Forte 100% Spoken For!
Well, that was crazy quick! The unsold units at the Forte condo on Ashland, which were transferred from developer to lender this summer and then put back on the market at massively reduced prices in November, are now all either sold or in contract. Adam Pacelli, the lead Corcoran broker for the building, says that…
Well, that was crazy quick! The unsold units at the Forte condo on Ashland, which were transferred from developer to lender this summer and then put back on the market at massively reduced prices in November, are now all either sold or in contract. Adam Pacelli, the lead Corcoran broker for the building, says that six of the units available for sale have closed, 52 are in contract, and the remainder have pending contracts. Pacelli says Corcoran inherited 70 units to sell. (Streeteasy records confirm the numbers save for one condo the site says still isn’t in contract.) When the condo went back on the market, most units were priced around $500 a foot. Surprised?
Forte Reboot Priced to Sell [Brownstoner] GMAP
Forte Officially Goes Back to the Bank [Brownstoner]
Clarett, Goldman Lose Control of Forté [Brownstoner]
Whenever I walk by that building, it looks crooked to me. It must be the triangle shape…. but even the ancient Greeks knew about this optical illusion stuff and adjusted the shape of the Parthenon.
Greetings from San Jose!
Clearly theere is a market for new construction that is not reflected in the Brownstoner threads. Be it the Forte or the towers on 4th Ave, they are all trashed here, and then a few months later there is a follow-up post announcing that the development is sold out.
This news makes the situation of the Elan all the more peculiar. IMO this is one of the better new buildings that has gone up, yet it is not moving.
Gemini: what are you doing to discourage sales there;-) ?
I’ve been. The windows have child locks screwed in. They are easily removed, but is scary to have such a large opening .
Not surprising at all. In fact they probably could have gotten $550/SF if they wanted to move them just a tad slower. For years this building was overpriced. I believe it opened at a little over $750/SF. If they had actually come out the gate at something between $600 and $650/Sf in 2007, they would have had a successful project on their hands and we would have had way fewer Frownstoner posts about this building. Instead, because of developer and bank greed, this building is now entrenched in everyone’s mind as a failure. Remember a couple of months ago when someone kept on insisting that prices were going to have to drop to $300/SF in order to unload these? Whoever that was should come on this thread and own up to it. If you’re gonna make a ridiculous claim like that, you should have the balls to own up to it and offer a mea culpa when you get proven so drastically wrong.
quote:
most don’t open that wide where you can stick head out and sling water balloons at the pedestrians
that sucks. i hope those people who bought knew about that demenity ahead of time!
*rob*
gem, I know first hand none went for under ask, some went for over. A friend of mine is in contract right now for one of the units and after the price reduction, they were going like hotcakes. She had to offer ask since about 5 units in her line went into contract in 2 days after the reduction at ask or a little above ask.
just enough to toss eggs on dogs
seriously, this is good news for downtown corridor and surrounding nabes
Rob, these windows don’t open up & down. you crank it open – ie it opens out like a door. but most don’t open that wide where you can stick head out and sling water balloons at the pedestrians
question about buildings like this… some new construction seem to have windows that dont open. how do people get fresh air? i cant live without my windows open 24/7 even in zero degree weather. is fresh air pumped in thru ducts? that doesnt sound fresh to me
*rob*