What may happen to those Irivine Urban Living Condos...

NEW -> Contingent Buyer Assistance Program
Facing East and South, this posh residence finds its marked presence in the 210 drgree views it showcases. Whether the Irvine Spectrum, the John Wayne Airport, or simply a romantic sunset, the essence of O. C. is so close to home. Uniquely placed to maximize the beauty of the sprawling horizon, these floor-to-ceiling walls of glass illuminate a style of living. Designed and funished by ethan Allen, include professional grade appliances, abundant storage space, jacuzzi tub & built-in speakers.

A freeway-view condo priced at $916 /sq ft. "... illuminate a [fill in the blank] style of living." I submit "bat-sh*t crazy."

http://www.redfin.com/stingray/do/printable-listing?listing-id=1169732
 
they started out at 600 sf for $600K? that's more expensive than san francisco pricing (www.socketsite.com is a fun website to check out sf property). I feel sorry for whoever bought at that price point. Looks like they lost about 50% in "value" in two years if 600 sf is asking $323K now. Would be nice to see similar price adjustments for the Plaza Irvine highrises, although high rise living looks a bit more disappointing as the months go by (as in the novelty factor seems to be wearing off for me).
 
Uniquely placed to maximize the beauty of the sprawling horizon,

I love it! The only thing it's "uniquely placed" between are the 405 freeway and the airport. So the sounds of traffic, prop planes (which are really loud around here for some reason), and jets taking off and landing are what you get for ambient background noise. How's that for beauty?
 
fumbling,

Yes, can you believe that? And there's no direct parking. You have to park in a multi level parking structure. That was a big turn off for me back then in 2005. Think about it? You deal with parking structures at work...the mall...the airport. But once you get home too? No thanks. Oh how about when you have a load of groceries. How the heck are you going to carry all those grocery bags on one trip from your parking space?
 
Code: 
A point of comparison.

<a href="http://www.turningtorso.com">Turning Torso</a>

I visited this place on a business trip to Sweden. This is a world-famous building designed by Santiago Calatrava. 
It sits on Ribersborg beach, overlooking the Oresund Strait. Copenhagen/Denmark is a short 15-min drive or train ride over the <a href="http://en.wikipedia.org/wiki/Oresund_Bridge">Oresund Bridge</a>. 

I've read that the pricing was about 53000 SEK per square meter when they were selling the apartment units back in 2003, which
comes out to be roughly $774 / sq ft. They had a lot of trouble selling them initially.

I can sort of justify that price. Irvine's wannabe luxury condos overlooking the 405 are a different story.
 
Always fun to look at that building at night from the Houstons parking down below.

Have you ever seen North Korea from space at night. NO LIGHTS.

Either nobody is ever home in that building or its like 60% vacant.

Once upon a time some Mortgage Broker friend of a friend bought one of these units.

I wonder how his business is doing these days and if he still has the unit ?
 
reason, your comments about the parking at Plaza Irvine are exactly right, even worse is that at the gated parking entrance there is a strange little concrete curb right in the middle separating the cars coming out from the cars coming in, that makes cars coming in have to "squeeze" to the right to avoid hitting the center island curb, but there's a high probability of rubbing your tires on either the center or the right concrete curbs. I know a lot of people would knock their alignment off every week with that stupid parking entry/exit. It's way too narrow for full size sedans like Cadillacs (not that I have one but the older crowd who might still like high rise living are likely to have the bigger cars) to easily get in and out of and a headache for mid-size cars. Anyway it's a pet peeve of mine, couldn't believe the parking access was so bad, and you still have to carry groceries all the way from the parking underground to your unit. I wonder if more people are living at the Plaza vs. the Park Place or if both are like North Korea?
 
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