Last week was crazy. I was in Boston, DC and Alaska all within four days. So I missed posting the most popular condo. However, it’s been the same place the last two weeks, unit #4 at Leona. It’s the unit that has been reduced from $475,000 down to $295,000.
Truthfully, I’m a little surprised it hasn’t sold yet. It’s a corner unit, low $/sq. ft, Leona is a nice historic remodel, Viking, Subzero, two entrances… Do people not like the floor plan?
Popularity: 10% [?]
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1 ReFan // Apr 21, 2009 at 8:09 am
A few insights as to why Unit 4 Leona may have not yet sold…based on price and floorplan shown, we hurried to the Leona, mid slope QA Avenue and found the unit to be more of a studio not a 1 Br as floorplan indicates. Also shown on the floorplan is a second entry door leading to a balcony perhaps? But in actuality the door is a tiny window and there is no balcony or stairway or door at the location. Perhaps the floorplan shown was what the architect originally intended but the unit is not actually built as indicated on the floorplan. Other minor disappointments in the unit were noise from QA Avenue, view of the brick building and parking lot adjacent and no secured parking spot. The unit will be quite effective however in getting people in the door who will undoubtedly see other fantastic units available at the Leona which the developers are frankly, giving away. The prices have been slashed and there are significant bargains to be had if you have the cash or can obtain financing. Unit 4 is the most palatial studio we've seen as far as equipment and finishes go but it is alas, still a studio with an undesirable view and no parking. Several other units higher up in the building had nice city views and most come with 1 secured parking. Again, if I had the ability to buy there, I would in a NY minute.
2 ReFan // Apr 21, 2009 at 8:09 am
A few insights as to why Unit 4 Leona may have not yet sold…based on price and floorplan shown, we hurried to the Leona, mid slope QA Avenue and found the unit to be more of a studio not a 1 Br as floorplan indicates. Also shown on the floorplan is a second entry door leading to a balcony perhaps? But in actuality the door is a tiny window and there is no balcony or stairway or door at the location. Perhaps the floorplan shown was what the architect originally intended but the unit is not actually built as indicated on the floorplan. Other minor disappointments in the unit were noise from QA Avenue, view of the brick building and parking lot adjacent and no secured parking spot. The unit will be quite effective however in getting people in the door who will undoubtedly see other fantastic units available at the Leona which the developers are frankly, giving away. The prices have been slashed and there are significant bargains to be had if you have the cash or can obtain financing. Unit 4 is the most palatial studio we've seen as far as equipment and finishes go but it is alas, still a studio with an undesirable view and no parking. Several other units higher up in the building had nice city views and most come with 1 secured parking. Again, if I had the ability to buy there, I would in a NY minute.
3 seth // Apr 21, 2009 at 8:35 am
Parking is the big minus, lets not forget, parking in that neighborhood is murder and I assume they are asking a lot for the space.
4 seth // Apr 21, 2009 at 8:35 am
Parking is the big minus, lets not forget, parking in that neighborhood is murder and I assume they are asking a lot for the space.
5 ReFan // Apr 21, 2009 at 8:49 am
there is no parking space even available for purchase for Units 4, 5 or 6, parking garage is very limited at the Leona and only the higher up view units were assigned a space.
6 ReFan // Apr 21, 2009 at 8:49 am
there is no parking space even available for purchase for Units 4, 5 or 6, parking garage is very limited at the Leona and only the higher up view units were assigned a space.
7 Kevin Lisota // Apr 21, 2009 at 11:30 am
Matt,
Have you been in the Leona? #4, #5 and #6 have unusual floor plans. The bedroom is not an actual room, which I'm sure is preventing a sale on all three of those. #7 had a more “normal” floor plan and sold instantly after their price drop.
8 Kevin Lisota // Apr 21, 2009 at 11:30 am
Matt,
Have you been in the Leona? #4, #5 and #6 have unusual floor plans. The bedroom is not an actual room, which I'm sure is preventing a sale on all three of those. #7 had a more “normal” floor plan and sold instantly after their price drop.
9 mattgoyer // Apr 21, 2009 at 11:32 am
I was in Leona about a year ago and unfortunately don't have a strong recollection of the floor plans…
10 mattgoyer // Apr 21, 2009 at 11:32 am
I was in Leona about a year ago and unfortunately don't have a strong recollection of the floor plans…
11 Art Vandelay // Apr 21, 2009 at 7:42 pm
I toured Leona this weekend (with Redfin, of course) and agree with ReFan. By the way, Unit #13 seemed the best of the lot (and the most expensive, other than the three Brownstones and 2 Penthouses). It has gone off the MLS since the weekend. Matt, do you happen to know its status? Thanks.
12 Art Vandelay // Apr 21, 2009 at 7:42 pm
I toured Leona this weekend (with Redfin, of course) and agree with ReFan. By the way, Unit #13 seemed the best of the lot (and the most expensive, other than the three Brownstones and 2 Penthouses). It has gone off the MLS since the weekend. Matt, do you happen to know its status? Thanks.
13 mattgoyer // Apr 21, 2009 at 8:37 pm
I asked an agent here to look it up. #13 has gone pending (inspection).
14 mattgoyer // Apr 21, 2009 at 8:37 pm
I asked an agent here to look it up. #13 has gone pending (inspection).
15 Chris // Apr 23, 2009 at 10:15 am
Well, all told its about +/-$2200 per month payment for a glorified studio. I'm sure there are some people, even in this economy, with money to burn, but I suspect that its not a lot of people.
And it never should have been $400k+ to start with. That was a bubble number. $295k is about right relative to incomes and the premium buyer that this site can draw based on location.
16 Chris // Apr 23, 2009 at 10:15 am
Well, all told its about +/-$2200 per month payment for a glorified studio. I'm sure there are some people, even in this economy, with money to burn, but I suspect that its not a lot of people.
And it never should have been $400k+ to start with. That was a bubble number. $295k is about right relative to incomes and the premium buyer that this site can draw based on location.
17 condoboy // Apr 23, 2009 at 11:54 am
In my experience, condos with street access or ground level entry, tend not to sell well. My wife refuses to live in one and I assume she is not the only person whio feels that way. it is a safety issue, if you live in a downtown location with lots of pedestrian activity, it is comforting to know you live at least 10 feet above the street, or that your unit can only be accesed through common areas. That is NOT the case with this unit.
at mosler lofts and gallery, the street level units languished on the market FOREVER ( some still are). that is my 2 cents.
18 condoboy // Apr 23, 2009 at 11:54 am
In my experience, condos with street access or ground level entry, tend not to sell well. My wife refuses to live in one and I assume she is not the only person whio feels that way. it is a safety issue, if you live in a downtown location with lots of pedestrian activity, it is comforting to know you live at least 10 feet above the street, or that your unit can only be accesed through common areas. That is NOT the case with this unit.
at mosler lofts and gallery, the street level units languished on the market FOREVER ( some still are). that is my 2 cents.
19 Dante // Apr 29, 2009 at 1:24 pm
It's that there is no parking with his unit. It's a deal killer
20 Dante // Apr 29, 2009 at 8:24 pm
It's that there is no parking with his unit. It's a deal killer
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