Hugh,

The condos that are for sale or being built around Broadway in Saratoga are ranging from $400,000 - $1 million. Are people actually paying these prices? It seems like a price you would see in a big city. I understand there are lots of restaurants, bars, shops and a great scene in Saratoga, but are people actually paying these prices or do you see these prices dropping in the next year if they are unable to sell the condos at these starting rates?

Thanks.

Buying them ??
They can't put up them up fast enough.
Have you ever seen North Broadway ?
50% of those houses are August only - owned by the rich. I think this condos play right to them.
I do not think they have any problems selling these condos as they keep putting them up

Unholy, so you are thinking out of towners are buying these condos to live in during track season only? Hugh, any opinion?

quote:

Originally posted by DA:
Unholy, so you are thinking out of towners are buying these condos to live in during track season only? Hugh, any opinion?

I think a good deal of them ..i think empty nesters who have sold their homes and want "easier" living and i think people from the city.

There is a lot of money in this area.

Yes, The Saratoga Condo market is red hot!
The latest ones over where Bellinni's is going in are already pre-sold 8-10 units before they were even built from what I heard. It's really a mix up there of buyers, yes numerous NYC and other parts of the country people see it as a bargain, keep in mind a 700 sq ft studio condo in Manhatten is still in excess of $500,000 in a good building, so this is cheap to them. AMD has aquired a number of them I know also many local empty nesters from nice areas of Clifton Park have purchased up there. I've sold a couple. They've come out of the 400-600K neighborhoods and opted for the no maintenance lifestyle and having a nice downtown to walk around in. Keep in mind Clifton Parks downtown is the mall. I don't know the stats yet, but the new one going up right next to Congress Park is sure to sell out quickly because of it's location.

Wow, this is good info, thanks Hugh. Yes, the new ones going up near Congress Park, across from DINE, start at $580,000.

Here's a price list of the condos available at the new building going up beside Palio (Park Place).

It looks like a good number have already sold and most of the ones that have been bought have gone for over a million dollars.

Park Place Condos availability and prices

Hok,

Where are these being built? Their sq ft are bigger than a house.

quote:

Originally posted by DA:
Hok,

Where are these being built? Their sq ft are bigger than a house.

Those are the ones on SOuth Broadway right before you get to the entrance of Congress Park. Where the old YMCA used to be. The building is huge, and those listings don't even count the office space that's going to be located on the bottom couple of floors or the parking garage underneath.