Thursday, October 22, 2009

Maxwell v The Constritution - How do they Compare?

As you can see from the chart, The Constitution has a better price per square at $537 v. $595 for Maxwell Place. Having said this, there is a relatively small number of sales and the difference can be the unit placement within the building of those used in this study. These are all the 2009 sales in the both buildings including those that did not go through the multiple listing service. I do feel this is a good sample and we'd see the same trends year over year between the two buildings.

Maxwell Place has better layouts and kitchen finishes. Many of the layouts in the Constitution have enclosed galley kitchens and parquet floors which are not as popular today as open plan kitchen-living room layouts and satin finish straight hardwood. Maxwell Place also has small balconies on all units. The space is small but it's one additional features that is not reflected in square footage but boosts the price per square foot in the end.

As you can see from the pictures below, Maxwell uses dark finish cabinets and light countertops that open to the the main living area. The next pic is of the standard kitchen installation at the Constitution - white appliances and cabinets in a galley kitchen style. The last pic is of resale kitchen in one of the Constitution's penthouses - lovely country design but still cut off from the main living space.

This is part 2 of 4 on our series on the cost of Luxury. Stay tuned for our review of the Tea Building and the Garden Street Lofts.

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