Arris Again
Up to Neighborhood Discussion
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[quote]Originally posted by swankyfeline on Apr 10, 2006 1:15 pm GMT-5:
or CL's parking garage...
[/quote]
Nah, I have a nice car in there.. you can look at it all you want.
Jake
or CL's parking garage...
[/quote]
Nah, I have a nice car in there.. you can look at it all you want.
Jake
Interesting point about the website. I can provide a little insight/two cents worth on one man's story. I was in the sales office on day 1 and put a hold on an 865 sf studio for $515K. That day, it was listed on the website for $515. The next day, it was listed on the website for $540K. It stayed that way all week during which I decided not to buy. The day after I declined and returned the offering plan to Arris, the apt was no longer listed at all on their site. So, either one of two things happened ...
1. Someone else may have had second dibs on it and swooped in and bought it for $540, signed the contract, etc the same day I returned the plan (which is possible, I guess); or
2. They took it off their site and will add it back at some later date, making it look like it is no longer available.
Either way, there's really no way of knowing what or how many have been sold. Interest is certainly very high at this time though.
I also find it very interesting how wild the variances are on price per sf for similar apartments with similar views. I wonder how they're determining their pricing.
1. Someone else may have had second dibs on it and swooped in and bought it for $540, signed the contract, etc the same day I returned the plan (which is possible, I guess); or
2. They took it off their site and will add it back at some later date, making it look like it is no longer available.
Either way, there's really no way of knowing what or how many have been sold. Interest is certainly very high at this time though.
I also find it very interesting how wild the variances are on price per sf for similar apartments with similar views. I wonder how they're determining their pricing.
Its the (perceived) demand that is driving the prices.
The interest is high and it seems that they may be playing around (e.g. rotating the available/unavailable apts) to foster the demand more, since i had a similar experience as dglucks. The afternoon of the day I took a contract out, the price of the apartment was raised (which makes some people think, wow, i better buy it soon). And the day after i returned the contract, the apartment was removed from the website (either it was sold right away or they removed it to make it appear it was).
If you think about it, who would sign a contract the day they take it out if they have a few days or a week to review the offering plan, etc.
The interest is high and it seems that they may be playing around (e.g. rotating the available/unavailable apts) to foster the demand more, since i had a similar experience as dglucks. The afternoon of the day I took a contract out, the price of the apartment was raised (which makes some people think, wow, i better buy it soon). And the day after i returned the contract, the apartment was removed from the website (either it was sold right away or they removed it to make it appear it was).
If you think about it, who would sign a contract the day they take it out if they have a few days or a week to review the offering plan, etc.
Has anyone noticed that Arris Lofts sometimes uses "cubic feet" on the website when giving unit dimensions?
"Live within your means". Demand drives prices, meaning it won't become affordable unless you folks stop believing you can afford those kinds of ill-conceived condos with poor construction and yet inflated sales prices. 5-10% down now means being straddled with $500,000K+ of DEBT. Maybe 4-5 years ago the equity potential of this place would justify the flipability but I can't see these apartments selling for any more than what the builders are now asking for.
My girlfriend is an architect with some insider information after speaking with the subcontractor for Arris during an onsite visit. Basically the "airport grade" windows advertised to dampen noise is nothing more than the regular double-pane tempered glass used in most windows in any modern home. Take that into consideration before falling for the hype.
Arris may be a unique project, but given it's precarious location to so much transit traffic and lack of neighborhood amenities, you'd feel stranded in a commercial zone at nights rather than some other parts of LIC that is more residential and safer to walk in. That's just my opinion, to each their own preferences and tastes.
My girlfriend is an architect with some insider information after speaking with the subcontractor for Arris during an onsite visit. Basically the "airport grade" windows advertised to dampen noise is nothing more than the regular double-pane tempered glass used in most windows in any modern home. Take that into consideration before falling for the hype.
Arris may be a unique project, but given it's precarious location to so much transit traffic and lack of neighborhood amenities, you'd feel stranded in a commercial zone at nights rather than some other parts of LIC that is more residential and safer to walk in. That's just my opinion, to each their own preferences and tastes.