Grande South 2805 Deal Update

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Grande South 2805 Deal Update

July 16th, 2008 categories: Deals, The Grande

Grandebalcony Back in February, I mentioned a deal in the Grande South tower, on the 28^th floor. This unit is a 2 bedroom plus den condo, that has 2 full baths and 1,625 square feet of space. This is a short sale and to make a long story short, I think the bank is finally getting close to approving a sales price.

* If you’re not intereted in the details, skip this paragraph. See, there is a first and a second loan and a few months ago, the first was sold to another bank. This caused the new bank to do a new appraisal and then by the time that was done, the second said that they needed to redo their appraisal because it was done several months ago. Now…both lenders are close to giving us their bottom lines, so we can move forward and sell this place.

Here’s a quick rundown as to why this is an incredible deal…

The unit directly above it with the same exact floor plan, sold for $1,299,000 last September.
A unit on the 13th floor(15 floors lower!) that’s slight larger, sold for $990,000 last December.
Unit 1805, the same unit 10 floor lower, sold for $1,100,000 last November.
This is The Grande.

In addition to these comps, keep in mind that you literally have hundreds of millions of dollars in development at your doorstep. The Columbia District is going to skyrocket in value as new buildings come up around it. If you don’t believe me, believe Donald Bren.

Call me when you’re ready to put an offer in.