12-20-2016, 10:41 AM
(12-11-2016, 08:20 PM)tomh009 Wrote:(12-11-2016, 02:10 PM)MidTowner Wrote: I fall somewhere in between you and MacBerry, who says he'd be surprised if they got $400,000. They're asking $570,000- that does seem ridiculous to me. But I've seen places in this part of the town which are in less than stellar shape go for over $400,000, and there has to be a premium for brand new construction with 21st century features. Usually, when you buy in a neighbourhood like this, you're getting something that has been adapted by potentially ten or twenty owners using various generations of technology, and I understand why some people may not be interested in that.
These are about 2000 sq ft, and apparently being built with high-end features. Certainly if you compare to a larger condo unit (even a new townhouse condo unit such as 144 Park) the price tag doesn't look so bad.
I think they are pushing the envelope $570K, but I do believe they will be able to sell these for over $500K.
Agree completely.
New construction in a central, established neighbourhood will always carry a premium. In fact, my wife and I bought something similar a couple of years ago. We looked around at houses in the neighbourhood and what they were going for, crunched the renovation costs and decided that even if you renovate, you're left with a house that is 75+ years old and all that comes with it. Tough to put a price on a new home warranty and modern construction standards/layouts.