

This unit has a very interesting sales history as Harbor Club is one of the older projects downtown which yields a longer sales history for the units there. It is listed well below its last sale price from 2005.

This is more specific evidence that higher end properties are also sustaining losses.

Type: Listed on MLS(#076025720)

List Price: $799,000
Cost: $875,000
Loss@6% Sales Expenses: $123,940
Loss%: 14.16%

Purchase Date: 09/23/2005
Holding Period: 18 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: 1036

Purchase Details: view

1 comment:

Mark in San Diego said...

The over $800 HOA's make this VERY expensive for a one bedroom - but very nice views and great location. The better buy in my opinion is the 2/2 for same price on the 5th floor - much more space, and in that building, all units have views because they are essentially 5 or 6 floors above ground because of the parking facility on the first 5 floors. . .