501 replies to this topic

[Mike K.]

[Mike K.]

It looks like Chard has dropped prices as the project is now being advertised as having "new lower prices."

[MarkoJ]

Only two units have sold so far this year and with 10 left that makes for a number of years of inventory.  Price adjustment would not be a surprise.  

[jklymak]

They are still around $650/sqft. Sounds over the top expensive to me.

[VicHockeyFan]

They are still around $650/sqft. Sounds over the top expensive to me.

 

Expensive compared to what?  To $500 sq./ft. in Gordon Head?  

[jklymak]

Compared to 6 year old places that go for $450/sqft downtown.

[MarkoJ]

The average asking per sq/ft price of the 10 units left is $769 and we throw out the $4.4 million penthouse we are sitting at $704 pr sq/ft.  

[VicHockeyFan]

There is a 4th floor courtyard-facing 2br 2ba 2-level loft unit at Hudson at 400/ft...  

[Greg]

There is a 4th floor courtyard-facing 2br 2ba 2-level loft unit at Hudson at 400/ft...  

 

 

Compared to 6 year old places that go for $450/sqft downtown.

 

Not all locations in downtown are equal. That is probably one factor.

[Mike K.]

I don't think I would be spending anywhere near $400/sq/ft for a courtyard facing unit at The Hudson. That project likely won't sell off its stock of condos for many years to come. Why would you spend hundreds of thousands of dollars to stare into a courtyard?

[VicHockeyFan]

I don't think I would be spending anywhere near $400/sq/ft for a courtyard facing unit at The Hudson. That project likely won't sell off its stock of condos for many years to come. Why would you spend hundreds of thousands of dollars to stare into a courtyard?

 

Oh ya, I see the only Sovereign suites left are 6th floor and above.  I wonder why they would not put the VIEW from each suite on the website?

 

http://www.thesovere...ca/suites/1003/

[Mike K.]

I spoke to a Chard rep about that once, regarding the views "from" the units. Apparently the photosgraphs do not do the view justice and buyers would focus on the rooftops of neighbouring buildings. But the impression buyers had when they actually looked out the window of the real thing was extremely positive. So I suppose they don't want to sour potential buyers with photos of a view that is far better in real life.

[VicHockeyFan]

I spoke to a Chard rep about that once, regarding the views "from" the units. Apparently the photosgraphs do not do the view justice and buyers would focus on the rooftops of neighbouring buildings. But the impression buyers had when they actually looked out the window of the real thing was extremely positive. So I suppose they don't want to sour potential buyers with photos of a view that is far better in real life.

 

Ya, it's always a balance I guess, with any real estate photography.  

[MarkoJ]

Unit #704 has just sold for 685k or $620 per square foot.  Unit #804 at one point, currently listed at 769k, was listed at 849k or $768 per square foot.

[MarkoJ]

Prices sliding a bit at the Sovereign...

 

Unit #501 reported sold October 28th, 2013 for $587,254.00

Unit #601 (same layout, floor higher), reported sold today (November 26th, 2014) for $545,700.00

 

5 units still left for sale.

[MarkoJ]

The penhouse just went to an out of town buyer for $3,178,000 (asking price $3,990,900).  

 

Another unit also sold last week for $1,235,000 last week.

 

With these two sales they are down to two left!

[MarkoJ]

With this sale there are now only two units left...

 

Edited by MarkoJ, 30 January 2015 - 12:05 PM.

[VicHockeyFan]

^

 Unit #804 at one point, currently listed at 769k, was listed at 849k or $768 per square foot.

 

OK, very good.  So this one you talked about back in July.  So it was once listed at $849,000 and sold today for $744,600.

 

1105 sq. ft. 2br 2ba, 1 parking stall.

 

Is there additional parking here Marko, for sale or rent?  I can't imagine most buyers only have one car.

[Greg]

A few units have two parking spots. And of lot of folks in the building have one (or no) cars. The building has specifically attracted people who want to live, work and enjoy downtown.

[VicHockeyFan]

A few units have two parking spots. And of lot of folks in the building have one (or no) cars. The building has specifically attracted people who want to live, work and enjoy downtown.

 

I know.  But I lived in a downtown 63-unit building with only 36 stalls.  Even mix of studio/1br/1+den and 2br.  Very few, if any of the 2br units were car-less.