Condo Deal at Metropolitan – Own at the Omni Hotel

Posted on December 3, 2008 | by Denny Oh

OmniDid you know that you could live at the Omni Hotel here in Downtown San Diego?  Built by JMI Realty, the Omni Hotel sits right next to Petco Park, in the heart of the Gaslamp District.

For those who want the benefits of living in a hotel, but also want the comfort of being in your own home, the Metropolitan is your answer.  This 37 unit community sits on the top 10 floors of the Omni Hotel and provide incredible views. This particular deal is probably the best deal youll ever see in the Metropolitan.  With recent sales as high as $2.2 million(Feb. 08), an asking price of $1,395,000 is something you should look at. This 26th floor unit is a short sale and should go quickly.

The owner purchased it for $2,150,000 back in May of 2006 and needs to get out.  To give you an idea of what a great deal this is, the lowest priced sale(in the MLS) in the building to date, was for $1,490,00 back in 2005.  This sale was the same exact unit, but three floors lower!  The Metropolitan has its own private entrance with concierge and all the typical amenities youd expect in a luxury condo highrise.  You also get to lounge at your own private pool, which hotel guests do not have access to.  And if you want room service, just call.

In my opinion, a cash buyer will get this condo for about $1.3 million “ an incredible deal.  With 1,584 square feet, in an exclusive building, on the 26th floor, $820/sqft is a pretty great price “ especially when the average sales price per square foot is $1,023(over the past year).

My guess is that this condo goes into escrow before the end of the year.  Call me if youre interested in this deal, or any others.  This isn’t my listing, but I think it’s a great deal.

Denny Oh 858“243“2092 [email protected]

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  1. Keahi Pelayo says:

    As always, your comments are always dead on.