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 on the problems in the building.
The issues that we had been concerned with were rumors of electrical and air conditioning problems. Now Fox News is reporting that residents are suffering with no heat in the building due to two broken boilers.
We say it all the time, hire an experienced and knowledgeable real estate agent. I think the issues at Landmark on Central drive that point home.
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 44 Monroe a 34 story high rise condo building in downtown Phoenix. We expect prices at 44 Monroe to start at $200 per square foot. This price point seems to make sense since it is approximately 10% lower than prices at One Lexington (formerly Century Plaza) which has been selling relatively well since March 2010 with starting prices at about $225 per square foot. Reportedly One Lexington has sold 55 condos in that time. Not bad at all for a “down” market. Such sales at One Lexington lead us to think that $200 per square foot at 44 Monroe should be well received.
Although “price” is extremely important we recognize that floor plans, amenities, location, and more play a very important role in every buyers decision. This is where you need an independent agent like We Know Urban Realty on your side, to help you assess pluses and minuses of the building as compared to its competition.
Pluses:
44 Monroe is in a great location in downtown Phoenix within easy walking distance of Chase Baseball Field, US Airways Basketball Arena, Orpheum, Herberger and Dodge Theaters, the new convention center, light rail, Cityscape and much much more.
Views at 44 Monroe are pretty good with either expansive vistas of the city from afar or close views of surrounding buildings.
I like that starting sales prices are about 30% less than what it would cost to build the building today. Buying at less than replacement value is great.
We like the general look of 44 Monroe with it’s bluish gray glass and contemporary styling.
Minuses:
There are definitely things to be aware of in this building BEFORE you visit it. To learn more, give me a call at 602 989-6788.
August 9, 2007 – 10:45 pm
Opus West, which had its plans for a mixed-use development project on the southeast corner of Camelback Road and 44th Street shot down at the July 10 meeting of the Camelback East Village Planning Committee, has decided to renegotiate with neighbors and delay meeting with the Phoenix Planning Commission until September.
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