Smith
 |
| 09/19/2007 8:40 AM |
 Alert
|
I did a tour of SmartCorner recently and collected the following notes:
- The building is 48% "sold" or what I would call reserved. One unit I looked at had a sold unit in the window but the buyer was backing out due to changes the contract signing. I'm sure if the market was materially higher than contract price this probably wouldn't be the case
- 22 units have actually closed escrow
- HOA fees are $466 for one bedrooms and studios, $619 for larger units
- The HOA includes Cable, phone and Internet. I think this is an attractive concept.
- Two bedroom units have two parking spots which are tandem assuming the unit is 8th or 9th floor or above.
Positives
- I'm a huge fan of modern, urban architecture and this building is spot on, it's got a very nice decor, the units are well laid out and interesting although some are small they still feel open as most are configured as lofts. Lots of glass.
- Great view, I think the set back view from Golden Hill or deep in East Village gives a great view of the city, then bay then Coronado/Point Loma and then the ocean.
- Many of the doors in the units are pocket doors (internally slide between the wall rather than out). Pocket doors are very nice as you don't lose livable space on the inside of the room. Besides how often do you really close internal doors?
-The rooftop deck and hot tub are very nice. Even better it's going to be open 24 hours. I'm currently in a building that shuts everyone down super early. Why have and pay for these amenties only to not use them?
Negatives
- The neighborhood is pretty rough, this doesn't phase me at all and I'd move in next week for the right price. I do see that area of the city getting much much better.
- I'd be concerned about trolley noise and any security volatility it brings.
- Electric stove, this isn't end of the world but gas is so much better
- Relatively small balconys, still good enough to run a gas grill. There is one floorplan that does not have a balcony.
- The views are volatile in my view as there are a lot of vacant lots and buildings with zero economic value in the area.
- Price
Net net this is not a Bosa or Citimark building but I think it's quite good, I really think they did a nice job and unlike a lot of the projects I look at I could see myself living there at some point.
|
|
|
|
|
|
|
Anonymous
|
| 09/19/2007 11:09 AM |
Alert
|
I agree with everything you said.
Price -- value for the money will determine the success or failure of this building. |
|
|
|
|
Bubble Boy
|
| 09/19/2007 11:10 AM |
Alert
|
| Smart Corner is toast! |
|
|
|
|
CYB
|
| 09/19/2007 12:53 PM |
Alert
|
TOAST!
$619 / 2 bedroom. That is ridiculous. Absolutely ridiculous. This is not the Grande. This is Soup Corner.
This entire development screams 'amateur hour,' and you want to see $600 a month for a basic phone/cable/internet package (+ all the other standards). Are we subsidizing the soup kitchen?
The views you speak of...only a fraction look west. The rest look south towards industry, empty lots and the Navy yard; or north and east towards poorly developed 92102, I-5, Del Taco, City College, rush hour.
Tandem spots? That will be fun.
|
|
|
|
|
Dildo
|
| 09/19/2007 1:03 PM |
Alert
|
| I pitty the people that have closed escrow.... |
|
|
|
|
Joe
|
| 09/19/2007 1:04 PM |
Alert
|
Tandem spots are the new Valet parking.
Just ask AV residents. |
|
|
|
|
Anonymous
|
| 09/19/2007 1:14 PM |
Alert
|
Smart Corner is not that tall. The view will get obstructed as other buildings are built.
I think the Internet and Cable service is a scam. It's run by an outside service company (forgot the name) that only provide very slow service. You have to pay more for faster service. Why not get the service directly from AT&T or Cox? What I'm saying is that significant discount from having cable and internet at as part of the HOA. I bet you that the builder or the property management company is getting a kickback on that service.
|
|
|
|
|
Anonymous
|
| 09/19/2007 1:18 PM |
Alert
|
I meant NO significant discount on Internet and Cable as part of HOA.
Personally, I don't need cable TV and I would not be happy paying for it as part of HOA to subsidize the other guys. KPBS, ABC, CBS, NBC, Fox is all that I need. The building should have an antenna on the roof to improve over-the-air TV reception. That to me would add real value.
|
|
|
|
|
Anonymous
|
| 09/19/2007 1:25 PM |
Alert
|
What is the address of Smart Corner? Can you see the closed sales on SDlookup already?
