I Can Buy A Condo At The Murano?

4 Jun

Oooh oooh, can I can I?! Seems I can, based on this Inky article:

Price break on luxury condos in striking glass tower in Center City. Best offers over $250,000 considered.

That’s the strategy for moving 40 of the 178 units still unsold at the Murano at 21st and Market Streets, to be sold at auction for sums 50 percent below their original list price later this month.

Take the 1,405-square-foot, 23d-floor unit originally listed at $995,000. It could go for $485,000, less than what it would cost to build today, said Jon Gollinger, president of Accelerated Marketing Partners, of Boston, which is handling the sale for Murano’s developer, Thomas Properties Group Inc.

Holy freakin’ crap.  The Murano is pure awesome-sauce, the condos are now dirt cheap, and the views are amazing.  How low can we go here folks? Basically as low as $250,000, because they just ain’t selling.  112 of 302 units have been closed on.  Seems we have a market correction in ours midst, where the overpriced condos are now going to be sold at their actual market value.  Yay for the lucky people who get these units, as well as other units throughout Center City. Be there June 27th.  Happy bidding!

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One Response to “I Can Buy A Condo At The Murano?”

  1. RickW June 5, 2009 at 10:31 am #

    This is unreal! I had no idea that many units went unsold in Murano. Wow! I have not been inside, but the views have to be great. And those views should be safe for a long time.

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