Third Avenue Lofts, Scottsdale

7301 E. 3rd Avenue

Just off Downtown Scottsdale, Third Avenue Lofts offers upscale true loft style properties with a great Scottsdale address. Developed by Avenue Communities LLC in 2003 the property features underground parking, concierge service, resort style courtyard and pool area and cool hip urban loft homes with high ceilings and tons of glass. Living space ranges from 600 to over 2200 sq ft with ceilings as high as 18 ft in some units. Walking distance to the arts district in Downtown Scottsdale, Third Avenue Lofts offers great access to restaurants, shops, galleries and cafes.

Third Avenue Lofts was one of the first 'boom buildings' in the Valley and boy did we watch some pain. The first wave of buyers got a pretty good product for their dollars (even though prices seemed ridiculously high at the time). But many of them bought them to flip and the next wave of buyers got slaughtered. These folks paid $600 to 1000 per foot and ultimately walked away from their loans because they were so upside down. The good news is that since November 2007, we have seen a steady absorption of inventory, thanks to the low priced short sales and foreclosures, and the building seems to be stabilizing.

We're happy to see it as we really like the architecture, style and finishes in the building and although it's not easy walking distance from much it still has a great location and meets our definition of 'urban.'

To learn more about the fantastic condominiums at Third Avenue Lofts give us a call or shoot us an e-mail.