Quote:
Originally Posted by Kevinb
Keeping perspective: The Monarch had +/- 38 units which were priced more than the penthouses at 360. Thats 12.5% of the Monarch units that were over the mid $800's.
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Kevin, any word on why the Monarch chose to go with a mix like this? As difficult as those are to sell, I imagine they'll be even more difficult to rent out at a price that makes sense to them. It seems like they'll need 10k a month or so for each of those in rent.
Does making the whole building rentals again lower their appraised value for property taxes or will they still owe equivalent property taxes per unit at a valuation close to what they were going to sell them for?