John Ross condos sell out
Portland Business Journal - by Wendy , Culverwell
Date: Monday, December 20, 2010, 4:08pm PST
Unit 1316 is sold.
It took more than three years, but the South Waterfront's John Ross condominiums has at long last sold its final unit. Unit 1316, a studio with 636 square feet, sweeping views of the Willamette River and an asking price of $179,000, sold this week, according to the brokers selling units in the glitzy tower.
Realty Trust said in November that Unit 1316 was the only unit left and predicted it would be gone within a few weeks. Principals Todd Prendergast and Patrick Clark announced the final sale Monday afternoon.
The John Ross, 3601 S.W. River Parkway, was the South Waterfront's second residential project. The 31-story building offered 303 condominiums. Gerding Edlen Development Co. and Williams & Dame Development opened the $130 million project in March 2007. After a strong start, sales stalled as demand for condominiums evaporated.
An auction organized by the lender resulted in 47 sales in April, leaving 28 units unsold.
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