Sulja Bros. Building Supplies, Ltd (SLJB)

[YankeeAce]

I was checking out that site where the Ambrose Building is listed. Is anyone else bothered by the price comparisons between LFWK and other nearby lofts for sale? Just around the corner on 3rd and Church are the Church Street Lofts. The 2bed/2bath range from $289,000 to $389,000 and they have sold 13 with 4 more listed. The Kress is a popular building in the area (about 2 blocks away) and their one beds are listed at $179,000 and their 2 beds range from $249,000 to $359,000. They have sold 19 with 10 more listed. The Lofts at The Exchange is practically right next door and they listed 47 lofts and only one remains for sale. The one left is a one bed and lists for $247,500 (1,100 sq ft). The Art Avenue Lofts are just beside The Kress and their one beds range from $189,000 to $259,000 and their two beds range from $249,000 to $349,000 (2.5 baths) or $429,000 (two terraces).

Last month I saw that two of the Ambrose Building lofts were listed at $129,000 and $139,000. Now these were only 1bed/1bath with a private patio. These two lack the terraces of the competition, but why the $40-$50,000 difference? I understand competing on price but these lofts are no moving any faster then the competition. IMO loft buyers prefer the higher prices because they view it as a prestige thing. If that $40-$50,000 difference is spread over the entire project we are missing out on over $800,000 of additional income ($320,000 for LFWK's 40% interest). Any comments?