2009 was supposed to be a horrible year for Nashville condo sales, yet the Icon in the Gulch was able to sell and close 84 new condo contracts. By the pure number of closings, the Icon in the Gulch was certainly the big winner in terms of gross number of sales, but many may be surprised to learn that 84 condos only represents about 20% of the 419 unit building, the biggest residential condo building in Nashville. By my calculations the Icon is now 50% closed out leaving over 200 condos yet to be closed and that may represent a liability to current condo owners/buyers whose floor plan has not sold well during 2009.
As an example, the Verge floor plan is a sizable 1,100+ square foot 2 bedroom condo located in the midrise portion of the building and according to the tax record, none sold in 2009. 8 Verge condos did sell in 2008 that ranged in price from $331,000 to $411,250, but that still leaves 40 Verge units that remain to be contracted. Clearly, not many buyers are aware of these eccentricities since this information has not been made public, but this information is available from the Davidson County Register of Deeds office in downtown Nashville.
There are many different floor plans, views, floor levels, etc in the Icon in the Gulch and many have sold quite well. My point is that buyers should to seek out the full story prior to jumping into a purchase with both feet. Should you choose to utilize the services of a real estate agent, your condo will not cost more money as the buyer agent’s commission is paid by the seller, not by you. In other words, if you are not using one of 3 buyer’s agents who have sought out all of the sales information in the building, not only are you buying without all of the pertinent information, you are missing out on what is essentially free advice, representation and expertise. The Icon in the Gulch is a very desirable building with excellent amenities and community, but there are quite a few monetary pitfalls a buyer can avoid with the proper advice to maximize your condo purchase.
Email Grant to see how I can help. I can answer questions like: are you paying too much? Is the condo you like in high demand or low demand? How many of your floor plan are left to sell? Is the Icon in the Gulch the best condo investment in Nashville? Am I receiving all of the seller concessions I could negotiate? Will the Terrazzo condo prices affect my condo’s future resale value? As well as many other questions and concerns.
View all condos for sale in the Icon in the Gulch
