According to a source who recently visited the 360 sales center, the 44-story 430 unit is selling well and should sell out soon — many months ahead of its scheduled completion date. With 430 units, 360 is the largest of the current crop of developments, so a sell out would be a strong sign for the market.
The news is that 360 has sold approximately 378 of the planned 430 units. With 52 units remaining, 88% of units have been sold. Supposedly, most of the remaining units face East with the cheapest remaining 1 bedroom selling for $283K and the cheapest remaining 2 bedroom listed at $406,000. There are still 14 floor plans to choose from.
While sales are strong, the other side of the coin is that the first 75% of units supposedly sold in the first three weeks in he market in March. In the following 3.5 month, they have sold just another 13%. But, there is lots of time left to sell the remaining 52 units.
360 is unique in that it is well positioned, very tall, early to market, and attractively priced. It still remains to be seen how well the more expensive downtown projects will fare.
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