I have a 1 bedroom 1 bath unit above the 40th floor, with a balcony, aproximately [sic] 750sqft(not including balcony) reserved in the highly sought after 08 stack(which is the a corner facing Downtown and the Waterfront). My reserve price is $870k, but 1)developer has raised them $60k 2)you probably could not even get this stack because they are all reserved 3)if you go through sales office, you must owner occupy for at least 1yr, but this one is grandfathered because reserved early.
I am asking $920k, or best offer for my unit. We would sign purchase agreement together and close escrow, from which I’d quit claim off title.
Loophole? Anomaly? Trend? This is going to get interesting. And we can hear the lawyers scrambling from here…
UPDATE: The craigslist post has been updated [thanks John]. Don’t worry, the unit in the 08 stack is still available, but apparently 04 and 05 stack units have been added to the flippers inventory as well.
∙ Comments: The Infinity: A Study In Contrast [SocketSite]
∙ $920000 – 1BR w/Water Views and Balcony at One Rincon Hill [craigslist]