Unusual Best Buy in the Luxury Market

Recently stumbled upon a “Best Buy”, it is a high end condo listed at $2.9 million. The monthly taxes and fees total $5,675. The reason why it is a best buy because of the following:

1. It is has 4,286 sq. ft of living space and is in excellent condition.
2. It is one of two true penthouses in the building with its own private elevator.
3. The other true penthouse at 4,607 which is comparable it is listed at $ $4.98 million
4. The two true penthouses are on the top floor, 38. There is a double unit Penthouse on the 35th floor which has 5,359 square feet of living space. It is listed for $4.6 million.
5. Then there are two other units on the 35th floor one at 3,111 square feet, the other at 3,225 square feet listed at $2.55 million and $2.695 million respectively.

To find comparables that have sold in the pass year is very difficult. The only properties that come close were sold in late 2008 and early 2009. They were penthouses or luxury condos that sold on high floors. There were a total of four in all:

1. 1,981 square feet for $3.3 million
2. 1,981 square feet for $3.67 million
3. 2,222 square feet for $3.8 million
4. 2,574 square feet for 4.9 million

With these comparative results one can see why the $2.9 million example is considered a “Best Buy”. If you would like any more detail regarding this article or if you interested in viewing any of the properties please do not hesitate to me, Abron Toure 503 475 6872, Mahalo.


Abron Toure Passion, Performance, Persistence http://dos-n-donts.realtors.officelive.com Realtor Associate 503 475 6872 Cellular