Originally Posted by giamomj
Anyone seen any rough pricing fro 1 - 2 BR condos at BVT? If the pricing points are below $350K, that would see a lot of condos. Of course, that may not be cost-effective.
Yeah, that would be great wouldn't it? But not even remotely possible. With the cost of new construction so incredibly high, the $700K pricing actually seems right in line with the configurations of the building. They'd be hard-pressed to get by with asking anything less. It's just a different buyer than a typical Philadelphian. To us, this seems high, but to outsiders, it's a drop in the bucket. I remember when everyone was giddy about 1919 Market and all those supposedly cheap, $250K, 1,000+ s.f. units that were gonna sell out and beat the pants off Murano, Ritz and Symphony. Yeah, didn't happen. Those plans were tossed out the window when the price of concrete doubled, so there you have it. If you're lookin for a bargain, go low-ball someone desperate to sell because they need to move or somethin...just ain't gonna happen in new construction. I bought a unit in the American Loft and now the least expensive 1BR there is $430K!!! There just isn't a lot of new construction rising out of the ground, and where there is, it's costing these developers a whole lot-o-cash to build, so the numbers have to work out before they'll start diggin...period. It sure would be awesome for NoLibs and my property value if they build this thing. Anybody know how much a parking spot will cost over there? I read somewhere that they're gonna sell spaces to outsiders...