Downtown Phoenix...right in the mix!

[HX_Guy]

Thank you to Gump for this photo, I hope they don't mind the repost.



What an awesome photo of downtown! Probably one of the best I've ever seen. Why is it so great? It shows how downtown really is right in the mix of things.
When ever we see a photo of downtown, everything looks so spread out but when you're there, it doesn't feel that way...and this photo really shows that.

Image with CityScape there in the middle as well? Also, you can see the tower crane for the ASU dorms, which at 161', will make a decent impace considering the Arizona Republic building (also seen in the picture on the right edge) stands at 124'.

Again, great photo by Gump. This should be used as a promotional photo by Summit. Hell if I had the money, this shot definitely sold me on it.

[Vicelord John]

What are units running at Summit?

[PHX602]

That's an awesome shot. Imagine once CityScape gets going.

[Don B.]

That is a kickin' photo.

I believe one bedrooms are about $250,000 for a low floor, and higher floors/more space will cost you more. I'd bet the two bedroom + loft units on the top two floors (1,550 square feet) will set you back at least $700,000 or more.

Then let's talk about the monthly in fees and taxes. Usually, the monthly HOA fees are about the same as the square footage, so a 1,500 square foot unit will cost you about $1,500 per month. Then your property taxes are double or triple that of a single-family home. I've seen $6,000 to $18,000 per year - which in Arizona is insanity - for various high-rise units like Crystal Point, The Residences at 2211 E. Camelback and Artisan Lofts. Best show up with a phat wallet...

--don

[Vicelord John]

ahhh but for Crystal Pointe it'd be worth every penny

[loftlovr]

Don-
You're usually correct in your Real Estate assessments- but....

Without looking in to the HOA fee at The Summit-
I would venture to say it would run about $5-600 a month on a 1500 sf unit.

The highest HOA fees go in Phoenix is at the Esplanade, 2211 building, Edgewater... they run about 80 cents a square foot.

Most are more like 30-50 cents a square foot.

For example, I live in Camelview Village and the HOA fee for my 1200 sf unit is about $380 a month.... now, granted there will be 700 units upon build out- which helps keep the fees down- but there's also a 20,000 sf fitness center and a ton of landscaping, steam rooms, fountains everywhere....

[Don B.]

^ Ahh, but how many buyers are sucked in with lower numbers that suddenly skyrocket? I think this happened at Orpheum Lofts.

Even 50 cents a foot is obscene for HOA fees. Our HOA fees (for a gated neighborhood) run a few hundred bucks a year, something like .6 cents per foot. Even if you add in the cost of landscaping, our own private pool and spa expenses, etc., you are still at less than $100 per month.

I realize elevators are expensive but something's still out of whack here.

--don

[oliveurban]

Great picture indeed.

[pablosan]

Looks great.

[Summit_Living]

Originally Posted by Don B.

That is a kickin' photo.

I believe one bedrooms are about $250,000 for a low floor, and higher floors/more space will cost you more. I'd bet the two bedroom + loft units on the top two floors (1,550 square feet) will set you back at least $700,000 or more.

--don

I just took at look at my old price sheets. From April 2005, the 1990 sf unit on the 21st floor was listed at $965,000. From April of this year there were only 1 br units available. The 900 sf ones were around $450,000 and the 1075 sf ones were running $470,000 to $540,000. With the exception of one unit on the 8th floor, the rest are located between the 11th and 19th floors.