Get personalized service of a five star world-renowned hotel and be a proud owner of an urban loft... enter the Four Seasons Private Residences. Located downtown at 1110 14th St., it is walking distance from the best of Denver's culture, sports, restaurants and nightlife.
Here you are guaranteed fantastic city and mountain views since the loft apartments are located on floors 18 to 45. Four Seasons is well known for their superb architecture and contemporary design. Every inch of the residences has been carefully designed by the award-winning Clausen-Chewning group.
These luxury lofts include one to four bedroom floor plans ranging from 964 square feet to 5,171 square feet. Miele and Bosch are among the elite brand name appliances found in the lofts.
When the Four Seasons’ high-luxury apartments were still being constructed, New Era Group took clients through the showroom and interviewed sales managers. People were impressed with the apartments, but not with the price points. Initially, the condos were priced at $3.9 million or $780 per square foot and the agents at New Era Group were able to find better options in the Denver marketplace for their clients.
You might think because it’s the preeminent building with the finest finishes that people with money simply had to have it. This turned out not to be the case. Whether it was the best thing out there or not, until the prices were brought inline with the Denver market, the units didn’t sell.
The idea of building such high-end condos in Denver was originally thought up by Jeffrey Selby and Michael Brenneman a decade ago, with the idea of selling units for an average of $1,080 per square foot. As construction began in 2007, 48 of the 201 units had been pre-sold, but not closed. Only 16 ended up closing before the market took a five year plunge. It wasn’t a good start for Denver’s luxury real estate market. With an uncertain market, the investors lost a lot of contracts and condos sat empty for several years. The market had softened, putting luxury buyers on the sidelines. Eventually the Four Seasons restructured the debt and cut prices significantly; in some cases over 40 percent on the original offers.
Whether a small home owner or an internationally recognized real estate giant, timing and pricing is everything. The Four Seasons’ re-negotiations on the debt was necessary and the timing turned out to be perfect. The revised pricing came at the same time that the Denver market was seeing extremely low inventory. New Era Group knew sales were going to happen quickly once prices were cut. The Four Seasons went from nearly no sales to selling one or two a week at value or just below. New Era Group was able to help two clients purchase beautiful lofts at the Four Seasons and at the right price.
The Four Seasons lofts are clearly a head above the competition as the best product available in Denver. Loft owners have access to the highest amenities that include all the hotel services, as well as the maid services. They are allowed to keep tabs open for the restaurants and the spa. Plus, they have private accommodations outside the hotel’s services like a workout facility. But the moral of this story is that even with an international reach, that’s only one piece, timing and price has to be right for the times to sell.
Buyers are still savvy and want to make smart investments. Period. This building is a wonderful addition to the Denver skyline. We are looking forward to resells in the future.
The Four Seasons Private Residences are beautiful. Contact us to find out how to be part of this service-rich lifestyle!