Electra vs. The Grande

Posted on February 22, 2008 | by Denny Oh

ElectragrassOkso heres another update. I am NOT a big fan of Electra. Its a cool idea, but somewhere between Vancouver and San Diego, BOSA blew it. I still like the amenities and the fact that they preserved the SDG&E building, but aside from the 06 floor plans, what is there to like? I know Im being harsh, but thats my job. Im supposed to help my clients get what they

want and keep them from investing in a bad deal.

Do I think Electra is a waste of money? No, not necessarily. Again, I love the F plan, which are the 06 units. These face south east and have the most protected and pretty views in my mind. The 04 is ok, but you get less square footage and a weird den area, thats not very functional. Now, if you are looking at an 06, make sure you look at one without the den. Taking out the den opens up the unit and makes it livable.

Im sorry to all of you who bought other floor plans, but if you like it, thats all that matters. Everyone has their own likes and dislikes and these are my personal opinions(I just happen to have a blog that some people read).

If you are thinking about buying here, go for it! I dont think the building is terrible by any means “ its more so that Im disappointed BOSA didnt do a better job. Also, there will be a lot more units coming onto the market. This will drop prices here and you can get good deals “ just not from the developer. See, BOSA does so well, that they dont have any loanswhich means they dont have to drop prices to get rid of their inventory. Private owners however, who bought on speculation, are making some hefty monthly payments and might be more willing to negotiate.

*Click here to see a list of all the homes currently for sale at Electra.

Grande3901This brings us back to one of my favorite buildingsThe Grande. Yes, this is another BOSA community, but it happens to be a lot nicer. In my opinion(and yes I know Ive said it before), this is the most undervalued building Downtown “ period. Yes views will change and yes the train station is right at the bottom “ so what?!?! People love that its situated near public transportation. Just ask all the people from Arizona who are buying second homes out here. And if youre concerned about property values going down do to all the development there, why dont you ask Donald Bren what he thinks.

If you arent familiar with the name Donald Bren, how about the Irvine Company? According to Forbes magazine, Bren is the wealthiest real estate owner in America. Ill pause so you can try and comprehend that.

Whats he got to do with anything? Im glad you asked. See, the Irvine Company recently made history by purchasing the empty lot directly to the south of The Grande South(for $60 million!). Dont you think being neighbors with some of the most expensive real estate Downtown, might a good thing? What about the hundreds of millions of dollars going into the other lots around you? On top of this, BOSA owns several other lots along the Broadway corridor(read: BOSA has lots of money. They want to make more money. If I own in/around BOSA, I will make money. I should buy at The Grande).

And again, I am not in any way affiliated with BOSA. I dont get paid more if I sell you something that BOSA developed. I just want my clients to be happy with their investments, so they come back to me and thank me for getting them into such a great home.

*Click here to see a list of all the homes currently for sale at The Grande.

Id love to hear from those who own in these buildings, as well as those who are thinking about buying. My team and I currently have 5 listings at The Electra, with several more to come. We also have several listings at The Grande, including 3 penthouses.

Please feel free to contact me for more information on any of these listings, or any real estate related topics. [email protected] 858.243.2092

Other Must Reads:

The Grande South 3902
Electra “ BOSAs Newest High Rise
Whos Going to Block my Views?

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2 Comments

  1. Paul Bhola says:

    Have an 04 unit in Electra above the 20th floor….what do you think is a good sales price range?

    Paul

  2. Denny Oh says:

    Paul,

    Depending on the floor and upgrades, I think you’re looking at a range from just below $1million, up to around $1.1 million. Assuming you are referring to the standard ’04 units(floors 5-30), I think this is where you would need to be. Depending on how quickly you want to move your unit, I’d probably price it even lower, from the mid $900Ks to about $1,050,000 – again, depending on the floor and upgrades.

    It’s difficult to give an exact number without seeing the place or talking to you, but I think that’s your best bet.

    If you’d like to discuss this further, please call me at 858-243-2092, or [email protected]. Thanks.