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Venice's Dogtown Station Dangles Priuses

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VENICE: It looks like Venice's Dogtown Station project, which is still trying to sell out, is now offering cars with units. How about just lowering the price of the units? Via the web site: "Every new loft buyer drives away with a new Prius." The lowest price unit in the Main Street development, which has been open to prospective buyers since at least 2008, is asking $819,000. According to the Urban Insights LA blog, the car deal has been on since at least December 1st. The blog crunches the numbers:

"Overall, this newest price point, $819,000, represents a 17% decrease (on a PSF basis) from the early 2008 peak average?without counting the additional incentive of a 36-month lease on a new 2010 Toyota Prius with the purchase of any unit (valid until December 31st). Assuming a 2010 Prius base sticker price of $23,370 with monthly lease payments of $341, this incentive is worth around $13,000 by my calculations, meaning that the effective price PSF is closer to $583, or about 19% off the original ask." Smahty-pants. It looks like some sort of Prius deal has been extended, however, since that photo was taken last weekend. [Curbed Staff]