condo

60 Orchard Goes On Sale In New York

A boutique condo project on New York City's Lower East Side has opened for sales in preparation for occupancy in April. The seven-unit boutique condominium is in a former storefront located between Grand and Hester streets. The building was designed by New York-based G Ateliers Architecture. The building's new unique glass and steel façade contrasts with the area's brick structures from earlier eras. Each full-floor residence has floor-to-ceiling windows. The two-bedroom, two-bathroom homes each feature a gas fireplace, operable glass "Nanawalls," solid 5-inch oak ebonized flooring, frameless glassed Juliette balconies and private balconies or terraces. Floorplans show residences which have a front public living room/kitchen area with a curved hallway leading down to a pair of bedrooms. The penthouse duplex has multiple landscaped terraces and balconies.

Gallery: 60 Orchard

Tags: condo, condominium, condos, lower east side, new york real estate

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Condo Auction Puts Newly Built Condos Up For Sale For Bargain Prices

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

More and more we are seeing condos go up for auction as soon as they are completed. Sheldon Good and Company is auctioning off a selection of 20 luxury residences located at The Gate Condominium, a newly constructed state-of-the-art building in The Bergen County borough of Rutherford, New Jersey on Saturday, November 20th. A total of eight units are to be sold "Absolute," regardless of price.

The Gate Condominium is a luxury development in northern New Jersey with units that were originally priced to $579,000. Units have hardwood floors, high ceilings, GE stainless steel appliances, granite countertops and large balconies. The one and two bedroom units will be auctioned off with suggested opening bids as low as $145,000.
"
Since this is a 'Grand Opening Auction,' buyers will have the unique opportunity to bid on and purchase a home in a beautiful, brand new luxury building at their desired price," said Jeff Hubbard, Executive Managing Director of Sheldon Good & Company. "Now more than ever before developers around the country are utilizing the auction process as a strategic part of their overall marketing plan at various stages of the development process. The developer of The Gate is utilizing the process in order to sell out all 20 units available in a single day, eliminating the carry costs associated with a conventional sales program, while passing along those savings to the consumer," said Hubbard.

The Gates Condo Auction website has complete details.

The Gate development is located at 17 Meadow Road, just one block from the 190 bus and the Rutherford Station on the New Jersey Transit Bergen Line with direct train access to midtown Manhattan.

Gallery: The Gate Condominiums

Tags: condo, condo auction, condominium, condominium auction, condominiums, condominiums for sale, new jersey real estate, Rutherford B. Hayes, sheldon good

101 Warren Street Sells Out; Last Unit Ekes Out $13.2 Million

by Lisa Palladino (RSS feed) —

Filed under: Real Estate Developments, Architecture & Design

101 Warren Street Sells Out; Last Unit Ekes Out $13.2 Million

Real estate blog Curbed reported a few days ago that NYC/TriBeCa's 101 Warren Street has finally sold out, after four years, racking up $650 million in sales and becoming the "most successful condominium offering in the history of downtown Manhattan" in the process. Of the 35-story, 227-unit, the last one to sell was Skyhome 3460, a 4,518-square-foot duplex that sits in a glass box atop 101 Warren's granite facade, with uninterrupted views and wraparound terraces. According to StreetEasy, the 4-bedroom/4.5 bath condo was first listed for $15,664,000 in 2006, buying off a floorplan. It lingered, but as the building went up and the boom continued, the price inched up to $16,350,000. Then came the market's fall and with it a price cut to to $15,950,000. The unit was listed in contract in early August and sold a week later for $13,237,250, 15.5% below the original asking price and 19% off the peak price. The buyer is Maryland-based technology entrepreneur Robert Baruch and his wife, Kathy.

Tags: 101 Warren Street, condo, New York, NYC, real estate

The Citadel, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's home is a two-bedroom fortress in the sky in Seattle. This one has pretty modest square footage (2658 sq. ft.) for the price but what it lacks in space it makes up for in views. The home has views from Puget Sound to the city skyline, port and beyond and wide windows capture the glorious spectacle. The greater part of the home is given over to a wide open space that incorporates the living room, kitchen, dining and lounge areas. This unit is on the top floor of an exclusive downtown high rise and an en suite stairway leads to a private terrace on the building's roof with a spa and grill. It is listed at $6.2 million and is available with or without the designer furnishings.

Gallery: The Citadel

Tags: condo, estate of the day, penthouse, seattle, seattle real estate, the citadel, washington, washington real estate

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Playboy Mansion Chicago Condo,Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Her'es where it all began, the first Playboy mansion on Chicago's Gold Coast, where you can now buy a condo that is up for sale. The Victorian-style mansion was built back in 1903 and designed by James Gamble Rogers for surgeon George Snow Isham. Playboy founder Hugh Hefner turned the home into the first Playboy mansion and used it for parties and events from 1959 until the mid-1970s when he decamped for Los Angeles. The company later leased the mansion to the Art Institute for student housing and in 1989 it was donated to the museum. But as Hef has found with his Holmby Hills mansion, upkeep is expensive. Struggling under the burden, the Art Institute sold it to developer Bruce Abrams in 1993. Abrams gutted the home and renovated it into seven separate units. Today's home is the only unit in the building that leads out to the property's garden and it has a private patio. The three-bedroom 3,900-square-foot unit has beautiful architectural details like ornate moldings, built-in shelving and curved archways. This slice of Playboy history is listed at $2.9 million.

