We have a project of 11 luxury Condos in Olympic Boulevard in LA 90036 that will be completed in about a year.
The project was foreclosed by the bank and it is being taken by our group in about 40% from the original note price
The project will be built by a limited partnership. Each member will have to advance $180,000.
The amount of the difference will be determined by the size and specification of the apartment.
It will be paid after completion and will be between $220,000 to $250,000.
The current market price for similar luxury apartments is approximately between $580,000 to $650,000.