What a Difference a Year Makes: Artani is Back on the Market

It was a little over a year ago that the development team over at Artani condominiums (818 Van Ness Avenue) decided to pull the plug on their sales effort. Facing a challenging marketing and financing environment right after the Wall Street meltdown, they believed that the better part of valor would be to rent the units for a year and see how the market shook out.

Here we are a year later and the market has adapted to a new normal. Developments that continued to sell while Artani called it quits had success in moving product, albeit at prices that were lowered by as much as 30%. A lot of those projects are now sold out or very close to it which allows Artani to hit the market as inventory is narrowing and demand is relatively strong.

That leaves one question, how much? Sales Manager Aaron was gracious enough to give me a sneak peak at pricing.
Here's a sampling:

1-bedroom with parking starting at $489K.

1-bedroom 2-bath with den and parking starting at $549K.

2-bedroom 2-bath with parking starting at $699K.

All Artani homes come with dual pane windows, security systems, hardwood floors in the living areas, granite and s/s kitchens with gas viking ranges, fridge, stacked washer/dryer and built-in humidifiers. Units that face south and west get air conditioning and some second and eighth floor homes get large private terraces. HOA's run from the upper $300's to the lower $400's per month.

I imagine there is some wiggle room in the pricing for the 52 homes and given the quality of the finishes and floor plans these will probably sell at a steady pace. It turns out that some things may be worth waiting for after all.