Do you think getting a condo at concerto lofts in downtown LA is a good idea?
Concerto is having a sale soon, but I heard bad things about the developer and his management company.
I am very interested in hearing the answers to this. I just went and looked at all the half finished units. I am not sure what others are talking about as very nice, etc. I saw the workers putting together the cabinets and splitting the laminates. It’s not very nice at all. Plus they make you pay the HOA fees even though you have no access to amenities until January plus they can review and decide to raise them each month. Also, the towers are not set to be finished until 2011 according to the sales associate so you have to live through a YEAR of construction which makes me think the amenities will not be ready until then as well. Plus they would not tell me how much the units are, just where they will start which makes the $300 per square ft for the 1st floor I would think. Plus the sales person informed me that there would be no bargaining. The price is set. Either you sign the contract or they move on to the next person. Downtown condo builders need to wake up…its still downtown…there are TONS of empty condos just sitting there and condo owners risk depreciation when the rest of their building becomes "lease" because they can’t sell all the units. EVO is a great example…swore up and down…no leasing. Refused to reduce their prices and now they are leasing. Too bad for the other owners in the building. There shouldn’t be anything in downtown under the 7th floor for more than $250 per square foot…seriously. Add insult to injury…if you fall out of escrow even though you are not allowed any contigencies…they keep 3% of the purchase price which is your deposit. Very disappointing.
I am very interested in hearing the answers to this. I just went and looked at all the half finished units. I am not sure what others are talking about as very nice, etc. I saw the workers putting together the cabinets and splitting the laminates. It’s not very nice at all. Plus they make you pay the HOA fees even though you have no access to amenities until January plus they can review and decide to raise them each month. Also, the towers are not set to be finished until 2011 according to the sales associate so you have to live through a YEAR of construction which makes me think the amenities will not be ready until then as well. Plus they would not tell me how much the units are, just where they will start which makes the $300 per square ft for the 1st floor I would think. Plus the sales person informed me that there would be no bargaining. The price is set. Either you sign the contract or they move on to the next person. Downtown condo builders need to wake up…its still downtown…there are TONS of empty condos just sitting there and condo owners risk depreciation when the rest of their building becomes "lease" because they can’t sell all the units. EVO is a great example…swore up and down…no leasing. Refused to reduce their prices and now they are leasing. Too bad for the other owners in the building. There shouldn’t be anything in downtown under the 7th floor for more than $250 per square foot…seriously. Add insult to injury…if you fall out of escrow even though you are not allowed any contigencies…they keep 3% of the purchase price which is your deposit. Very disappointing.
References :
Walked into Concerto Sales Office.