With a leasing office that’s only been open for two weeks, a third (20+) of the sixty-seven (67) units formerly known as Esprit Park North (now “The Parc Esprit”) have been leased.
Rents for the remaining one-bedrooms range from $2,475 to $2,950 while the two-bedrooms range from $3,050 to $4,000. Esprit Park originally hit the market in 2007 with one-bedrooms in the South Court priced from the “Upper $600,000’s” and two-bedrooms from the “Mid $900,000’s” (from $549,000 seven months later).
Leases currently run eleven months (think Esprit Park CC&R’s) with expectations that the units will return to the for sale market in three to five years. And while the leases aren’t being written with an option to buy, leaseholders do get a first right of refusal.
In related Esprit Park news, all but six (6) of the seventy-five (75) condos in the South Court (900 Minnesota) are either closed or in contract (up from 38 closed or in contract a year ago).
Full Disclosure: The sales office for Esprit Park currently advertises on SocketSite but did not provide any compensation for – nor had any prior knowledge of – this post.
∙ Homes On Esprit Park (900 Minnesota): 26% Closed Or In Contract [SocketSite]
∙ Sales Office For Esprit Park (888 Minnesota) Opens Tomorrow (10/5) [SocketSite]
∙ Reader’s Reports: Homes On Esprit Park Now Starting From $549,000 [SocketSite]