Provence Development Group’s Astoria Tower Residences & Spa is currently under construction at 8 E 9th St in the Loop, and while we’ve written quite a bit about the 30-story tower over the past year, this is the first sales update we’ve posted on Yo since 2006. Back then, New Homes reported that pre-construction sales had reached 80 percent. Now, Coldwell Banker Residential Brokerage agent Tom Hartmann says that 75 units are currently for sale, which is slightly more than 30 percent of Astoria Tower’s 241 units, so a net of some 10 to 15 contracts must have been broken in the past two years.
Hartmann says most of the remaining units are one-bedrooms (with and without dens) and two-bedrooms. He says the 683 square-foot one-bedrooms priced below $250,000 have been among the most popular units in the building, and that only seven of those units are still available.
The most abundant units (or least popular, whichever you prefer) are the two-bedroom / two-baths, of which at least 35 remain. The two-bedrooms range in size from 1,137 to 1,480 square feet and in price from the $390s to the $690s.
A current sales incentive includes one year of free assessments and a $2,500 upgrade credit on finishes. Hartmann adds that even though Astoria Tower will be a full-amenity building, assessments will be kept between about $280 to $500 because most of the building amenities will be offered on an a la carte basis. Parking is currently offered from $40,000 to $42,000.
Deliveries on floors 2 through 10 are expected to begin in December. Construction should wrap up by early fall 2009, Hartmann says.
– Rate and review Astoria Tower at NewHomeNotebook.com.