I don’t have a whole lot of details to report at the moment, but I talked to Terese Cataldo of Cataldo Interiors Group this morning and learned that there are some changes in store for the Cataldo / Marovitz Group’s loft project at 660 N Kingsbury St in River North.
Val noticed yesterday that Koenig & Strey GMAC Real Estate has taken over the marketing for Park Kingsbury Lofts. With that change comes more than just a redesigned Web site – Cataldo says the project’s floor plans and prices are changing to meet buyers’ demands for larger units.
According to the Park Kingsbury site, prices now start in the $470s for the development’s smallest floor plan, a 1,190 square-foot, two-bedroom loft. Compare that with our sponsored article from February, when Cataldo / Marovitz was offering 927 square foot one-bedrooms starting in the $400s. In essence, the smallest units have gotten larger and are pricier from a bottom-line standpoint, but it looks like the price has actually dropped in terms of cost per square foot.
In February, the development’s three-bedroom-plus-den layouts started at $1.1 million. The new prices have those floor plans starting at a little more than $1 million and going up to almost $1.6 million.
I don’t have any information yet on how the changes in unit size will affect the total number of units in the project, or how this redesign affects Park Kingsbury’s timeline. (First deliveries were supposed to begin around the beginning of 2009.) I hope to hear from Koenig & Strey agent Jim Luby soon to get more details on the changes in store for this development.