This is a brief tour because the sales person was right on us, but you’ll get a feel for what they are offering – a standard-grade box of sticks and stucco. But they’ve sold half of their 47!
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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- 682 S. Coast Hwy 101, Suite #110
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So what’s the premium for being that close to the whole foods and does train cancel that premium out.
$800K+ for $1700 sqft !
For a condo?
What kind of financing have the buyers to date used? 100% LTV? 95%? ‘Cause those prices seem completely nuts, even taking into account you’re three blocks from the water.
Close to the train? It’s only 10-15 feet away!
They are using private financing – I think they are awaiting Fannie/Freddie approval (the same problem at Vantage Pointe).
The Lofts down the street are looking for $927,000 for 1,684 sf.
500+ per foot for a condo above a grocery store next to the tracks over looking a commercial roof top. Un Believable.
Well I guess you could call it Whole Foods condos….or per the first few seconds of the clip you could refer to it as F Street Condos
I will bet any amount of money the people buying those placea are not paying 1 M cash of their own money…..it has to be less than 5% down.
The HOA fee is $470/month, but at least you get preferred parking.
There’s not a problem with demand, it’s pricing.
Maybe they work for the seller. These sales are part of their pay package.
No lesson from the past 4 years has been learned — in only a few years, these will appear in the ‘WTF were they thinking’ blogs.
I am amazed what people will pay for a prison of (1) concrete; (2) automobiles; (3) noise; (4) Whole Foods. Each to his/her own, I guess, but I just don’t get it the allure of this high density stuff.
If I did some high profile white-collar crime I could probably get equivalent digs, sans HOA and mortage payment, and with the same aesthetic. Ok, the food would not be as good, but it would cheaper than Whole Foods, certainly.
I agree with SnotNose: WTF were they thinking?
Dunno… these condos would appear to be nirvana for the wealthy nurb crowd (“nurbana”?):
* High density
* Walkable w/ super close mass transit
* Expensive health food just moments away
I can’t help but wonder how many resident vehicles will be hybrids.
Yes, continue to stare in grumpy disbelief as the world goes by you and wealthy educated people find value in living near the ocean, in a walkable, unique town where they don’t need to drive to everything.
I just love how there is a dig at eating healthy or driving a hybrid.
Pricing aside, if you are young and urban, and likely single or a DINK, then they seem kind of ideal.
I’m really curious as to how much people are willing to pay for the whole foods premium. Is it worth $100K like a good view.
I do know that there was a transit plan that called for adding another train track and doubling the number of trains that go through there, but I figure these buyers will be first in line to prevent that from happening.
I wonder how many of these will be summer rentals?
The train noise shouldn’t be that much of an issue if the soundproofing is adequate. However, what’s the point of living so close to the beach if one keeps the windows shut all the time to muffle the noise of the train?
kudos to the developer for bringing this to the market at a time when others thought he was crazy. market rate/for sale condos with limitations on vacation rentals and they’ve sold 50% of them??? hope they end up selling out.
AND it’s green / LEED certified. not bad!
#11, “Walkable w/ super close mass transit”
I’ve always found it ironic that people who can afford to live near mass transit are those least likely to use it. Mass transit paid for mostly by sales taxes which people studiously avoid by buying from Amazon.
Mass transit is also heavily paid for by bonds when the general assembly is unable to get the 2/3 needed to raise taxes needed to pay for essential services. (Which is always.)
I don’t get these. Yes, the location is great, and I for one would love to be where the action is, but these are so basic! Call me picky, but if I’m going to pay this kind of money then i want more than vinyl floors, cheap bi-fold closet doors with crooked tracks, carpet that isn’t even trimmed where it meets flooring, windows that look out at walls with huge distracting ugly exterior lighting, a massive noisy A/C unit on the balcony and really ugly views. Not to mention a weak floor plan with lots of wasted space. So I don’t get who is buying these – they are really expensive for what you get.
Whole Foods is the best grocery store in the USA. Getting to live on one saves driving time and puts one in the middle of a constant stream of wealthy attractive health conscious professionals.
I like the location….but the lofts look better, in my opinion. Also, I noticed that a new coffee shop has just opened! I like that progress.
Adam #20.
I thought the same thing. Add proximity to the water to those two things and there is definitely a niche there.
Looks like this blog got taken over by shills for the developer…or just some Euro-trash wannabees.