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Lincoln Heights Condo Project Is Liquidating

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How's this for an email intro: "I am writing you as the listing agent for a recently completed project in the Lincoln Heights area. We are conducting our Liquidation Sale this Sunday, January 25 from 1 to 4 pm." And so the word "liquidation" enters the Los Angeles real estate lexicon. According to agent Pei Chang, there are 18 units at the City View Garden condo project left; pricing starts at $275,000. The first phase of this project was finished in 1995; the second phase was completed last year. A total of 57 units were built in that second phase, and 29 have either sold or are in escrow. As far as the pricing, $275,000 will get you a 950 square foot two-bedroom. So are the people who bought the same sized unit at the original price--they paid $379,000--pissed right now? "Well, they aren't thrilled," Chang tells us. "On the negative side, they overpaid, but they also got to pick out the unit they wanted." Official web site for the condo project, which is located at 3711 Baldwin Street, is below.
· City Gardens [Official Site]