Metropolis - The Numbers Are Out

Those of you who are privy to the highly anticipated Metropolis development have been inquiring about pricing, and rightly so. But pricing wasn't available until now. With floorplans and features being solidified as we speak, these are luxury condos are expected to rival the Residences at the Ritz Carlton, but with even more amenities according to inside sources.

Prices for the first phase will begin in the low $500s and go up to around $3MM for the penthouses. Even though there's still time until completion (ETA is 2016!), the interest has been through the roof with hundreds on the waitlist, deposits and all. Waitlisters get first dibs on the floorplan/unit among other perks, and of course the deposit is refundable if you don't move forward. Send me an email if you'd like to get on the waitlist or to find out more about the Metropolis: yuri@sartparker.com.

UPDATE: 40% RESERVED - Getting In Early on a New Development - Metropolis

Look around downtown and see if you can count the number of new construction sites. There's a lot. Among all the development, there are about 5000 residential units to come on the market in the next 2-5 years. Among them, only a fraction (not even 10%!) will be condos/lofts that you can purchase. The rest are slated to be rentals. Because of this low inventory of condo housing, developments such as the new phase of Barker Block and Beacon Lofts sold out within a couple of months. And despite the steady increase in value of condos in downtown since the crash, many homeowners aren't selling because they see this as just the beginning of where DTLA should be.

This is why it's so important to get in early on new developments. You not only have first dibs on the choice units in a building, but can often have the pick of the litter on upgrades, parking spaces and even get financing incentives. The latest project underway is Metropolis, which is a luxury highrise condo/hotel/retail complex that will change the skyline of downtown. Units will range from 510sf studios to 2600sf split level Penthouses. Pricing TBD. Early registration is key, so email me if you'd like to get on the list for advance information. Some renderings below, and the site where grading is well in the works.