Downtown Condo at La Vita #205

La Vita is the tallest building in Little Italy and was completed right around the high in the market. The one bedrooms there are all virtually identical short of view and granite color which creates a nice situation for market watchers to gauge the value of these units.

This unit has generated a huge loss for a model one bedroom condo. I know there were several units like this that were flipped when the building was opened so I'm certain there are more distressed properties in La Vita.

Type: Listed on MLS(#078045642)

List Price: $362,250

Cost: $435,000
Loss@6% Sales Expenses: $94,485
Loss%: 21.72%

Purchase Date: 03/24/2006
Holding Period: 15 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: 706

Purchase Details: view

Downtown Condo at Bella Via #208

Bella Via is located on India right in the heart of Little Italy. This unit is listed significantly below its last sales price from the summer of 2004 - nearly three years ago!

Type: Listed on MLS(#076048415)

List Price: $435,000

Cost: $500,000
Loss@6% Sales Expenses: $91,100
Loss%: 18.22%

Purchase Date: 08/05/2004
Holding Period: 34 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: 903

Purchase Details: view

Downtown Condo at ParkLoft #1102

Parkloft is in the recently carved out of the East Village Ballpark District.

This unit shows a significant net loss, even more interesting is the last sales date of February 2004 which was over three years ago.

Type: Listed on MLS(#076032067)

List Price: $1,894,900
Cost: $1,950,000
Loss@6% Sales Expenses: $168,794
Loss%: 8.66%

Purchase Date: 02/20/2004
Holding Period: 40 months and counting...

Bedrooms: 2
Bathrooms: 2.5
Square Feet: 2914

Purchase Details: view