If you are an active reader of my blog, then you will know my obsession with 925 North Genesee in West Hollywood. I think they are some of the slickest and highest quality new construction condos on the market. For the next two Saturdays, I will be holding the project open from 2pm-5pm. If you haven’t had a chance to see them, please stop by and say hi! If you’ve already seen them, I definitely recommend a revisit. I know every project on the market and at the right price, I truly feel this is one of the best in terms of craftsmanship, “the wow factor”, finishes, attention to detail, and livability. I’m not even the listing agent , but wanted to hold them open because they excite me so much (not in that way, get your mind out of the gutter). Since I’ve recently blogged about them in the last 6 weeks or so (which is my second post on the building), here’s the recap with another recap inside that:
I try to keep an objective eye when I look at property, but I can’t help but gush about this specific new development project that has been on the market for quite some time. A little known secret (or possibly a widely known one depending on who you are talking to) is that often when a new condo project hits the market, the developers (or we agents) create a tiered pricing matrix when assessing value to a particular unit or project. As I might have blogged about before, the simplest ways to break these pricing levels down are as follows: 1) Developer’s are in dream world and it is never going to happen 2) Prices have been reduced to a point where there is now interest from the public, but the numbers are still too far from the actual market value that nobody is going to write an offer 3) Prices are at market level and deals are being made 4) It’s a firesale, baby – the developer’s are absolutely desperate and need to sell ASAP or they are in serious financial peril. When you see a unit that is impeccably done, well thought out, and has substantial quality behind it, know that most likely the developer has put their blood sweat and tears into the place. Obviously the name of the game is making money, but similar to most private sellers putting their homes on the market, their is certainly amount of emotion involved and developers are no exception.
The exciting news about Genesee is that now the developer’s are motivated to make deals happen and sell the building out quickly. These are the moments that buyers who have been circling (a term I use for someone who is interested, but is just waiting for the numbers to hit the sweet spot before striking) have been waiting for. There are 4 units in the building starting at $899,000 (just reduced $100,000) for a stunning, dramatic 2 br/2.5 ba unit with floor to ceiling windows and a unique sunken kitchen to a penthouse with explosive city views/massive outdoor area to soak in the city for $1,089,000 (I would definitely imagine there is room to negotiate). For you rich kids out there looking for a potentially amazing deal on extraordinary property, give me a call. Below is my blog review of this building being a Hot Prop from when I saw the project for the first time and still stands true:
925 Genesee marries uber cool chic with high quality materials and manages to achieve something often lacking in many new construction projects - a very usable, well flowing floor plan. I was blown away when I walked through the door of these town homes last week. Featuring dark espresso hardwood floors, floor to ceiling windows, a massive living room, and gourmet kitchen, every room in these residences is meant to impress (and does so quite nicely). One feature that I have not often seen is contrasting hardwood floors in the lux master and guest bathrooms. As I had mentioned, the floors throughout the unit are dark espresso, but the bathroom floors have a very light colored pine-ish wood creating a striking aesthetic.
925 North Genesee Ave, Units 1-4, West Hollywood, CA 90046 – 2br/2.5ba – Ranging Roughly from 1865-2273 sq ft – $899,000 – $1,089,000
THE HOLLY VIEWS. THE ENTERTAINER’S DREAM. A MASTER DESIGN IN LUXURY & COMFORT. FEATURING AN OUTDOOR GAZEBO/DECK W/WD FLRING & BREATH TAKING VIEW OF LA – THE HOLLYWOOD SIGN & DOWNTOWN TO THE WEST SIDE. THIS DREAM RESIDENCE HAS A 40 FOOT BALCONY FACING THE HOLLYWOOD SIGN ABOVE LUSH GREEN MAPLE TREES. WIRED FOR SOUND, HD TELEVISION AND SATELLITE IS THE ENTERTAINER’S PARADISE. WALK FROM YOUR MSTR BDR TO THE GAZEBO, BE INSPIRED BY THE MAGNIFICENT VWS. BOSCH SS APPL’S, CUSTOM GERMAN DESIGN KITCHEN. Listed by Lydia Simon Coldwell Banker Malibu Colony