Saturday, February 13, 2010

360 South Bay: Opening Day and Pricing

For those of you who have been waiting to check out what 360 South Bay is offering keep next Saturday open.  The Grand Opening is planned for Saturday February 20, 2010 from 10:00 a.m.-5:00 p.m.  

The good news is that prices are lower then the projected prices I posted a few weeks ago.... although I suspect they may need to drop a bit more especially on the Plan 1 Sudios in The Flats.  Most folks are going to want a bedroom is they are going to spend almost $400,000 for a unit.    Location and price are  definitely going to be  issues for the development.  As Renee Moilanen pointed out in her column in the Daily Breeze last week  most of us know that there is a big difference between  living in a beach community and Hawthorne.   


Diane said...

Hi Kaye,

I saw these numbers last night and I think if this is what they offered the first go-around they might have had a chance.

Their prices are going to have to drop quite a bit before they're going to be able to sell these.

But like I said, I'll probably still go and oogle. I won't be able to make it next weekend but maybe the weekend after.

Kaye said...

I'm going to buzz by also and see what they have done.

I agree had they used these prices in '07 they would have had better luck in selling the units... that said you are also right that prices will need further adjusting especially on the Studios.

Anonymous said...

I checked your blog 'cause I just got the email from 360, and remember you posted on MB Confidential a couple of months ago.

In my opinion, I don't mind this location as my kids are grown now and I like the proximity to the Blue Line, LAX and the Westside. But I still think the pricing is high.

As other posters stated, they would have sold out at these prices 2 years ago -- one of the smartest moves Fusion made was immediate and deep discounts, with lower grade materials, in their last phase (but almost everyone I know did not like Fusion -- mostly because of the 'concrete jungle' atmosphere.)

Kaye said...

Anon 8:40,
Centex was very smart about Fusion.. They had in house financing that saved buyers quite a bit on rates and closing costs.

They watched the market closely and gave discounts when they saw where the market was headed.

I suspect William Lyon is going to closely monitor the pace of sales and adjust prices accordingly as financing is going to be more difficult then it was for Fusion.

I'm guessing they don't want to sit on this project any longer then necessary.

Diane said...

Interesting; I just received a new e-mail from them saying that the Grand Opening is this Saturday (the 27th). What's up with that?

I'll be over there this Saturday to check things out. It will be interesting to see how willing they are in negotiating prices.

Kaye said...

When O went last week no models were open. They are going to have Flats this weekend and Courts the following weekend.

I'm guessing not much flexibility for a few weeks. I'm out of town so will be interested to see what you think of the units.