Two Koreatown condo buildings, Summit on Sixth and Solair, are looking at May move-ins, so you gotta imagine the pressure to unload is on. In the case of Summit on Sixth, the building at 3223 6th Street has the task of selling 96 units and while it's not clear how many condos have sold, here come the chops. According to Redfin, a 1,510-square foot two bedroom that was originally listed at $731,850 is now asking $490,000. And a 1,374-square foot unit that was asking $628,140 is now asking $454,000. According to the listings, the developer is now offering to waive Homeowner Association Dues for one year, a savings of roughly $8,000 a year, according to the sales office. And via Loopnet, it looks like the building is trying to fill out their retail space (asking $3.00/SF/month).
· Summit On Sixth [Official Site]
· 3223 West 6th, unit 202 [Redfin]
· CurbedWire: Summit on Sixth Move-Ins, Shotguns Bring In Questions [Curbed LA]