No Vue For Michael Jordan

It has been awhile since we looked at comps for the Vue Charlotte, so I thought it might be time to do one since today’s big headline is that Michael Jordan has some new digs in Uptown! Let’s see what he got; how much he paid; and compare it with the 4 sales so far at the Vue. An article describing the sale can be found online in today’s Charlotte Observer entitled: Jordan buys uptown condo in Charlotte.

Jordan’s condo was 7250 square feet according to the MLS listing. He bought it at the Trust, which is at 139 South Tryon and is a true luxury condominium. He purchased and combined 2 Penthouses on the 7th floor. The condo went through 1M in renovations according to this article in the Charlotte Business Journal.  According to another article in the Charlotte Business Journal found here, he put up 553K in earnest money.

The MLS Listing that describes the property can be found here.

Here is how the math comes out on a price per square foot basis:

Sale Price: $3,147,166

Square Feet: 7250

Price Per Square Foot: $434

The MLS description says this unit is for the buyer who “requires the highest level of , luxury, exclusivity, and privacy.” Everything was customized, and he even had a private elevator to his residence installed. In the Charlotte Observer article above, there is a picture of his master closet. Please compare it with yours to get an idea of what you are comping against when you price the Vue ppsf to the Trust.

We currently have 4 published sales in the Real Estate Lookup database (yes, buyer #4 recently showed up!) Here are the prices psf paid so far.

Unit Number Square Feet Price Per Foot
405 571 403
807 571 473
1402 820 415
3307 2125 518

I don’t think that the Developer took Michael’s sub-zero refrigerator away. Nor did he lay his washer-dryer on a bare concrete floor. And as you will see, his closet is not made up of a simple wire shelf.

This unit is indeed a true “luxury” condominium. For those that have written me criticizing the Vue’s quality as compared with other units in town, this will be another example for you to point to.

Michael is also building a 28,000 square foot residence in Jupiter FL. I would love to pay him a visit when it is done so I could do a first hand comp on that!

Have feedback? Please provide in a comment or to Vuebuyer10@yahoo.com.

Also, I would like to thank the reader who provided a very detailed comment yesterday disagreeing with some of the items on my Christmas list. The blog welcomes all feedback, whether you agree or disagree with the posts, so I encourage all to participate. The more points of view we hear, the more informed we will all be. Happy Holidays!

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