Boutique Pre-Construction Condo. Newish Developer. Thoughts?

[Roy G Biv]

At $780/sq ft, I am paying for a sharply-designed, up-scale building. However, the elements which make this building a luxury building could all be dropped and not considered a material change. I am trying to get a real handle on the risk of:

- losing a balcony
- having the layout changed
- seeing the exterior cladding materials and design swapped for something cheaper
etc

The location is great, but that extra $50-$100 /sq ft is for the idea that this is a haute design luxury condo. If they decide to coat the building in orange EIFS, that concept is gone.

Thoughts? Is pre-construction with a relatively un-proven developer a bad idea?

 

[lead82]

That all depends on who the builder is. Boutique builders could be good. Have you seen their other properties?

$780/ sq ft seems high. I recently paid about $690 per sq for a similar luxury home by the boutique builder.

 

[Roy G Biv]

That all depends on who the builder is. Boutique builders could be good. Have you seen their other properties?

$780/ sq ft seems high. I recently paid about $690 per sq for a similar luxury home by the boutique builder.

They have done a couple of single homes, and are in pre-sale phase for another similar sized building. Basically, they don't have a lot to look at.

 

[lead82]

May I ask who the builder is?