In Phoenix, the highest residential tower is about to be opened for the public to buy units. 44 Monroe is located in downtown Phoenix on 1st Avenue & Monroe and is close to sports arenas, theaters, shopping, fine dining, the light rail, nightlife pretty much everything-there-is-to-do in downtown.
44 Monroe features 8 levels of secured parking, a pool and spa on the eighth floor with gorgeous mountain and downtown Phoenix views. Other amenities include a fitness center, business center, community center and conference room.
The reason that this is interesting is it wasn’t all that long ago when 44 Monroe was headed into foreclosure and the hopes of having “affluent condo dwellers” were going down the drain.
But now that they are coming out of Foreclosure and starting to be sold… does this mean that people will be back to buy?
Probably.
Only at a much lower price than they were a year ago.
And with several of the units at 44 Monroe showing that they have recently expired in the MLS or were changed to “temporarily off market”, this market is in flux. Pricing used to range from the 300’s to over $2million.
But with the first of its kind coming out of financial troubles, it will be interesting to see what the new pricing looks like.
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