Chateaux on Central

6 W. Palm Lane, Phoenix, AZ, 85003

Chateaux on Central is a 21 unit, gated, brownstone style, luxury attached single family home community reminiscent of high end areas in Boston, or Chicago, or New York. It was purchased out of the Mortgages Ltd foreclosure (you might remember that Mortgages Ltd was one of the largest lenders in town until the boom busted) by MSI West Investment LLC. Chateaux are all brick and masonry with turn of the 20th Century style. Each is five stories tall with 2 private, attached, surface level parking spaces. Each brownstone comes with its own private hydraulic elevator. Some models include a private dining terrace, roof top terrace, fireplace, BBQ and more.

Six of the floor plans range from 5,192 to 5,757 square feet and one has 8,252 square feet. All floor plans are zoned residential with mixed use on two levels. Some of the brownstones are completely move-in ready while others are at the drywall stage thereby offering the opportunity for customization. Prices range from $1.1 to 1.5M with the largest unit running $2.46 million. They are also an easy walk to a light rail stop and the Phoenix Art Museum, Heard Museum, Phoenix Library and more.

Prices originally started at $1.8M before MSI Investment purchased them and we are happy to see the drop and the renewed activity at the community.

The agents of WKU recently toured the property. Give us a call to get our opinion/feedback on the property or to arrange a tour. We'll give you the straight scoop and represent you best interests.

If you would like to learn more, see floor plans or a site map, or tour the site, give us a call or shoot us an e-mail and we’ll take care of you.

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Comments

I love this place and its the most beautiful place but it very expensive and with economy this is still a very high price and this isnt something a middle class can afford and ts designed for high class people which unfortunatly means its not for me (even though its the best place ever)

#19 - kare - 08/25/2011 - 22:35

Designer

I like to know more about the floor plan. I may be able to help to design or offer turnkey package.
Thank you,
Fari Momeni
480-522-8564

#18 - Fari Momeni - 06/27/2011 - 13:34

Floor plans

I need floor plans to your largest units please.

#17 - Andre Guice - 02/14/2011 - 12:34

Would like a floor plan sent.

Sincerely

#16 - Iris Hedrick - 12/12/2010 - 19:14

Owner of We Know Urban Realty

Peter - Chateaux on Central should be coming back onto the market in the not too distant future. Are you looking to buy or simply a fan of great architecture?

#15 - Will Daly - 07/12/2010 - 19:55

These residences are way under priced at 1.2-2mil. I have been in them and they are unbelievable!!!

#14 - Peter Batten - 07/10/2010 - 04:34

Please send me floorplans

#13 - Luciania - 06/11/2010 - 10:14

Owner of WeKnowUrban

In case you haven't heard, MSI Investments purchased Chateaux on Central for $7M or about $330,000 per unit. The origingal construction loan was $65M so the purchase price equalled less than 11 cents on each original dollar ($7M/65 = .1076). Remember asking prices STARTED at $1.8M each. One would expect to see significantly lower asking prices once the new owner puts them on the market.

#12 - Will Daly - 04/12/2010 - 09:25

Owner of WeKnowUrban

Ryan - You should contact Michael Fitzpatrick at 480 510-8755 ext 1. He should have current info. W

#11 - Will Daly - 02/26/2010 - 15:27

Chateaux

I made the previous post about the change in ownership...but has anybody heard anything on this project? I have always been interested in getting one of these condos.

I work for the ad company that used to do pr for mortgages ltd, so i knew a little bit of what was going on then. but now it seems all info has stopped!

#10 - Ryan Jensen - 02/26/2010 - 07:43

Chateaux

I do know that the property has changed ownership (finally), so I don't think it will take a full year to see things happening..., more like a few months.

I heard that the starting price is significantly less...like 1.2M instead of the $2.15M, but $235/sqft still seems high though

#9 - Ryan - 01/25/2010 - 09:15

Owner of WeKnowUrban

Rob - No I don't expect anything to happen at Chateaux on Central for at least a year. Of course there's no way for me to know that for sure but in light of all the trouble with the construction lender I can't imagine sales there for a year or longer. W

#8 - Will Daly - 01/13/2010 - 17:34

Will - you think any of these units will go anytime soon? Would love to see some activity at this site. I sure wish I could afford one!

#7 - rob - 01/13/2010 - 11:07

Owner of WeKnowUrban

Johanna - Just curious, what do you think Chateaux on Central units should sell for on a cost per foot basis?

#6 - Will Daly - 12/21/2009 - 08:26

I love the look of the building and all it\'s amenities, but $421.00 a square foot is outrageous!

#5 - Johanna Ott - 12/20/2009 - 20:46

Kaayla - It may not be fair to say that greed was the reason that the prices were so high. After all if "greed" were the problem then that would mean that the high prices were mostly profit. And if that were the case then now that the developer is bankrupt and pretty much out of the picture the prices could come way down because the former developer's greedy huge profits would be out of the picture right? The prices are so high because the land was expensive, the development was built when construction prices were really high, the design of the town homes is really complex (which is what makes them looks so fantastic) but really expensive to build, AND the individual homes are very large which also makes them expensive. There is no doubt that greed exists in this worls and manifests itself in many ways. However, to simply say that the high prices at Chateaux on Central were a product of greed is not fair in my opinion.

#4 - Will Daly - 10/12/2009 - 08:39

older student

I drive by this structure going to Phoenix College twice a week. I take this route simply to see the townhomes because I absolutely love the architecture. I'm from back east and can appreciate this look. It's unfortunate the price tag was so high for each unit. Reasonably priced, these would have sold in a heartbeat. Greed is an evil thing. I would love to look inside if you ever do a tour.

#3 - Kaayla - 10/09/2009 - 21:55

very nice property are they still avail

#2 - dawna - 07/12/2009 - 20:48

I am looking for something for a single mom with two kids(boy and girl). I would need three bedrooms/two baths. I cannot afford $2500 a month but am wondering what deals you could offer for something on the smaller side. Also, do you have a pool and a place to work out? I work at St.Joe\'s Hospital and am also wondering if you give discounts like many condos do.
Thank you!

#1 - Carolyn Long - 04/07/2009 - 09:24

ASU Student - Housing & Community Development

The story is very interesting and sad at the same time. I love the look. We are working on a project for class and would appreciate a tour of the site as well a site map. Any financial data would be greatly beneficial as well. Thank you for your time.

#0 - Alice Cornelius - 02/03/2009 - 20:51

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