Author Archives: Will Daly

44 Monroe is now renting!

February 23, 2011 – 9:34 pm

Last year, a private equity firm, ST Residential, purchased a large portfolio of distressed condos from the FDIC. Part of that portfolio included the remaining unsold units at the 44 Monroe high rise condo tower in downtown Phoenix. Near the end of the year, ST began marketing the condos for sale but for one reason [...]

Posted in High Rise Condos, Phoenix, Rentals, What's New | Comments (1)

Ten Wine Lofts Turning Rental

December 21, 2010 – 9:54 am

This won’t be a big surprise to anyone but it’s still relevant to this site/blog. Ten Wine Lofts, the urban condo community at roughly Osborn and Scottsdale Road has been converted to apartment rentals and is expected to be on the market in early 2011.  An investor purchased the community after the original developer and [...]

Posted in Hot Deals, Market Update, Rentals, Scottsdale, What's New | Comments (7)

Can a New Buyer Rent Out Summit at Copper Square?

December 14, 2010 – 5:30 pm

On December 1, 2010 the Phoenix Business Journal reported that the 75 unsold condos at Summit at Copper Square were “within days of being sold.”  Word is that the deal has fallen through. In the article two of my competitors mentioned that the best option for the unsold units was to rent them.  This led [...]

Posted in High Rise Condos, Phoenix, Trouble | Comments (9)

Landmark on Central Condos – Not So Hot

November 30, 2010 – 12:56 pm

We Know Urban Realty has been luke warm on Landmark on Central High Rise Condos for some time, largely due to reported problems with the infrastructure of the building. In fact, on our Landmark on Central info page we flat out say that we won’t represent people looking to buy there until they educate themselves [...]

Posted in High Rise Condos, Phoenix, Trouble | Comments (3)

44 Monroe Update

November 22, 2010 – 5:16 pm

Early this year Starwood Capital and partners purchased a portfolio of condominiums once valued at $4.5 billion from the FDIC which had taken over the assets from the failed Corus Bank. Now Starwood et al and the FDIC are partnering to sell off those condo communities under the name “ST”. One of the communities is [...]

Posted in High Rise Condos, Market Update, Phoenix | Comments (10)

$1300 Rental SPECIAL on Mill Avenue, Tempe

October 22, 2010 – 1:45 pm

Here’s a deal. The owner of a fantastic studio condo in the Orchidhouse Lofts in Tempe is offering monthly rent of $1300 per month (originally $1500) and will allow the security deposit to be paid over two months. This third floor studio with great views to the south toward ASU has exposed duct work and [...]

Posted in Uncategorized | Comments (6)

Cash is KING with These Condos

June 22, 2010 – 10:39 am

For the majority of the thirteen years that I have been a real estate agent, ‘cash’ buyers got no better concessions than a typical buyer who was getting a loan.  After all, in a normal market a pre-qualified/pre-approved borrower, working with a good lender, was ALMOST as good a risk as a buyer claiming to have [...]

Posted in Hot Deals, Tempe | Comments (25)

44 Monroe is Coming Back!

June 8, 2010 – 12:37 pm

About ten days ago, Starwood purchased the remaining 185 condominiums at 44 Monroe for approximately $10M.  We have not verified the sales price but IF that number is correct, and we believe it is, then Starwood got a smokin’ deal at approximately $54,000 per unit.  This is great news for Phoenix urban living in general and downtown Phoenix specifically. Prices [...]

Posted in High Rise Condos, Phoenix, What's New | Comments (13)

We Need A Rental Agent!

June 4, 2010 – 2:19 pm

Looking for a hard-working energetic agent to work with our ASU rental prospects.  We get any where from 40 to 75 rental requests every single week and we need help.  If you are interested in working with our ASU student leads then give me a call at (480) 510-8755 Ext 4.  Will Daly

Posted in What's New | Comments (1)

Lake Front Condo for $390,000!

May 10, 2010 – 1:22 pm

I just learned that a two bedroom, decked out, Edgewater at Hayden Ferry Lakeside condo with over 1600 square feet will be hitting the market at $390,000 very soon (no it’s not on the ground floor).  I’m not saying it’s a steal as it’s very tough to determine “market value” in today’s kooky real estate market but [...]

Posted in Tempe, What's New | Comments (16)
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