[via Chicago Tribune]

Gallery: Chicago's Playboy Mansion Condo

Tags: chicago, condo, estate of the day, gold coast, hugh hefner, playboy

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Savannah Condos Up For Auction

by Rigel Celeste (RSS feed) —

Filed under: Estates, Auctions

Next month a group of luxury condos in the heart of the deep south, beautiful Savannah GA, will be going up for auction. There are 11 units total, 7 located at Jones Square in the Historic District and 4 at East Broad Place. The Jones group homes are rich in architectural details like 10 ft ceilings, decorative crown moldings, heart pine floors, luxury spa bathrooms, and private balconies while the East Board Place units have exposed brick walls, hardwood floors, and are conveniently located for access to islands, beaches, and the Savannah College of Art and Design.

The auction will take place on May 6h at Trustees' Garden at 10 E. Broad Street and according to National Auction Group 2 of the Jones Square properties are set to be sold regardless of price.

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Tags: auction, condo, condo auction, condos, georgia real estate, real estate, savannah

More Philadelphia Condos Up For Auction

by Rigel Celeste (RSS feed) —

Filed under: Auctions, Real Estate Developments

After a long and drawn out history of bad luck and bad timing the 10-unit condo project dubbed Cu257 in Philadelphia has finally been finished. Unfortunately the building took so long and went through so much turmoil on its way to completion that it missed its 'window' and interest in it has all but disappeared, leading the bank to put the nine remaining unsold units up for auction next month for a deep discount. The auction will take place at 1pm on May 15th at the Hilton Philadelphia Airport Hotel with minimum bids set at $200,000 for each of the two penthouses (previously listed for $1.2 million) and $95,000 for the 7 condos ($698,400-871,255). If interested sign up and get an information package at maxspann.com.

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Tags: auction, condo, condo auction, condominium, cu257 condo project, max spann, pennsylvania, philadelphia, real estate

Sabine On Fifth Complex, Eludes Foreclosure, Heads For Auction

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

More signs of condo fallout in Austin, Texas. A bunch of units from the Sabine on Fifth project will hit the auction block on February 28. The project, which is located in a 10-story former office building, escaped foreclosure after the owner CWS Capital Partners was given a loan extension. Auctioneer Kennedy Wilson will sell off 27 of the available 44 units (the building has 80 units total) with bids on one-bedroom units starting as low as $85,000 and two-bedroom starting at $195,000. The apartments were once listed near $204,900 and $550,000. Condo buyers will receive a one-year Tower Health Club and Spa membership and up to $1,500 in closing costs paid by the seller.

Tags: austin, condo, condo auction, CondoAuction, sabine on fifth, SabineOnFifth, texas

Tempe Condo Complex Faces Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

In 2006 I wrote that condo enthusiasm is alive and well in Tempe, Arizona "despite a market that is showing some serious instability." Allow me to eat those words, the project I wrote about as a sign of that enthusiasm, Centerpoint Condominiums, has now fallen into foreclosure. The concrete, glass and steel projected called for a pair of 30-story towers with around 800 units ranging in size from small studios to large penthouses. Amenities included a swimming pool, hot tub that has a sand beach entry, cabana bar, café and grocery store. Instead the project floundered and still awaits completion.

An auction date has been set for April. The property once owned by Tempe Land Co. could be sold to the highest bidder. According to the Arizona Republic, ML Manager LLC, acting on behalf of investors, filed for foreclosure and placed the unpaid principal of condo developer Tempe Land Co. LLC at $135 million.

This makes the second major Arizona development foreclosure in just a couple of weeks. Capmark Finance filed to foreclose on the High Street section of Phoenix's ambitious CityNorth project. CityNorth is a 144-acre development that was to be a network of neighborhoods with shops, cafes and parks amid the residential space. A foreclosure auction date for High Street is set for March 31.

Tags: arizona, centerpoint, citynorth, condo, condo foreclosure, CondoForeclosure, condominium, tempe

Banks Prepare To Seize Icon Brickell Condo Tower

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Miami has been one of the toughest condo real estate markets in the past few years but for the most part the luxury condos have had a little better time of it. But now the Wall Street Journal reports that one of Miami's most high-profile developments, the Icon Brickell is being taken over by a group of lenders led by HSBC Holdings PLC and Bank of America Corp. We wrote about the lavish project last September when we heard that Jennifer Lopez and Marc Anthony had purchased a unit in the building. The three-tower condominium designed by Philippe Starck is in a complex that includes the Viceroy Miami Hotel. Building amenities include multiple pools, a spa and fitness center, five restaurants, rooftop pool club, concierge and valet services. According to the WSJ article Related Group will remain the manager of the complex.

