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Edge Condominiums At 311 Pierce St.


YakuzaIce

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  • 2 months later...
  • 1 month later...

Good News (if this has not been posted yet)

The Edge will NOT be a lease building, and will have units for sale.

http://har.com/search/engine/indexdetail.c...=0&backButton=Y

This unit is going for like 355,000, though...

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  • 1 month later...
$355,000? What happened to the "$150,000 and up" prices they quoted when they announced the thing?

  Yeesh. And I was looking forward to it as a potential buyer. But I can only go to about $170,000 or so.

I was thinking the same thing. At $355k, the price is $240 per square foot. That is pretty darn high if you ask me. I am sure the maintenance fees will be at least $400-$500 a month. That makes principle, interest and HOA about $2100 per month (assuming 80% LTV at 5.5%). Escrow in your taxes and you are lucky to be right under $3000 per month. OUCH.

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Yeah, that's a mess.

The Houston Condo market as a whole is a mess. Not only is Houston not a condo-city, but it is certainly not a high end condo city. AFter a certain price point, most people will simply buy a single family home.

And, people that CAN afford $355,000 for a condo are more likely to buy in River Oaks or another solid, established neighborhood that they know has re-sale value.

The only way Condos will work in Midtown is if they lower the prices. That way, people like myself - who actualy WANT the urban experience - can afford to live there.

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Calm down everyone... that link took us to one listing for ONE of the units in the Edge complex.  When one takes the 10 seconds required to look further, one finds that there are units listed starting at $144,500.

OK then, what is the size of the $150k unit. I would assume it would be 800-900 SF. Still not worth it to me. Of course I like space.

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