The West End is a 12 story, 72 unit,
luxury condo tower that only has sold a dozen condos to discerning buyers. This building is one of Nashville’s few true luxury buildings. The average size of the condos is over 2,200 square feet and each unit features very large kitchens, baths and closets that remind me of the executive homes in Brentwood.So why haven’t more of these condos sold? The answer is simple. This building is a victim of the real estate perfect storm.
1) The developer built this building without pre-selling the condos
2) The economy then turned sharply downward
3) The developer was slow to tell the public what this building is and how great it is
4) The developer and sales team then failed to create a “want and need” for this product in Midtown
The next question people ask me is “I am scared that the developer or project go bankrupt like
Laurel Cove”. Don’t worry your pretty little heads…John Coleman Hayes can and will carry this building for years if need be. That being said, no one can carry a building indefinitely, so if the building does not sell out in the next 2-3 years, I would start to worry.The West End is the perfect building for a couple or family who want to live a truly urban “New York” style of life. It is sexy and fast and convenient all at once. It is a life that includes frequent stops at the symphony and hopping on planes that travel to European destinations. It’s very different for Nashvillians.
The West End is considering allowing owners to
rent their units. You might be able to taste the good life without having to pay the price soon and that is great news for Nashville!
