blogdowntown 89.3 KPCC | Southern California Public Radio

Stay Connected

@blogdowntown on Twitter
blogdowntown on Facebook


 

Saturday is Sales Day for Downtown Condos

By Eric Richardson
Published: Tuesday, August 25, 2009, at 11:06PM
Rowan Sale Sticker Eric Richardson [Flickr]

A sticker advertising the Rowan Lofts weekend sales event is attached to the front page of the current issue of the Downtown News.

Whether by chance or design, Saturday is looking to be quite the sales day for Downtown condos.

Both Concerto and the Rowan Lofts are advertising one-day sales events for August 29. Concerto is looking to move 77 units in its low-rise loft building, while the Rowan is advertising deals on 16 studio and one-bedroom units.

Even more curiously, both projects are advertising the exact same pricing: studios from $219,000 and one-bedrooms from $279,000.

A slow real estate market and the general economic depression have forced condo projects to get creative in their sales efforts. The Rowan Lofts got a lot of press for an auction event it held on February 8, moving 63 of 97 units put up for bid.

That was a good percentage, but Concerto claims it will do even better. Ads for the sale say that "All 77 residences will be sold." The project's sales event is being run by Sold2U, a Bay Area real estate auction and marketing firm.

SHARE:

Tweet This Story || Share on Facebook

Related Stories: