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REAL ESTATE INDUSTRY NEWS
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56 homes sell at Central Park West since May grand opening

Number falls 'in line with expectations,' says Lennar's John Baayoun.

By Kristen SchottPublished: August 10, 2010 02:23 PM

Fifty-six of the 203 homes available at Central Park West have sold or been signed to contract since its May grand opening. The number, which represents almost 30 percent of the released properties, falls in line with developer Lennar Corp.'s expectations, said John Baayoun, president of the firm's California Coastal division.

"We have been very aggressive with our expectations for Central Park West, because we believe that these residences ... offer a value and lifestyle that exist nowhere else in Orange County,” he said.

Touted as Orange County's first urban master-planned community, Central Park West, which is located where Jamboree Road meets the 405 Freeway, currently has 31 residents. Another 25 are slated to move in by the end of the summer.

The luxury development spans six different communities with flats, high-rise condos, lofts and townhomes ranging in price from the upper $200,000s to more than $1 million.

Among the other features: panoramic city views, vaulted ceilings, gourmet kitchens and resort-style amenities such as a clubhouse and 2.2-acre Central Park.

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I would like to see the flat model
Comment at 8/11/2010