3000 The Plaza---Good Buy??

NEW -> Contingent Buyer Assistance Program
<p>"Just look at Manhattan."</p>

<p>I have actually lived in Manhattan, right off Times Square. Loved it. However, I didn't drive a car once the entire time I lived there. I could walk, take the subway, or catch a cab anywhere I wanted to go. I lost a ton of weight due to all the exercise! The only area here in OC that comes close will be South Coast Metro. And even then the cab companies will need to step up to the plate a bit more or some serious shuttle services are in order.</p>

<p>I was excited at the prospect of the high-rises in Irvine, but when I asked the question "where would I walk to?" I didn't have an acceptable answer. If you still have to get in your car to go anywhere, especially your job, a high-rise isn't worth it IMO.</p>

<p> </p>
 
NIR,





usually i just smile when i read your posts. they can be entertaining and sometimes contain useful info, like when you mentioned the asking and transacted prices above. other times, i store your rebuttals in the back of my head, so when i deal with my own broker, i compare when she says to what you say, and tell myself, "wow, brokers really do go to the same schools to get their cliches..."





i am sure you are right that "people will feel the same in the future about these Marquee units". i am more sure that PEOPLE WILL FEEL BURNED <strong>IN THE PRESENT</strong> IF THEY BUY THERE NOW. so what's worth more to you - something that we are sure will happen right now, or something that we are sure will happen in the future?





and the reference to Manhattan is just ridiculous. we lived in a high rise in Manhattan and paid $500 a month in common charges. the building has a heated pool, a gym, a staff of 45 amongst the concierge, maintenance, healthclub departments. if you really want to talk up these hi rises, please tell us what you get for the $1000 hoa?
 
High rise living is a solution to satisfy the economic need of the buyers, the demand of over population in a restricted zone, and compensate for the high cost of the land where slab on grade products do not generate enough revenue to pay for the land.



Living in a high rise unfortunately is an illusive lifestyle painted by the marketers. People do not just drop everything and decided to live in a high rise because they want to experience a lifestyle. In major metropolitan cities high rise dwellers found convenience being in center of downtown and economic saving by not owning a car. A parking stall in these cities could cost upward to ½ a million dollars and through out the city finding a space is an hour chore around a 10 city blocks area. The agony of feeding the meters, parking citations, walking many blocks to the destination and the lost of time in gridlocks many found living in downtown high rises saved a lot of time. As a result, retailers and restaurants opened shops along the pedestrian route for prosperity. These old downtown cities skyscrapers were first erected in the late 1800’s. Single family residences were raved by early fires and rapid high rise demands during the turn of the 20<sup>th</sup> century. These cities discourage vehicular usage so their building ordinance promotes minimal parking requirement thus to maximize the land coverage. Land lock is another factor for developers to think about recycling of older buildings. The fabric of old and new structure adds interest to the cities along with the endless stream of pedestrians allowing many national and mom and pop’s retails to succeed



We here in Irvine landlords discourage mom and pop retails because they have bad taste in their signage and frequent turnovers. Many ethnic stores are doing quite well in old centers. Strict and high parking requirement is a city mandate so people will always drive. Pedestrian is a viewed as criminal here in Irvine. Cops often stop and question them. Without a high level of pedestrian activities, convenient vehicular ownership, lack of pedestrian oriented retail and restaurants, lacking interesting fabric of architectural mix-uses, lacking the planning of a downtown core, scattered cultural centers, absence of neighborhood identity markets, and abundance of other better housing opportunities and competitions high rise living is just a temporary mirage of dream to satisfy the cravings of a few individuals.
 
<p>OC is not Manhattan, never will be and down right insulting to Manhattanites. Yeah some big names have been buying these units but they are by no means the same as big names buying in Manhattan. I didn't see any Rockefellers, Carnegies or Kennedys buying there. Until I do I will know that true old money sees the value or not and not the new money.</p>

<p>And to think that the psychology of the Manhattan RE market is hot is so last spring. I think it was <a href="http://www.corcoran.com/aboutus/index.aspx?page=ManagerDetail&userid=PBM">Pamela of the Corcoran Group</a> who was just on CNBC who said that the market has died and pyschology was a major factor. Even those smart happy people in Manattan think that the market is overpriced.</p>
 
