Luna Condos (Concord CityPlace) - Real Estate -

T

thx1038

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The tower phase at Luna will be named, LUNA VISTA.

Many Incentives for buyers who want to get in early. Only 10% downpayment till closing. And you can flip before closing.

Furthermore, it is rumored beginning next block, CityPlace prices will be over $400 a square foot.

Owner Li Ka Shing, has sold his shares. Concord is now owned by the Hui Family.
en.wikipedia.org/wiki/Li_Ka_Shing
 
I recall they were selling the first phases around 250-260 a square foot way back in 1999-2000. Wow, what 6.5 years does.
 
Makes sense that prices would rise obviously with increased construction costs, but I imagine at the beginning it was trying to get people to buy into an area bordering on train tracks, with no retail and, would continue to be a construction zone for the next 10 years. Just my opinion.
 
^ Certainly would make me think twice before buying in this market if developers are now allowing you to sell before closing.
 
I don't think it is cooling off. This was the same incentive CityPlace gave during the Luna Villa Launch. Remember the pictures, so many people, the building sold out in a day.

This is the least desireable part of the land, I think they just want to moveforward to the next block and then to Signiture, which will do very, very well. Rumor is they have a waiting list for the waiting list!

1038.
 
Correction, YOU CAN"T FLIP BEFORE CONSTRUCTION.

Here are the exact incentives,,,


The bonuses on JUNE 27 (ONE DAY ONLY) are:

1) preview pricing
2) a $5,000 gift voucher for furniture or $3,000 off the first deposit
3) Deposit: 5% on signing the agreement, 5% in 120 days and 15% on occupancy (Nov. 2008)
4) small units can buy parking. After Jun 27 only 1BR+den can buy parking.
5) you can also assign the agreement of purchase & sale from interim occupancy date up to 3 weeks before final closing
 
Hi Thx1038,

What do you mean by "This is the least desireable part of the land"? Just curious, is there some issue with that part of the development?
 
Being able to assign your purchase of agreement and sale, is the same as being able to flip your unit before closing ... This is a common practise at city place, this is something that investors look for, and cityplace targets investors ...

Other builders around the city will also allow you to add this clause to your agreement as well, it is not usually offered, but is easily negotiable ... sometimes with a fee if you chose to use the option and assign your agreement.
 
5) you can also assign the agreement of purchase & sale from interim occupancy date up to 3 weeks before final closing
Click to expand...

Pardon my ignorance, but what does this mean?

That's quite an appealing deposit structure.
 
That means you can sell your agreement to buy a unit to someone else. Very common transaction.
 
Hi Thx1038,

What do you mean by "This is the least desirable part of the land"? Just curious, is there some issue with that part of the development?
Click to expand...

Don't get me wrong, this is prime real estate. But compared to HVE, OPtima right beside the Skydome, Martix + Apex on Front, Montage above the grocery store, TO ME, this seems the least desirable.
 
Here is a picture of the floor plate.... Can there be only one set stairs?

lunafloorplate.jpg
 
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