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Jernigan

Brownstones at Thornton Park

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In the upper $500,000s, these will be some of the most expensive units in the downtown market. 

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The property will begin around $280/sf.  A unit at the Sanctuary just sold for $400/sf.  The interior build quality is FAR above most condos downtown and these are "fee simple" with far lower HOA fees.  This will certainly be on the high side of the immediate area but not far off from what is offered in Winter Park or Windermere.  Dollar for dollar, there is great value in a 2100-2300sf 3 story maintenance free downtown property.  

 

We have a pre-sale party later this month.  It will be interesting to see how many go to contract on day 1!

Edited by steve_o

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Why didn't you say so?  Let me put on my Scrooge McDuck 1920s swimsuit and swim in my vault for a few minutes!  The pocket change I collect during my swim will more than pay for it!

 

 

Hehehehe... all meant in good fun!  Still quite pricey, though.

Edited by HankStrong

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Still quite pricey, though.

 

This.  This.  My friend bought one of these in 2012 with the exact same design/layout/construction/etc in a hip part of Cleveland right off the light rail (Little Italy/University Circle) for 325.  With the market upturn since then, I anticipated 425-475, but UPPER 500s?  That's pretty high!

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It is what it is. I they don't sell they will lower the price. If they do, then great.

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Not very brownstoney looking to me.

 

Where's the brown & where's the stone?

 

Maybe they should have been called the Beige-painted-concretes.

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They are priced appropriately for the size. Try and find another unit in downtown at that price per square on the newer side. You do not have the amenities of the sanctuary but i am sure the HOA fees are dramatically lower. These may even be under priced. 

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It seems a bit high but there's always time/room to drop the price.  This kind of development is sorely needed downtown - townhomes (I guess if they are "urban" we're supposed to call them Brownstones?) of this size are a good way to keep those aging out of the the condo scene due to kids, family, etc in the downtown core.  I'd like to see more built on some of the smaller open lots

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They are priced appropriately for the size. Try and find another unit in downtown at that price per square on the newer side. You do not have the amenities of the sanctuary but i am sure the HOA fees are dramatically lower. These may even be under priced. 

 

The single best way to tell is whether they sell or not.

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They are priced appropriately for the size. Try and find another unit in downtown at that price per square on the newer side. You do not have the amenities of the sanctuary but i am sure the HOA fees are dramatically lower. These may even be under priced. 

Copley Square on Michigan is a very similar project that just completed.  It looks like they have their last upgraded 4 bedroom builder's model for $447,400, but in the past year many of the new units were selling closer to $350,000.

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Copley Square on Michigan is a very similar project that just completed.  It looks like they have their last upgraded 4 bedroom builder's model for $447,400, but in the past year many of the new units were selling closer to $350,000.

Unfortunately these examples are not even a little bit similar.  There are far more variables to think of than just curb appeal.  A townhouse project built by a national builder (builder grade) off Michigan is not in the same category as a Thornton Park project built by a custom builder using the same materials as many $1.5 million plus homes.  The kitchen appliances alone are over $20k.  

 

Example:

A 1700sf CUSTOM condo in Winter Park is currently for sale for $900k ($529/sf). HOA monthly fee is $641. Is it worth it?  Debatable but they sell. 

 

Point of my rant is location and build quality mean everything in real estate.  This same project would be half the price in Metro West and half again if build in Metro West by Ashton Woods (Copely Square). BTW - they would be double the price if walkable to Park Ave like the David Weekly built 2000sf town homes sharing a rear yard with train tracks starting at $637k.  

 

We'll see if they sell.  Initial demand is extremely strong but no cash has changed hands just yet!

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Oh, don't get me wrong.  I hope they sell.  They're going to be a great addition.  I'm just sad that I won't be owning one.

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Oh, don't get me wrong.  I hope they sell.  They're going to be a great addition.  I'm just sad that I won't be owning one.

 

Agreed.

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If the renderings are any indication, these will have major curb appeal.  Now if the city would finally buy the adjacent park space and turn that lot into a legitimate "Savannah-style" square / park, we'd have the makings of a beautiful neighborhood.

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If the renderings are any indication, these will have major curb appeal.  Now if the city would finally buy the adjacent park space and turn that lot into a legitimate "Savannah-style" square / park, we'd have the makings of a beautiful neighborhood.

Agree.  I heard that the City recently lost a lawsuit with the owner of the Constitution Green property.  Does anyone have any details about that?

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In the event you haven't seen the interior/roof top shots:

 

We all should be VERY excited about this.  It is the first project that is actually purchasable (for some) since 2007!!!  

 

post-333-0-41282500-1412873633_thumb.jpg

post-333-0-32747500-1412873640_thumb.jpg

post-333-0-75881100-1412873652_thumb.jpg

post-333-0-86585100-1412873663_thumb.jpg

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high 500's with no pool...hmmm...i need to do a comp to see how much a house with pool cost around that area before i can decide...

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drove by there just now.  chalk it up as yet another project officially U/C in downtown.  that's awesome.

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Unfortunately these examples are not even a little bit similar.  There are far more variables to think of than just curb appeal.  A townhouse project built by a national builder (builder grade) off Michigan is not in the same category as a Thornton Park project built by a custom builder using the same materials as many $1.5 million plus homes.  The kitchen appliances alone are over $20k.  

 

Example:

A 1700sf CUSTOM condo in Winter Park is currently for sale for $900k ($529/sf). HOA monthly fee is $641. Is it worth it?  Debatable but they sell. 

 

Point of my rant is location and build quality mean everything in real estate.  This same project would be half the price in Metro West and half again if build in Metro West by Ashton Woods (Copely Square). BTW - they would be double the price if walkable to Park Ave like the David Weekly built 2000sf town homes sharing a rear yard with train tracks starting at $637k.  

 

We'll see if they sell.  Initial demand is extremely strong but no cash has changed hands just yet!

Copley Square and these Brownstones are like comparing a 3 series to an M3. Both nice cars and will give you the same amount of space, but one is a lot more enjoyable. The interior finishes but mainly the location is what stands apart. And the new Copley units do not have a roof top deck. 

high 500's with no pool...hmmm...i need to do a comp with see how much a house with pool cost around that area before i can decide...

 

It is probably the same per square foot. If it is brand new, it may be a bit more. 

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I think these are more comparable to those across from Sodo on "miller street" I think. Those are around 300 with a gragae in-law suites. Do I want to pay 200K more for that location in south eola?

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The renderings are really great. Fixtures are so important. Build quality is SO important.

 

I have a lot of friends buying McMansions in the suburbs, and you can absolutely feel the mass production low quality in every aspect. The doors feel like they weigh mere ounces, and you'd swear the sink fixtures aren't metal, but plastic with brushed aluminum paint jobs. 

 

If the build quality and interiors are high quality, they're worth every penny of 500k. 

Edited by castorvx

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In the event you haven't seen the interior/roof top shots:

 

We all should be VERY excited about this.  It is the first project that is actually purchasable (for some) since 2007!!!  

 

You guys, the only thing wrong with this rooftop view is that it places the condos squarely on top of the fountain in Lake Eola.

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You guys, the only thing wrong with this rooftop view is that it places the condos squarely on top of the fountain in Lake Eola.

 

... and like 100 feet above the water. 

 

BREAKING: Brownstones at Thornton Park to have anti-gravity devices

 

Finally scooped Bungalower! HA!

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