Concerto Says Saturday Sale Sold Out
DOWNTOWN LOS ANGELES — Concerto's heavily-hyped Saturday sale for 77 loft units was a success, the developer tells Curbed L.A. The blog cites Sonny Astani as saying that units averaged $375 per square foot, and that the project had 550 pre-qualified buyers.
The units sold were in the project's low-rise loft building, which faces Flower street. The 30-story main tower has 271 additional units. Those units are said to be going on sale in October.
Vanzant on August 31, 2009, at 11:31PM – #1
Surprising..I would like to know what defines "pre qualified". I dont think that means an approved loan, but I could be wrong. They may be trying to hype the sale of the hi rise portion next month.
Simon on September 01, 2009, at 10:41AM – #2
I wouldn't be surprised if they are lying about how many units were sold. I've been lied to pretty much every time I've gone to see a new condo project for sale - The Mercury and Roosevelt to name a few.
If it's true, That's great for this neighborhood. Hopefully Meruelo Maddux building across the street does well also. I wish them success.
Jon on September 01, 2009, at 11:45AM – #3
Someone on Curbed posted a link to a Redfin message board that discussed the events on the day of sale. Sounds like the units did in fact sell out, but at what cost to Concerto's/Astani's reputation? A lot of unhappy campers, which might not bode well for the tower (sales start in October?).
Vero Queero on September 01, 2009, at 08:55PM – #4
Technically, they're probably not lying but they won't tell you how many Sonny bought himself.
Truth Advisor on September 02, 2009, at 09:35AM – #5
I doubt the disclosed that the units that did sell are made of wood; not concrete and steel as the highrise. Consequently the buyer's are getting a much lowever grade product that is likely to "settle" in a few years. Think VERO; another Astani project.
Mt Ek on September 07, 2009, at 06:30AM – #6
i went there 3 weeks ago i think its great project and superb location ,sales skills baddd
nanorich on October 01, 2009, at 07:15AM – #7
http://www.ladowntownnews.com/articles/2009/09/22/news/doc4ab9703644aed166287884.txt
The Concerto is now in Chapter 11 Bankruptcy, which puts all the sales heralded here in limbo.