So how much does a 2bed go for? $500k? If so, that's $500/mo in property taxes (at 1.2%) + $619 HOA = $1,119/month before you even touch the mortgage payment. How many will want to pay such amount just to live at Smart Corner?
|
|
|
|
|
Joe
|
| 09/19/2007 1:38 PM |
Alert
|
Yes.
HOA dues should cover necessities that everyone will use. Security, garbage, water, gas, electric.
Not services that are subject to all manner of differing plans. High speed v. dial-up internet. Standard v. expanded cable.
When you do this, you are bound to pay top-dollar HOA for least-common-denominator packages, then pay extra for what you
really want.
Just another developer kickback scam. |
|
|
|
|
Smith
|
| 09/19/2007 1:48 PM |
Alert
|
I believe the address is 1080 Park Boulevard
I doubt any closings have registred yet.
I due east view is actually quite nice and you dont have to deal with heat when you get home from work. The combo internet/phone/cable is probably worth $70 a month or so. You will need a phone line as its part of the security system. There might be a camera that fits into the cable. While I have a jaded view on a lot I don't see this as a scam it's just what they've decided to do. I'm sure the HOA could revert back to whatever or you can also get your own DSL line. |
|
|
|
|
Anonymous
|
| 09/19/2007 2:36 PM |
Alert
|
Smith, HOA is a necessity nowadays but about 20% of it is a scam in cost overuns, management fees. etc..
We say that government is corrupt but we've created another monster in the property management companies. We now have all those new parisites to feed. Unlike government, management companies have no accountability and their books are not open. Don't you think that the contruction company is not buddy buddy with management company that' s buddy buddy with the architectural firm? Many of them are cross owned by related parties. It another mafia.
|
|
|
|
|
Anon
|
| 09/19/2007 2:59 PM |
Alert
|
| Soup Corner. When you put it like that, it actually sounds kinda hip. |
|
|
|
|
CYB
|
| 09/19/2007 3:46 PM |
Alert
|
| Soup Corner it is. Someone should alert the developer, and an enterprising young lad would do well to run out and buy-out all the SoupCorner websites. Like SoupCorner.net and SoupCorner.com. They're gonna go fast. |
|
|
|
|
Anonymous
|
| 09/19/2007 3:56 PM |
Alert
|
Sounds more like an urban chain of soup and sandwich places.
Keep in mind the office building entrance is on the opposite block of the condos. It would appear they were trying to keep the various traffic patterns separate as best they could. |
|
|
|
|
Soup Corner sounds good
|
| 09/19/2007 4:48 PM |
Alert
|
| I'm poor. What happened to the low income, or "alternative income," or whatever it was they were calling them - units? |
|
|
|
|
Smith
|
| 09/19/2007 4:52 PM |
Alert
|
Those are some of the studios, they still have some based on my conversation. There is a bunch of paperwork and other requirements that apparently not many people have been able to go through.
For what its worth I thought the studios were well laid out as studios go. I've seen some bad ones and these were about as good as you can get. |
|
|
|
|
WTF
|
| 09/19/2007 4:52 PM |
Alert
|
| Soup corner hahahahaha |
|
|
|
|
Asher
|
| 09/19/2007 6:49 PM |
Alert
|
| I toured Smart Corner recently and have to say all the views, as long as you're high enough up, are spectacular. Of course they're prone to go away as surrounding blocks get developed, but that's part of why they're so great right now -- nothing is developed nearby so none of the views are truncated. |
|
|
|
|
CYB
|
| 09/19/2007 9:20 PM |
Alert
|
I guess that makes sense. If by "view" you mean "you can see a long long way." But if by "view" you mean "you can see sightly scenes" then I would still say Soup Corner is lacking.
From the lower floors, you get a wonderful shot of Goodyear, parking lots and structures, maybe even the Merrill Lynch building.
Even from the penthouse you can barely see the ocean or Pt loma, for all the skyline in between. Seriously, if you look anywhere but West, it looks like Detroit, with all the empty lots, underdeveloped space and industry to the south. |
|
|
|
|