Back in early June, Mark reported that Creative Designs Builders would pay six months of mortgage payments, assessments and property taxes for buyers who signed contracts at Silver Cloud Condominiums at 5346 S Cornell Ave in Hyde Park.
That deal expired at the end of that month, but now the developer is offering a 10-percent price reduction on the next 10 two-bedroom homes that go under contract, according to Sam Jenkins of Century 21 Sussex & Reilly.
Prices at the vintage 15-story, 72-unit high-rise range from the $210s to the $390s. After two years of marketing, sales at the building are still just around the 40 percent mark, according to Mark’s post. Will price reductions of $21,000 to $39,000 be enough to get things moving at Silver Cloud?
– Rate and review Silver Cloud Condominiums at NewHomeNotebook.
I suspect that the units that are not moving and are being subjected to all these price reductions, etc., are the ones that “face” the north wall of the Catholic Theological Union and have no natural-light source to speak of. Good only for night workers and others who couldn’t care less about living under artificial light 23 hours a day.