After a hiatus of approximately 3 months, and shortly after residents took occupancy of units late last year, the Mandarin Oriental recently saw another luxury condo resold. Unit 11E in the east tower, a two bedroom two bathroom unit, sold for $2.5 million ($1,280 per square foot) on July 15, 2009.
In addition to the sale of 11E, unit 9D in the west tower yesterday underwent its third price adjustment after being listed in April for $3.95 million. This latest price reduction brings the unit a full million dollars lower than the original asking price to $2.95 million, with a price per square foot value of $1,217, which is more in line with the average price per square foot for units that have sold in the building in the past six months ($1,111, a figure substantially brought down by resale of an unfinished shell that sold at $714 per square foot).
Currently available condos for sale at the Mandarin Oriental are priced from $2,625,000 to $16,990,000 and carry a minimum of two bedrooms and two bathrooms and at least one deeded garage parking space.
Mandarin Oriental Condos for Sale: 8
Average List Price: $6,132,500
Median List Price: $5,025,000
Average $/SF: $1,759
Average DOM: 270