The Wall Street Journal-20080124-Money-s Worth - Real Estate
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Money's Worth / Real Estate
Multifamily housing starts declined 40.3% in December, causing all housing starts to decline to its lowest rate since May 1991, reports the National Association of Home Builders. Here are three condos from 2007-completed buildings.
PLACE/PRICE: Atlanta, Ga. / $384,900
TAXES: $6,848 / year
THE PROPERTY: 2 bedrooms, 3 1/2 baths, 2,317 square feet
DESCRIPTION: This unit with a 2-car garage has an office with a separate entrance on the terrace level. The third level has the laundry room, with walk-in showers and vaulted ceilings.
NOTABLE: The building has a fountain and gazebo in the courtyard. The South had only a 3.3% reduction in overall housing starts, while multifamily housing starts in the Midwest were down 30.8%.
PLACE/PRICE: Miami, Fla. / $750,900
TAXES: $15,000 / year
THE PROPERTY: 3 bedrooms, 2 baths, 1,789 square feet
DESCRIPTION: Floor-to-ceiling windows in the unit's main rooms and master bedroom face east, looking out to Biscayne Bay. There is a 540- square-foot wrap-around balcony.
NOTABLE: The 529-unit building has a fitness center and on-site spa. There is a party room and a 24-hour concierge and valet service. A pool and deck that spans a city block is on the 10th floor.
PLACE/PRICE: Philadelphia, Pa. / $950,000
TAXES: $14,280 / year
THE PROPERTY: 2 bedrooms, 2 baths, 1,367 square feet
DESCRIPTION: With hardwood floors throughout, this unit has a den off the kitchen, a breakfast bar with granite counter tops. The master bedroom has a balcony.
NOTABLE: The building has massage and steam rooms, saunas and a fitness center. There is wine storage, a multimedia board room and a library. Multifamily housing starts were down 25.8% in the Northeast.
Notes: Taxesmay include condo fees. Miami taxes are estimates.
Sources: NAHB.org, candlerparktownhomes.com, 50biscaynemiami.com, symphonyhousecondo.com
