Summit at Copper Square

310 S. 4th Street, Phoenix, AZ, 85003

Summit at Copper Square was the first modern high rise condominium built in downtown Phoenix (It's the 22 story yellow, blue and burnt orange high rise at 4th Street and Jackson, you can't miss it!).

Condos range in size from 898 sq. ft. to 1500 sq. ft. with 1 bed/1.5 bath to 2 bed + 3 baths. It has modern lines, bold contemporary colors, great floor plans and a fun location. The high rise condominiums in the twenty two story Summit at Copper were developed by W Developments (also developing Omega High Rise Condominiums, downtown Phoenix) and built by Weitz Construction.

Summit at Copper Square has 165 units of luxury high rise condominiums and lofts. It was originally billed as the tallest tower of residential high rise condominiums in metro Phoenix, but that honor will soon be taken from Summit at Copper Square once Centerpoint High Rise Condominiums in Tempe and 44 Monroe High Rise Condominiums in Downtown Phoenix are completed. Nonetheless, Summit at Copper Square offers magnificent views of midtown and downtown Phoenix, the South Valley, and distant views of the north and east Valley. Frankly, we think that Summit at Copper Square offers better views than either of the two high rise condominium towers mentioned above although her views pale in comparison to the views at Crystal Point High Rise Condominiums.

There are seven condos on the fifth floor (sharing the floor with the pool, fitness center, meeting room/lounge, and terrace), ten high rise condominiums on floors six through nineteen, and six Penthouse condos on each of floors twenty, twenty one and twenty two. Floors one through four house the parking garage and the front entrance to Summit at Copper Square.

NOTICE: there is something very unique about the parking at Summit at Copper Square; be sure to ask a WeKnowUrban agent about it!

There are many condos on the resale market at Summit at Copper Square and approximately fifty still offered by the developer. The high rise condominiums advertised for sale on the MLS range from the low $300k's to over $1.2 million (average of $470/square foot). In 2005 we first reported prices for Summit at Copper Square to be $415/square foot. So, prices have really appreciated right? Perhaps not. The vast majority of sales at Summit at Copper Square took place in 2004 and 2005, you know, during the downtown Phoenix real estate boom. We believe that 30 to 50% of Summit at Copper Square condos went to investors. If so, then price increases were due to speculation and may not hold up on the resale market. If this is the case then we expect to see downward pressure on prices as these high rise condominiums are delivered to their buyers. CALL US FOR MORE INFORMATION BEFORE BUYING.

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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Latest:

Low bid for 44 Monroe $12 million at auction April 14, 2010 Jennings, Strauss & Salmon
trustee. 190 units or $65,000 per unit.

#4 - John - 03/13/2010 - 13:42

Got a call from a guy yesterday who owns condos at Summit at Copper Square. He said that David Wallach, the developer of Summit at Copper Square, wishes to buy out the new note holder and maintain control of the high rise. Wallach is considering converting the remaining condos into "hotel rooms" because it is his belief that there is a shortage of such space in downtown Phoenix. If he accomplishes this I wonder how it will feel for the current condo residents? It might take the building to a higher level or it might be horrible to have hotel guests coming and going. Anyone have any experience in hotel/condo buildings?

#3 - Will Daly - 04/16/2009 - 09:06

UPDATE: The construction loan on the remaining 54 condos at Summit at Copper Square was recently purchased for about 47 cents on the dollar. The face value of the note (construction loan) was $23.14M but it sold for approximately $12M. This will allow the new holder of the note to potentially sell the high rise condos for a much lower price than was originally paid.

#2 - Will Daly - 04/14/2009 - 22:33

Vice President

I love the summit at copper square. I am looking for communities such as this. My company is nationwide and we help apartment,condominium,new developments who are in distress, raise there occupancy percentages in order to sell there communities or just raise their revenue. I would greatly appreciate the network connection.
(www.leasingextraordinaireinc.com)

Thank you.

#1 - Wayne Lezama - 04/08/2009 - 22:53

mrs. annie dieckbrader, CPhT

looking for a 2-3bdrm, 2bath.
thank you.

#0 - annie dieckbrader - 02/21/2009 - 21:44

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