Wednesday, May 30, 2007

Downtown Condo at Park Row #112

Park Row is one of downtown's older projects and is in the Marina District. This large one bedroom loft is listed below last sales price from the fall of 2005. The sales history on this one is very interesting as the 2nd to last sale from January 2005 shows practically no growth.

Type: Listed on MLS(#076040962)

List Price: $510,000
Cost: $540,000
Loss@6% Sales Expenses: $60,600
Loss%: 11.22%

Purchase Date: 11/15/2005
Holding Period: 18 months and counting...

Bedrooms: 1
Bathrooms: 2
Square Feet: 977

Purchase Details: view


Mark in San Diego said...

Growing price gap between quality and quantity. . .

Any comments on my observation that there is a huge and growing price gap between the top buildings downtown, which are holding their prices, and those "less than desireable" places that can't give condos away. . .I speak of course of buildings like the Grande which a two bedroom is still a minimum of 800K, and Aquavista where a 17th floor penthouse 2 / 2.5 bath is on the market for 630K or so. . .even I am getting interested in some of these distress units. I could do a hell of a lot of upgrades for 200K. . .the question - will this huge gap start slowing sales at places like the Grande? Will that eventually pull all prices down?

There was a discussion at another blog site about school districts, and one person pointed out that if you had to pay 400K more for a house in a decent school district, you could put a kid through any first class private school for much less. . .just buy the cheap house and send the kid to "country day prep.". . .kind of the same idea - save money on the house, and put it elsewhere.

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