Wednesday, July 25, 2007

Lofts at 777 6th Avenue

The Lofts at 777 6th Avenue was a rental project that was converted into condos. This is another apartment conversion project that is likely to have a majority of the units worth less than what the current owners paid. There are four units current listed for sale at losses noted below:

Unit #411
Type: Listed on MLS(#076058976)

List Price: $409,000
(Range priced $389,000 to $429,000)
Cost: $438,990
Loss@6% Sales Expenses: $54,530
Loss%: 12.42%

Purchase Date: 10/27/2006
Holding Period: 9 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: 749

Purchase Details: view

Unit #207
Type: Listed on MLS(#076050300)

List Price: $387,000
(Range priced $379,000 to $395,000)
Cost: $441,000
Loss@6% Sales Expenses: $77,220
Loss%: 17.51%

Purchase Date: 10/12/2006
Holding Period: 9 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: 725

Purchase Details: view

Unit #415
Type: Listed on MLS(#076054817)

List Price: $412,000
(Range priced $399,000 to $425,000)
Cost: $486,000
Loss@6% Sales Expenses: $98,720
Loss%: 20.31%

Purchase Date: 10/04/2006
Holding Period: 9 months and counting...

Bedrooms: 1
Bathrooms: 1


Purchase Details: view

Unit #205
Type: Listed on MLS(#076058984)

List Price: $389,000
(Range priced $379,000 to $399,000)
Cost: $441,000
Loss@6% Sales Expenses: $75,340
Loss%: 17.08%

Purchase Date: 10/02/2006
Holding Period: 9 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: 725

Purchase Details: view

5 comments:

Tyrone said...

1 Bed, 1 Bath units for prices around $400K. Amazing. They're in for a rude awakening.

Anonymous said...

Awakening??? I really doubt you could even get any sleep down there in one of those lofts unless you close all windows and turn on the AC. It's definitely noisy down there.

Anonymous said...

It's noisy most places in the downtown area, be it from airplanes or Gaslamp revelers. If you want quiet, move to the suburbs.

barnaby33 said...

Damn, I thought the $54,530 was the price. At that point a condo downtown, or rather under the flight approach might be worth it.
Josh

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