The project was completed last year but presales began in 2006 when south Florida real estate was at its height. Although many buyers put down deposits on the nearly all of the 1,800 condo units less than 200 sales have been completed. The article says that prices are now about 30 percent off the peak prices (now around $550,000 for a two-bedroom unit) but some buyers may still balk over the steep condo fees. The amenities are so lavish that maintenance in the building is equally expensive. For a look at what buyers get, check out tour images at Miami Condo Investments.

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Tags: condo, condominium, icon brickell, IconBrickell, miami, philippe starck, PhilippeStarck, related group, RelatedGroup, viceroy hotel, ViceroyHotel

Evo South Condo Development

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The South Park area of Los Angeles has been booming lately. The area is the site of the Los Angeles Convention Center, the Staples Center and the "L.A. Live" project. This summer the big news was that a major grocery store returned to the area, signaling the growing residential contingent. EVO is a high-rise residence building in the neighborhood and is the only LEED certified high rise residence in L.A. The property includes a pool and sun terrace, fitness studio and rooftop entertainment lounge with an outdoor fireplace. Many units have beautiful horizon and city views. The building also has concierge service, a 24-hour lobby attendant and four levels of secure parking.

The last of Evo's sale-priced residences went on sale earlier this month starting in the mid $300,000s. Generally the condominiums are priced from the low-$400,000s to $3.7 million and range from 730 to over 3,500 square feet. Residences feature hardwood floors and wood cabinetry, stainless steel appliances, large, operable windows, decks, Juliet balconies and walk-in closets

.

Gallery: EVO-South

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Tags: condo, condo project, CondoProject, downtown los angeles, DowntownLosAngeles, evo, evo-south, la live, LaLive, south park, SouthPark, staples center, StaplesCenter

Major Charlotte Construction Project Stalled

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Another condo project has stalled out. This one is in Charlotte, North Carolina. The VUE Charlotte is a 51-story uptown condo tower that recently stopped construction because the developer hasn't been paying the bills. The Charlotte Observer has an email to subcontractors from contractor R.J. Griffin & Co.'s senior project manager that says that Griffin had not been paid for work done in July and asks subcontractors to stop work. The $275-million-plus project is just one of many high-rise projects which sprouted up in uptown Charlotte over the past couple of years. Of around 20 projects announced only half a dozen have been completed others, have either been scrapped or halted mid-construction.

The developer says that between 55 and 60 percent of the tower's 409 units are under contract. Purchasers were expected to move in next summer. The building has a fitness area, wine cellar and an outdoor deck with a pool tennis court and dog-walking area. Units have been listed for between $319,000 and to over $2 million. The company must be pretty confident that the situation will be worked out. It is still planning a topping out party in September.

UPDATE: Debts have been paid and construction is set to resume on the project.

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Tags: charlotte, condo, condo project, CondoProject, vue

Las Vegas Penthouse, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Real estate isn't faring well in Las Vegas lately but loss often leads to opportunity. Case in point, this three-story penthouse in the Sky Las Vegas complex on the Strip. It was once listed at $10.3 million when it was published in Architectural Digest's Estates for Sale but that was a couple of years ago in a booming real estate market. Now it is listed at $2.99 million with Luxury Realty Group.

For your money you get approximately 5184 square feet of living space with four bedrooms and huge windows showcasing Strip views in two directions. The penthouse has two terraces, one with an outdoor kitchen and an outdoor hot tub. The condo also includes two wet bars; multiple ice makers, wine refrigerators and dishwashers; a home theatre and a home gym.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

Tags: condo, estate of the day, EstateOfTheDay, las vegas, LasVegas, luxury las vegas real estate, LuxuryLasVegasRealEstate, penthouse, sky las vegas, SkyLasVegas

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Auctions Scheduled For Condos In Disney Town

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The Disney-planned community of Celebration, Florida is the latest site of a condominium auction. The picture-perfect town seeks to replicate an idealized slice of small town American life but like most Florida towns it has become a victim of the real estate crisis. Now 27 condominium homes in the Artisan Park complex at Celebration which were once listed from prices of $480,000 to $600,000 will be auctioned off with suggested opening bid of just $95,000. The auction starts at 10 a.m on August 1 at the Celebration Hotel. Some units have a waterfront view and the complex includes a clubhouse with a swimming pool, cabana and restaurants all amid Celebration's cookie-cutter perfection.

[via The Ledger]

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Tags: celebration, celebration florida, CelebrationFlorida, condo, condo auction, CondoAuction, condominiums for sale, CondominiumsForSale, disney, florida

Tacoma, Washington Condo Project Facing Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The headline on the website for the Tacoma Esplenade condo project says "navigate a new life" but that life may be snagged up in foreclosure. The Tacoma News Tribune reports that the $80 million Tacoma, Washington waterfront condominium project is facing foreclosure by late August unless the developer can find new sources of funding. The project is a nine-story building with 162 units, just ten of which have been sold.None of the retail spaces have been rented. The project was part of a larger plan to revitalize the formerly industrial area with new housing and a hotel. The hotel never broke ground and that land is now for sale. The owners of the Esplenade have until August 21 to escape from foreclosure but it will be a challenge, partially because of the building's low occupancy rate which makes it hard to get funding.

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Tags: condo, condominium, tacoma, washington