Pinnacle Condos in Downtown San Diego - All its hyped up to be?
Pinnacle Condos in Downtown San Diego - All its hyped up to be?
Those following the condominium market in downtown San Diego for
the past two years you have undoubtedly heard of the Pinnacle
condominium project and the desire of many to live there. Why
all the hype to buy in the pinnacle. Many residents that were
able to buy a unit directly from the developer did so because of
expected quality and tall height making it a flagship for time
to come.
The builder of the Pinnacle, Pinnacle International, based out
of Canada has never built a condo building in San Diego before.
Many residents based their decision to buy based on the high end
finishes in the model (built in the sales office) and the
expected water views.
As the Pinnacle come to fruition, with move in scheduled to be
in a couple weeks, some of that hype is coming down to reality
as buyers on their walk-thru's are starting to realize that this
is just another condo with its pluses and minuses. Plus are the
views, high ceilings, and kitchens. Minuses are the size of the
bedrooms, lack of closet doors in the master bedroom, and though
it's a little early to make a final opinion, the hallway carpet
color and pattern along with the location of the lobby mailboxes
have drawn some complaints.
So now the big question, prices, while no one has closed escrow
yet its expected there are a fair number (ie 10% = 20 units)
will soon be available for those who missed buying directly from
the builder. However, the builder does have a few select high
end units for sale that for various odd reasons were turned back
to the builder. One must have deep pockets and no apprehension
to acquire one of these units many of which are at record high
prices per square foot for downtown. Whoever buys one of the
remaining units from the developer will have bragging rights for
paying top dollar for a condo for the next couple of years.
Though speculators are greedy, most are savy enough to know fair
market values and potential appraisal issues that could result
from asking too much. The end of the year is near and the
Pinnacle hype will either continue as units remain rare or sell
for top dollar or it will become just another high rise in the
mix of downtown condos.
Keep an eye on my website http://www.LiveAtTheTop.com for future
units available for sale and at least 20 photos of buildings
amenities and interiors. In about a year from now the Pinnacle
residents will be surveyed and asked to rate the property and
offer their review of pros and cons.
Immediate questions may be addressed to Mark Mills, Realtor,
RE/MAX (619) 606-2596