Echo Park Condos - The Sunset Five condos in Echo Park still up for grabs
Posted by Jenny Durling on Tuesday, March 09, 2010 at 3:34:41 PM By Jenny Durling / March 9, 2010 Comment
We haven't seen many newly constructed Echo Park Condos so the developers of the Sunset Five condo complex probably expected them to fly off the shelf. You many have read my post about the Sunset Five condos in Echo Park. I thought the units were over priced when they first came on the market, and 4 months later my opinion has not changed. Below is a chart of the Sunset Five Echo Park Condos showing their relative size and price changes since they came on the market in October of 2009.
As you can see from the last column, the price reductions have not been significant. These units were originally listed with Furstenberg Realty. From what I can see, there was nothing wrong with the agent or his marketing. Like so many sellers, the developer failed to see that the "problem" is NOT the listing agent, but the price. These Echo Park Condos were relisted just days ago with Deasy Penner & Partners as if listing the units with an agent that "specializes" in architectural properties will really convince buyers to pay more than they should! In my opinion, it's just another example of sellers having an inflated opinion of the value of their property. Don't get me wrong, Echo Park is a great place to live but this complex is not like the Sunset Silver Lake lofts with their great locations within walking distance of Sunset Junction and The Cheese Store of Silver Lake. These Echo Park condos are surrounded by some pretty shabby looking homes with a bus stop right in front. Sure, this section of Sunset Blvd may someday be the place for all things hip but you may have to wait a while.
If the idea of a newly constructed modern style Echo Park condo appeals to you, then by all means you should check out the Sunset Five units. They are open today and easy to show at your convenience so give me a call at 213-215-4758 if you'd like to take a look. These units are ripe for bigger price reductions so let me help you get the right price if you'd like to buy one. For more information on Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com Jenny Durling Broker Associate L.A. Property Solutions 213-215-4758 LApropertySolutions.com Copyright © 2010 By Jenny Durling *All Rights Reserved * Sunset Five Echo Park condos