According to the sales office there are only six new condos left to be sold at The Hayes (55 Page). And there are only two units currently listed for sale on the MLS (one of which is a two-bedroom penthouse re-sale asking $998,000 or $665 per square foot).
UPDATE: A bit of plugged-in insight on the aforementioned penthouse unit:
This unit shown is/was also listed for rent. I checked it out and while very nice, I didn’t like that the whole place is carpeted. Owner/agent said it was previously rented to a banking couple who had lost their jobs and moved to Sac. Said they had been paying over $5000 for rent, then was listed at $4500 when I saw it, and recently saw it listed at $4200 I think.
Now asking for $4,000.
∙ Listing: 55 Page #820 (2/2) 1,500 sqft – $998,000 [MLS]
∙ Magnificent Penthouse w/excellent city view [Craigslist]
Well, they had about 50 units unsold in Oct 2007, so it looks like they’ve averaged about 2.5 sales/month over the past year and a half. Not sure how many of those sales occurred after the price cuts late last year.
It’s a great location. Also if any high-rise advocates are reading this, I’d like to promote this type of development as an alternative providing a lot of density and compatible with the feel of existing neighborhood – unlike high-rises, no matter how cleverly designed.
I bet there are more than 6 still available, and there will be a ton of resales in the next year.
Any word on which 6 are left and at what prices?
This unit shown is/was also listed for rent. I checked it out and while very nice, I didn’t like that the whole place is carpeted. Owner/agent said it was previously rented to a banking couple who had lost their jobs and moved to Sac. Said they had been paying over $5000 for rent, then was listed at $4500 when I saw it, and recently saw it listed at $4200 I think.
[Editor’s Note: Now asking for $4,000.]
That’s a quick 20% drop from over $5K to $4K and still advertising. Falling rents are going to cause a lot of pain for wannabe real estate tycoons that were sold “investment” properties over the past few years.
My problem with the Hayes is 1) lack of closet/storage space; 2) all electric kitchen and heat; & 3) lower quality finishes. I did like the exterior and some of the unit floor plans.
And now there are 4, with the first 3 buyers getting dining certificates to Zuni. Sorry 4th buyer, you get screwed!
The status on this one is now “withdrawn” — s’up?
According to the sales office, those last six units have sold and The Hayes is now officially sold out. Cheers.