REAL ESTATE
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3000 The Plaza in Irvine sees 19 sales in 2 months
Number includes 4 in the past week.
By Kristen SchottPublished: October 21, 2009 10:04 AM
Nineteen condominiums have been sold over the past two months at 3000 The Plaza in Irvine, four of which were bought up in the last week.
The 105-home tower was acquired by Scottsdale, Az.-based Geoffrey Edmunds & Associates earlier this year, after Opus West, a partner in the project, filed for Chapter 11 bankruptcy protection. At the time of the transaction, 50 units had been sold. The recent deals bring the developer that much closer to reaching its goal of selling all the units.
“3000 The Plaza is special; it’s one of the finest housing opportunities I’ve ever been associated with,” says Geoffrey Edmunds, founder of the company.
What's more, it's a good sign for the housing market, according to Mark Boud, president of Real Estate Economics in Irvine.
"Prices have fallen to levels that are beginning to stimulate sales," he says, "and it reflects the continued potential for low-maintenance, highly amenitized living."
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The 105-home tower was acquired by Scottsdale, Az.-based Geoffrey Edmunds & Associates earlier this year, after Opus West, a partner in the project, filed for Chapter 11 bankruptcy protection. At the time of the transaction, 50 units had been sold. The recent deals bring the developer that much closer to reaching its goal of selling all the units. “3000 The Plaza is special; it’s one of the finest housing opportunities I’ve ever been associated with,” says Geoffrey Edmunds, founder of the company. What's more, it's a good sign for the housing market, according to Mark Boud, president of Real Estate Economics in Irvine. "Prices have fallen to levels that are beginning to stimulate sales," he says, "and it reflects the continued potential for low-maintenance, highly amenitized living." NEXT PAGE >> Related headlines Most-searched O.C. homes hit the coast Irvine Co. announces 2010 new home series 'OC METRO Minute,' Oct. 19: Irvine Co. announces plans for 2010 New Home Collection Voit Real Estate directs $24.6 million in transactions |
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