Friday, February 3, 2012

With the Upcoming Foreclosure on Victory Park's House, How Many Units Should I Buy on the Cheap?


DALLAS - Victory Park’s House condo tower was marketed as a landmark in urban living. The 28-story residential tower styled by French designer Philippe Starck tried to lure residents with its modern architecture and location on the edge of downtown Dallas. But consumers didn’t buy it.
Only about 20 of the high-rise’s residential units have sold since the project was built in 2007. And now a German bank is trying to foreclose Tuesday on the remaining 112 condos in the building at Continental Avenue and Houston Street, legal filings show.
The House, developed by London-based Yoo Ltd. and Dallas’ Hillwood, targeted young, affluent residents who wanted to live in the new Victory Park neighborhood.
Units in the tower originally sold for just less than $400,000 for a small one-bedroom condo to almost $2 million for a penthouse.

Since I only know how to write snarky blog posts and place basketball wagers, both quite poorly, I won't pretend to know anything about this foreclosure stuff. I do, however, fit squarely into their original target demo of young, affluent, handsome, and well-endowed, or whatever they said. Plus, I have been looking into getting a another place for when the Mrs. busts my balls about said gambling decisions, and I'm gonna need somewhere to go when I drag home some young slut-piece from the next time Avicii comes to town. Since they've only sold a measly 20 out of 132 units, I figure that penthouse has come way down from its original $2 mil right into my range, or I could even buy up a few empties all in a row and take those thin, art-deco walls to Demolition Town. Hell, with their desperation and my star power and appeal, they'd probably throw in an extra unit just for being me. Could even throw some free web advertising their way if I need to play a little hardball. Just don't give me anything on that west side. Views of Grand Prairie and the west sun are for renters and maintenance personnel. House and WWCD... going down in flames together. Well, we can re-work the slogan. Either way, let's get it done!

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