Stonebridge Towers Condos
Stonebridge Towers offer Flats-Oxbo District new construction condos at an affordable price.
This condominium sits on the old Superior Viaduct which enables its breathtaking views of both the river and lake during the day and at night you can enjoy fireworks from Progressive Field off your balcony. One, Two-bedroom, and Penthouse condos with floor to ceiling windows, open floor plan and any upgrade you could imagine, are currently available. Multi-year tax abatement and parking included!
Stonebridge Towers is one of the original New Construction projects built post-tax abatement incentive, to grace Cleveland. Although the developer K&D, is retaining a few floors for future sales, the majority of what you will find today are re-sales. This can work to your advantage for a number of reasons.
#1, although you won't find the full 15 year tax abatement, in most cases, it is fully transferable from owner to owner so you will usually get to enjoy about 10 or so more good years of no taxes if you buy now.
#2 is bargains! The original purchasers of 06, 07, and 08 have taken the proverbial bath, so to speak, and in most cases, they have come to terms with this fact. This is good news for you! It translates into a one bedroom that sold for $150,000+ a few years ago, now being available to you for around $110,000. 2 bedroom units that couldn't be found for less than $200,000 a few years ago, are selling in the $140,000s to $170,000s. Still with luxurious finishes, and a feel that's almost brand new. Still with an unbeatable view and an association that seems, up to this point, to be very responsible in the way of making repairs/improvements, and keeping the place in tip top condition.
There is also a very evident upside to this investment. The West Bank is virtually undeveloped. There were big plans, before the bottom fell out of the lending market, for development and I believe those plans, in one way or another, will be realized in the future. This is still prime water-front property, after all.
There are some condominium developments that I won't touch, this one, because of its current value and amenities gets my sound approval. If you are looking for something with awesome views and finishes, close to downtown with covered parking for under $200,000, it can't be beat!
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