Central Park West

D

diulei

New member
[Did a search for this since I remember things on IHB, but nothing here]

I've had an eye on Central Park West since they started construction a few years back.  Seems like some of the pricing has dropped - they're listing things "from the low $300s" now (which is what peaked my interest... something I might be able to afford!  ;)).

I visited the community in 2008, it wasn't bad (not necessarily great either).  They say HOA will be "estimated at approximately $150/month", reasonable for a new development in Irvine.

Anyone else have any input (good/bad/neutral)?

 
Actually, I guess what I meant to ask was... has anyone else been there? Know of any new developments?
 
diulei said:
They say HOA will be "estimated at approximately $150/month", reasonable for a new development in Irvine.
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There are 2 HOA's that you have to pay at CPW.  My guess is that the $150/month is the general HOA for the whole development that gets you access to the clubhouse/amenity area and maintains the roads, etc.  The 2nd HOA will be your project specific HOA that will cover whatever happens in your building.  That will be insurance, trash, maintenance of hallways, lobbies, exterior, etc.  I would guess the 2nd HOA would be about $500/month.
 
wait the 1st plus second would be 500 or the total would be 650?  Because...DAMN.  DAAAAAAAAAMMMMNNNN.  Even if its 500. Damn.  Why would ANYONE buy something like this at those prices?  Oof.   
 
Damn, $500...  :(

My interest in this community keeps dropping.  With a little bit of Googling I was able to find the floors plans - they're pretty "strange".  The two that I was interested in all start on the 3rd floor - even though the garage is on the first.  That means 4 flights of stairs to get to the living room (since each floor would have 2 flights in a wraparound style). The third floorplan is sandwiched in between the other floor plans and the garages, not very enticing.

http://www.cpwliving.com/plans.php?c=maxfield&p=1&
http://www.cpwliving.com/plans.php?c=maxfield&p=2&
 
Got this email from Lennar today:

Phase One of Maxfield sold out within hours and we recently released Phase Two for sale, with prices ranging from $369,000 to $496,000.
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Irvine2Irvine said:
I think the area belongs to Santa Ana School District. 

Not the optimal location if you have kids.
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Yeah, it is.  I don't think the SA school district is a problem per se, but I do think that they can't charge Irvine prices if you don't get Irvine schools.  Well.  I guess I shouldn't say CAN'T because obviously they are.  But I mean, mid 400's for a condo + the 400/mo hoa?  And Mello roos ? (unless thats included in the HOA somehow?)  Why not buy one of the leeds certified condos in GG and eat delicious thai food 3 times a week?

Actually when I first saw these advertised I thought they might be cool, but "urban living" my ...you know.  Urban living would have at least a couple stores and cafes scattered throughout there, not a strip mall on the corner.  A strip mall is NOT urban living.  I hate the naming scheme too.  I wish they would think of bland but originalish suburban names for stuff.  I remember the first time I saw all the Ivy league named streets around UCI and I was so horrified for all those asian kids whose parents WANTED them to go to Harvard or Yale or Stanford or UCB/UCLA but they ended up at UCI becuase they couldn't get into any of those.  I mean geez, way to rub it in. 
 
Talyssa said:
I do think that they can't charge Irvine prices if you don't get Irvine schools
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They can charge that much because it's in the middle of the Irvine Business Complex.  You know, where all the high paying jobs are.

Talyssa said:
Actually when I first saw these advertised I thought they might be cool, but "urban living" my ...you know.  Urban living would have at least a couple stores and cafes scattered throughout there, not a strip mall on the corner.  A strip mall is NOT urban living.
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Have you seen the Irvine Business Complex Vision Plan?  The whole area is being transformed to mixed use.  You don't buy CPW for what's there now, you buy for what will be there.  That's how you make money in real estate, get into an area before it's built out and prices go up.  Just like stocks you buy low sell high.


 
Irvine Business Complex (IBC) Home Page.

test said:
Have you seen the Irvine Business Complex Vision Plan?  The whole area is being transformed to mixed use.  You don't buy CPW for what's there now, you buy for what will be there.  That's how you make money in real estate, get into an area before it's built out and prices go up.  Just like stocks you buy low sell high.
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There will never be true "urban living" in Irvine.  And I'm not even referring to NYC / SF urban living (which frankly is a little TOO much urban)... I'm thinking more Old Town Pasadena, where you have a mile or so of options.  Irvine (and OC) is just not built for it.

But anyway, I see that prices have gone up again... they were listed from the low $300s now they are high $300s.
 
test said:
They can charge that much because it's in the middle of the Irvine Business Complex.  You know, where all the high paying jobs are.

Have you seen the Irvine Business Complex Vision Plan?  The whole area is being transformed to mixed use.  You don't buy CPW for what's there now, you buy for what will be there.  That's how you make money in real estate, get into an area before it's built out and prices go up.  Just like stocks you buy low sell high.
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I haven't seen the IBC vision plan, so thats new to me, and it certainly adds potential value but I disagree that because its in the middle of that complex vs just outside it they can charge a ton more because there are "high paying jobs" there.  Those same jobs are accessible from 3 miles away and its quite a bit cheaper to live those 3 miles away.  I mean, my point was that if you don't mind the santa ana school district its a LOT cheaper to move 2-3 miles over into santa ana or north into orange/tustin.  And yes I realize this will technically be in a nicer part of town, but nice parts of town either spread their edges into the less nice parts or vice versa.    If you want to buy low and see appreciation because the area gets "nicer" then these are like 30% more expensive than your other options.  And that seems too high UNLESS that 2 mile difference gets you some immense perk like a super desirable school district.
 
FYI: Visited the property today, a sales associate confirmed a $365 HOA + Master association fee.  Also zero room for negotiation.
 
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