You are here: Home / Condos / Downtown / Madison Tower / $6.5 Million Price Reduction at Madison Towers

$6.5 Million Price Reduction at Madison Towers

August 11, 2009 By 5 Comments

Wow, this is one major price reduction. #2101 has been dropped from $8.7 to $2.2 mil. It’s come down from a high of being listed at $13.5 mil in October 2008. Note that it originally sold for $1.6 in October 2006 and then immediately put on the market.

28193248 1 1 $6.5 Million Price Reduction at Madison Towers

appraisals1398 19 $6.5 Million Price Reduction at Madison Towers

Current average appraisal:

$1,995,214

You must have JavaScript enabled to submit an appraisal.

Filed Under: Madison Tower Views: 634
About Matt

Matt , Urbnlivn's publisher, has a love for lofts with industrial features and new construction condos that is only eclipsed by his passion for outdoor sports and urban living. Phrases such as “polished concrete” and “exposed brick” are music to his ears. You can also find Matt on Twitter or skiing.

  • Birdy

    I believe this was listed by a well known speculator who was trying to sell adjacent condo's on the 21st floor at Madison Towers as one large penthouse style residence, and is now listing just a single unit at the same address, hence the massive price drop.

    OTOH this is the same realtor who has had three speculative units at the non-existent 1012 1st Ave development listed on the MLS for over a year. Maybe he just likes messing with your head Matt?

    I've heard that nobody can get a mortgage approved for Madison Towers because it's a hotel development like Olive 8. If you look at the listings, one of the sellers is offering to finance a sale themselves.

  • EconE

    So if it had been originally listed for a billion dollars, that would make it the largest price drop in the history of the world at $997,800,000.00.

    If it had originally been listed for a Trillion dollars, it would probably qualify for some of those sweet sweet TARP funds.

  • springstreet

    It isn't just that unit! Although the realtor listing agent must be a little unethical (has removed the square footage), unit 2104 was listed at $679,000 just last month (about 890 sq. ft.), and now is listed at $549,000 – but with no square footage. Still ridiculous sq. ft. prices.

  • EconE

    So if it had been originally listed for a billion dollars, that would make it the largest price drop in the history of the world at $997,800,000.00.

    If it had originally been listed for a Trillion dollars, it would probably qualify for some of those sweet sweet TARP funds.

  • springstreet

    It isn't just that unit! Although the realtor listing agent must be a little unethical (has removed the square footage), unit 2104 was listed at $679,000 just last month (about 890 sq. ft.), and now is listed at $549,000 – but with no square footage. Still ridiculous sq. ft. prices.