The 801 South Street Condominium effectively sold out during their first lottery, with almost 700 interested parties signing up for units. The 3.7 acre property, located next to Kapiolani Boulevard and South street, was previously the home to the Honolulu Advertiser and Star-Bulletin newspapers. The developer, Downtown Capital, had required that all participants in the initial lottery to be of moderate income, which means that they could earn no more an 140 percent of Honolulu’s median annual income. Buyers would be required to be owner occupants for at least 1 year.
Prices ranged from $253,200 for a studio to $501,300 for a two-bedroom unit. The units will be relatively small, ranging from 384 sq ft for a studio to 816 sq ft for a 2 bedroom unit. In an effort to keep monthly maintenance fees low, the building will have very few amenities including no swimming pool and no gym. The building is expected to be completed in 2015.
Source: Honolulu Star Advertiser, 3-27-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
