Talk about a sweet spot in the Saratoga Springs real estate market.
The new West Condominium development may prove one of the smartest luxury housing projects underway in this resort city. All it took was a keen vision on the part of John DiScipio, a veteran Capital District developer, and Scott Varley, the region’s leading real estate salesman and associate broker with Keller Williams.
Together, the builder and real estate pro were able to craft a stellar plan to deliver 34 new condo units plus first-floor retail/commercial space in a location that perfectly marries convenience with affordability. The West Avenue location is just off Route 29 and within 1.5 miles of Broadway in downtown Saratoga, and it allowed this development team to put together a condo offering that anticipates and answers Saratoga’s unique and shifting real estate market.
The Price is Right
“I don’t want to take anything away from downtown condo ownership, but not everyone can afford to pay $800,000 to live within three blocks of Broadway. This development allows us to drop that price almost in half, and still deliver an amenity-laden building,’’ Varley said.
Apartments at West Condominium range from 1,100 square feet up to 1,600 square feet, with prices starting at $400,000. With more than 30 years of experience buying, selling and development in the Capital District, Varley is aware of the fluctuating nature of housing market conditions.
The goal of West Condominium’s development was to anticipate a shifting pattern of sales for higher-end real estate, including the $1 million condo market in Saratoga. In previous housing market shifts, higher-end prices were impacted while the market for “affordable” $400,000 units remained strong. It’s part of the reason why DiScipio and Varley expect a brisk sellout of these new condos.
Location, Location, Location!
And, in addition to the superior cost-basis of the West Condominium development for buyers, location is also a premium. With a larger footprint to work with at a reduced land cost, convenient onsite parking is part of the deal, as are scenic views of the Adirondack foothills to the northwest. The location is also tremendously convenient for many other reasons.
“This is connected to the city sidewalk system, the bike trails, there’s a terrific German coffee shop in the Kaffee House next door, there are doctor’s offices, Walgreens, Empire College, the post office, restaurants, city bus stops and the Saratoga Springs Amtrak train station right there,’’ Varley said.
In other words, West Condominiums represents a super sweet spot for any buyer looking for a luxurious and convenient Saratoga dwelling without having to pay Broadway prices.
Your New Saratoga Condo!
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