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San Antonio: 90-unit Broadway condos step into spotlightSan Antonio: 90-unit Broadway condos step into spotlighthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=115862015-12-21T06:00:00Z2015-12-21T19:00:00Z

​​​SAN ANTONIO - Since it was built in 2009, the 21-story Broadway condominium tower has been a hard sell for San Antonio residents used to lower prices and more space.

But as the appeal of an urban lifestyle continues to grow, the property is hoping to catch onto some of that momentum. If recent sales figures are any indication, it looks like it may already have.

Sales at the property hit a record high for the year, closing $17.5 million worth of transactions, including an entire top floor to a single buyer.

By the time 2015 comes to a close, the 90-unit building at the corner of E Hildebrand Ave. and Broadway St. will be just shy of 70 percent occupancy. About 125,000 sf of residential space will remain.

The property also reconfigured some of its floor plans to begin offering a larger, four-bedroom floor plan for nearly $2 million. The 3,437-sf plan is essentially two combined units, which was a trend the building had going for a while among condo owners looking for more space.

The new units — which the property has dubbed the Imperial II and part of their Luxe Collection — essentially makes it even easier for those buyers, but also cuts down on the number of units it has left to sell.

However, as home prices continue to climb and an increasing pool of buyers are on the hunt for upscale amenities in a low-maintenance environment, the Broadway may have what they are looking for — urban living in a suburban environment.

The Broadway has units starting in the $650,000 range and going for as much as $5 million.

The market for seven-figure condominiums in San Antonio may not be huge, but as sales volume for these two properties suggest, it is getting bigger.
San Antonio Business Journal
San Antonio-New Braunfels
Housing
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