<p><em>"Without a high level of pedestrian activities, convenient vehicular ownership, lack of pedestrian oriented retail and restaurants, lacking interesting fabric of architectural mix-uses, lacking the planning of a downtown core, scattered cultural centers, absence of neighborhood identity markets, and abundance of other better housing opportunities and competitions high rise living is just a temporary mirage of dream to satisfy the cravings of a few individuals. "</em></p>

<p>I will say on behalf of all the owners/builders/bag holders of 3000 The Plaza and all the other OC high rises, "NOW you tell us BKSHPR!"</p>
 
<p>almon,</p>

<p>I am glad you " just smile" at my posts, at least it's entertaining. I am not sure that I would agree with you that we brokers go to the same school. We are all independent contractors.</p>

<p>As far as the hi-rise market, we do not have all the hi-rise living components in yet. I think another few years, things would look very different. At the Plaza, there will be a shopping center right ouside the door. Now, that is cool.</p>

<p>I must say IR's and Graphrix' tunes have quite parallel to reality. Perhaps these 2 guys/gals are re geniuses </p>
 
<p><em>At the Plaza, there will be a shopping center right ouside the door. Now, that is cool</em></p>

<p>Maybe. That happens to be the same plan as for the condo near 1st street in HB and I think Central Park west, A-Town and whatever they're calling the places over by MacArthur. (Heck, I can't even keep them straight)</p>

<p>The nice thing about the dense New York burroughs is the diversity. I'm not sure the planned downtown Disneyesque retail will translate.</p>

<p>My other concern, and this is the one that kept me from looking at them in the first place was the property tax and HOA are literally more or the same as rent. That's before mortgage...</p>

<p> </p>
 
<p>Wow, takes my breath away. Look at this view from the 17th floor one of the corner "penthouse" balconies.</p>

<p><a href="http://www.marqueeparkplace.com/viewdetail-west.asp?pln=g">http://www.marqueeparkplace.com/viewdetail-west.asp?pln=g</a></p>

<p>Oh, yeah baby, that South View, even better: <a href="http://www.marqueeparkplace.com/viewdetail-west.asp?pln=fs">http://www.marqueeparkplace.com/viewdetail-west.asp?pln=fs</a></p>

<p> </p>
 
<p>Well, maybe the South view looks better to you. Here's a delightful 6th floor view. <a href="http://www.marqueeparkplace.com/viewdetail-east.asp?pln=ds&lvl=6&view=s">http://www.marqueeparkplace.com/viewdetail-east.asp?pln=ds&lvl=6&view=s</a></p>

<p>On a Friday night, with the movie theatre letting out around mid-night, those city light views are going to be spectacular!</p>

<p>Or maybe Northeast. <a href="http://www.marqueeparkplace.com/viewdetail-east.asp?pln=dne&lvl=4&view=ne">http://www.marqueeparkplace.com/viewdetail-east.asp?pln=dne&lvl=4&view=ne</a></p>

<p>Mmm mmm good, can't you just smell that ru134a on those hot afternoons!</p>

<p> </p>
 
<p>It could be worse, I forget which condo downtown in San Diego it is, but they don't have enough parking because it's a conversion. Hence, in addition to you HOA, you get a money GVF. Garage Valet Fee. It's your choice. $200 for the valet for the month, or no parking...</p>

<p> </p>
 
<p>Just what I always wanted, a constant view of the ugliest building in Orange County... The Fluor Corp. tower.</p>

<p> </p>
 
<p>No_Such_Reality,</p>

<p>It is the Aqua Vista (Little Italy, San Diego). Lots of units are currently listed at much lower than they were during the peak. Some units have gone down by 100K if not more. </p>
 
<p>Here is the <a href="http://tinyurl.com/34yoca">zip link</a> for Daniel Sadek's place at Marquee. His desperation price is now $1.775mil and he bought in 06 for $1.65mil. After he pays off what he owes and the commission he isn't going to have much to pay down his marker in Vegas.</p>

<p>Well we know someone who isn't a RE genius.</p>
 
I have a feeling he may "disappear" before it gets sold. I just hope his restaurants don't close. The filet mignon kabobs are soooo good.
 
You must log in or register to reply here.
Back
Top