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MPLS Downtown Condos
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Post MPLS Downtown Condos 
Don't hear much about the gluttony of Minneapolis downtown condos. Are they selling? Last time I heard, it was very slow, almost to a hault.

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You are correct the market is certainly saturated with DT condos! Yes, they are selling but at a much lower rate than they are being put up. I have sold many of them and have the same conversation with all my buyers. It is not a good plan to purchase DT unless it's a long-term investment for you. It's something that you would need to stay in for 5 if not 10 years to see real equity built.
However, now is the time if you are considering it. There are MANY great deals DT as the builders NEED to get their product moving, so there are MANY incentives for purchasing and slashing prices.

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Those condos seem so overpriced. Buying one for $300 - $400 grands seems way overboard. I am not sure what attractions Minneapolis downtown has.

I thought they were building a high-end condo, office and shop tower on the Nicollet right across from the Brit's Bar. Have they started it? That would be a real tough sell since I remember they priced it insanely high. Most of the condos charge each owner $600 - $800 a month for maintaining the building. That plus the mortgage payment surely will price out a lot of folks.

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WhatsUp wrote:
Those condos seem so overpriced. Buying one for $300 - $400 grands seems way overboard. I am not sure what attractions Minneapolis downtown has.

I thought they were building a high-end condo, office and shop tower on the Nicollet right across from the Brit's Bar. Have they started it? That would be a real tough sell since I remember they priced it insanely high. Most of the condos charge each owner $600 - $800 a month for maintaining the building. That plus the mortgage payment surely will price out a lot of folks.



Downtown living means no rush hour, you can walk or take a cab to any bar for under $10.00 and much much more.

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Post Condo Liquidation 
Saw on the news the other day that there are a lot of condo liquidations going on around the town. Some condos have their prices dropped from $300 grand to $200, a $100,000 price drop. Some condo buildings have the sign "Everything must go".

I know some builder was going to build a highrise condo/office/retail complex, The Nicollet, on the Nicollet Mall near the Orchestra Hall. I was told that is put on hold because it hasn't pre-sold enough units yet. I am actually glad if that falls through since I like the Nicollet Mall the way it is now. That big highrise looks like an eyesore to me.

Good luck to those who are selling their condos. It looks like a bumpy ride ahead.

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