Orlando’s original high rise condo tower built in 1985 offers 92 condos of 1 bedroom 1 bath, 1 bedroom 1.5 bathroom, 2 bedroom 2 bath and 3 bedroom 2 bath penthouse units with 2795 sq. ft. each condo has either one or two assigned secured and covered parking spaces. The location of the tower is great, walking distance to downtown and Thornton Park and the shores of Lake Eola and great restaurants and entertainment venues, cafes and even a grocery store is close by.
The real estate condo market has been challenging for 530 East Central where condo values have again dropped over the prior year 2010 from $197,500 per unit to $155,600 in 2011 or 21%. The per sq. ft. price dropped from $134.49 per sq. ft. to $113.49 per sq. ft. in 2011 or 16%. Unit sales stayed at par compared to past year, at 5 units.
As of this writing January 2012, there are currently 7 units for sale, average asking price is $291,571 or $159.50 per sq. ft. , 4 of the units are in short sale.
- 6 condos with 2 bedrooms, average asking price is $207,000 or $138.40 per sq. ft.
- 1 Penthouse condo 3 bedroom 2 baths, asking price is $291,571 or $285.87 per sq. ft.
The condo market in the downtown Orlando area is going to be challenging for 2012, although some developments like the Vue have already seen price appreciation and sales have doubled, this is not going to be the case in all developments.
This looks like a great community and yes prices are down all over. However I think you will do well here in 2012 Good luck with this product. E
the Vue is a MUST SEE for Condo's in Orlando. I took a tour when it was brand new and it is MAGNIFICANT. This place is worth the money with all the amenities it has to offer. Call Gitta for all your Orlando needs.
Great post! Very nice Community at great prices!
Thanks for sharing,
Adam