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Subject: Lofts at 707 Tenth Downtown

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Brian
Posts:2242

07/16/2008 12:01 PM	Alert
I hear that that are offering 2 free months rent on a 14 months lease, with free 6 months parking. I believe that rents will begin to drop this winter. Time will tell.... 707 10th Loft info http://www.707tenth.com/ Website

jspoto
Posts:218

07/16/2008 12:57 PM	Alert
did you look at the SQ of these units. It is like living in a closet. 1 bedroom at 530 sq ft; 2 bedrooms at 852 sq feet is a joke. No wonder they cant rent them.

ScottSD
Posts:162

07/16/2008 1:37 PM	Alert
that's normal sized in some cities, surprisingly. i have a friend looking for a condo in downtown seattle and you basically can't find a 2 br with more than 950 sqft. i guess that's a major benefit to downtown san diego being complete crap until recently. there's plenty of room to develop so we get bigger places.

stella
Posts:360

08/03/2008 12:17 PM	Alert
Posted By Brian on 07/16/2008 12:01 PM I hear that that are offering 2 free months rent on a 14 months lease, with free 6 months parking. I believe that rents will begin to drop this winter. Time will tell.... 707 10th Loft info http://www.707tenth.com/ Website It is normal for a rental complex to offer a few months free rent. It's been this way for as long as I remember. The monthly rental price will be very high and this is way to compensate. I think that they can then claim that their units are X amount to their investors even though there is a rebate associated. It may also be a marketing gimmick. I of course always just do the math. This does hurt though if when the lease is over you want to stay as suddenly you're stuck paying the high rate.

wilson
Posts:566

08/03/2008 12:29 PM	Alert
There will not typically be larger condo units built. The costs of construction are climbing quickly. When (not if) the market recovers, the costs of those units will have to be competitive with the existing inventory. There will be more of a market for the low end and typical-sized units (like 850 2 bdrm) with a smaller market for the high end (like there always has been).

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