About Phoenix's One Lexington Place

Brian Dunshie - 480.522.6818 Russ Lyon Sotheby's International Realty
            Scottsdale Waterfront Office
            http://ArizonaParadiseLiving.com
            http://UrbanPHX.com
            

Brian's Trade Mark Slogan " Specializing In YOU...and Your Next Castle!!! "

Some people are calling it downtown, some people say mid-town but, either way, there has been a lot of excitement over the One Lexington project on Central Avenue, just south of the light rail station at Osborn.

Last night, I got to meet with the developer of the project to hear, first hand, what people are talking about. We also toured some of the models and heard more about the future plans. I got the sense that he really does like the area and believes in the quality of the project.

Currently, prices are being promoted for the units as follows. ( from builder price sheet)

$164,000 -$207,700 for one bedroom units

$234,000 – $322,900 for two bedroom units

$414,300 – 546,000 for three bedroom units

Penthouse pricing should be available soon. There will be 6 Penthouse units ranging in size from 1653 square feet up to 2846 square feet according to the on-site sales associate.

During a recent tour of One Lexington I noticed amenities such as a very comfortable pool and spa area complete with barbeque grill, an owners’ lounge for gathering with friends, an expanded fitness centre, street-level yoga studio, and standard features such as 11-foot-10 ceilings, custom Italian cabinetry, Kohler fixtures, Bosch appliances and bamboo flooring.

They had an initial “grand opening party last Saturday and the response to their pricing is said to have been great. ( 20 contracts in the first week per the on site sales team) Take a look at these photos I have taken of One Lexington, the views are great and I think the floor plans are very functional, as well. For condos, you sometines feel cramped with small closets and bathrooms, at One Lexington, most of the units flow very nicely. Check out the pool, fitness area and private lounge for residents, they are really nice.

I have a feeling this project will make sense for many different types of people. Obviously, you have the urban enthusiast but there will be people looking for a second home, people that want a home near ASU, maybe retired people looking to be near the Arts communities and on an on. Thanks to the light rail, the possibilities abound. Take a look and let me know what you think!

Soon, the units will be entered in to the mls system and they will continue on their marketing push to get these units sold. Be sure to contact your favorite real estate agent before heading over to One Lexington! :-)

Here is a map of the location showing it’s proximity to the light rail line. It also shows the parking garage which, many say is a bonus as other “similar” developments often struggle with parking.

View One Lexington in a larger map

Today signage was changed and banners hung on the midtown Phoenix high rise condo building that was until today known as Century Plaza. The new name is One Lexington Place.

Last week the financially crippled high rise community was sold by its construction lender, M&I Bank to Canadian company, Macdonald Development Corporation. We Know Urban Realty expects the remaining 130 condominiums to go back on the market soon (evidenced by the brand new banners announcing "new ownership" and "reduced priced" condos).

Over the last year, investors had approached our company asking for help in determining sales values of the condos. Most investors we talked to were looking to offer two bedroom condos at the high $100k range and one bedroom condos at the mid $100k range. We have yet to see at what price Macdonald will offer the units. Stay tuned....

Will Daly, Broker
We Know Urban Realty
(480) 510-8755
Will@WeKnowUrban.com