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CurbedWire: Little Tokyo Street Fans, Gatsby Hollywood Pricing Announced

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LITTLE TOKYO: We finally got around to checking out those purple fans that were added to crosswalks in Little Tokyo. Pretty. There are plenty of them all over the neighborhood. [Curbed Staff]

HOLLYWOOD: Pricing has been announced at the Gatsby Hollywood, that under-construction development in Hollywood. The 34 units start at about 1,500 square feet and will be priced from $749,000. What to think about this press release? "The Gatsby Hollywood developer, MasterCraft Homes, recently announced that metro L.A.’s first all green, all solar Smarthome™ community has set its pricing well below the homes’ appraised value. Pre-sales are now under way and model homes will be unveiled May 23. Prices for new single family detached homes at The Gatsby Hollywood are appraised to sell for $796,000. The builder, however, is making them available for $749,000, presenting homebuyers with a $47,000 savings." [Curbed InBox]

"These are uncertain times and making a major purchase like a new home in the face of potential market volatility is troublesome for families who remain fearful of buying,” states MasterCraft Homes Group CEO, Dan Thompson. “We’ve worked hard to value-engineer and build new homes that represent the very best value for sophisticated, sustainable urban living. It’s with that same diligence that we’re able to price homes at The Gatsby well below their most recent appraised values from March of this year. This enables our first phase buyers to buy with the confidence that their purchase price leaves tens of thousands in potential equity appreciation on the table. It also sets buyers on the right course for successful, profitable home ownership.”

In addition to The Gatsby Hollywood’s reduced sales price, new-home buyers can take advantage of historic low interest rates as well as FHA loans for up to $729,000. Other government-mandated homebuying incentives include recent federal and state tax credits totaling up to $18,000 plus solar energy tax credits up to $3,000. Restrictions to tax credits apply; buyers are encouraged to speak to their tax professional for details. With a 10% down program on the purchase of a new Gatsby home plus the federal and California tax credits, reduced sales price, immediate equity, and other incentives, buyers see an immediate return valuing up to 10% of the homes’ purchase price, resulting in an effective $0 down program. 3% down payment programs are also available on select homes.

The Gatsby Hollywood is a brand-new collection of 34 single-family detached California Brownstones. Floorplans start from approximately 1,535 square feet and present two bedrooms plus office or flex space, three baths, attached two-car garages and private rooftop decks that provide views of the Hollywood sign and Downtown L.A. skyline.

As Metro L.A.’s solar powered, all green, California Certified, ComfortWise® community, The Gatsby Hollywood is becoming as legendary as its location. Its earth-friendly features will reduce homeowners’ carbon footprint, cut utility costs, prolong the life of existing landfills, and minimize residents’ car dependency due to the community’s proximity to local dining, shopping, and public transportation.

Offering energy- and money-saving green features along with no community Homeowners’ Association Fees, The Gatsby Hollywood is practical in every sense. Adding to The Gatsby’s practicality is its third-party verification through Right at Home, the independent company inspecting The Gatsby’s homes at every phase of development, ensuring quality control and superior craftsmanship from day one.

To learn more, visit The Gatsby Hollywood’s community Sales Office, located on Fountain and Wilcox in Hollywood. The Sales Office is open from 10:00 a.m. to 4:30 p.m., Thursday through Monday and by appointment. Hard Hat tours are available to view the homes before the May 23 opening. Additional information can be found at TheGatsbyHollywood.com or by calling (323) 469-0883.