Developer Peter Savio has announced that sales have begun for the Rycroft Terrace, the converted low-rise annex of the Pagoda Hotel. There are a total of 162 units for sale, ranging in size from studio units with 300 sq ft of space to two-bedroom units with 737 sq ft of space. Prices range from $123,480 to $274,950. Monthly maintenance fees will range from $231 to $559 per month.
In order to qualify to buy in the Rycroft Terrace, buyers must make no more than 140 percent of Honolulu's median income, which equates to $93,000 fro a single person or $134,000 for a family of four. However, Savio added that he will give preference to families who make less than that. Some who qualify will make as little as 30 percent of median income, or $20,150 for a single person or $28,750 for a family of four. Savio stated that the will qualify buyers with as little as 5 percent down and provide up to a $2,000 closing credit for those buyers who make less than 100 percent of the median income.
Buyers will be able to take possession of their units in June or July of this year.
Source: Honolulu Star Advertiser, 4-26-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
