Market Update for The Following Buildings in the Golden Triangle: The Balustrade, The Belvedere Tower, Cadillac Lofts, Century Lofts, Grand Cherokee Lofts, Metropolitan Lofts, Museum Residences, Prado Condominiums, Trieste Lofts, Trovare Lofts

April 21 | Fashion Denver – 1070 Bannock

May 19 | Rooster & Moon – 955 Bannock

June 16 | Megastar – 1080 Cherokee

July 21 | Cap City Tavern – 1247 Bannock

August 18| Acoma Living – 816 Acoma

September 15 | Apple Spice Junction – 49 W, 9th Ave

October 20 | Loft Tour & Cherokee Grill – 1201 Cherokee

November 17 | Rocky Mountain PBS – 1089 Bannock

December 15| Gallery 1261 – 1261 Delaware

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THE BALUSTRADE 1200 Cherokee

This 32 unit project in the Golden Triangle took a new (non loft) approach to design.  The building is a traditional Villa style architecture with discreet bedrooms and living and dining rooms.  The project was completed in October of 1997. All of the Lofts have Gas Fireplaces and Outside Space, The first Level Condos have Private Garden Courtyards, There is also a Common Courtyard and a Rooftop Deck. There are 8 Large 3 Bedroom, 3 Bath Lofts, Square Footage from 1,900 to 2,100. 8 Large 2 Bedroom 2 Bath Lofts, Square Footage 1,400 – 1,600 and 8 1 Bedroom, 1 Bath Lofts Square Footage 950 to 1,000. The Building is One Block to the Denver Art Museum and the New Clifford Still Museum.

620 Corp. pioneered development in the Golden Triangle with its conversion of  a former multi story auto dealership building.  This building was a former Cadillac Dealership opening in the 1920′s in Denver, located on the corner of 11th and Cherokee, Across from Trieste and The Prado. The Cadillac lofts are 2 story authentic lofts with exposed brick and a large Rooftop Deck. Located 2 Blocks from The Denver Art Museum and the New (To be Built) Clifford Still Museum

Located on a corner only 1 Block From Daniel Liebskinds Denver Art Museum Expansion and the New Clyfford Still Museum, Century lofts seeks to extend the evolving tradition of modernism in the Golden Triangle. The building is redered in cast-in-place concrete, large expanses of glass and subtle shades of stucco. Crowning the Century Lofts is a frieze of hubcaps – homage to the neighborhoods roots.

Each residential loft has direct access to a minimum of two sides of daylight and the resulting natural ventilation

Golden Triangle Lofts – Grand Cherokee Lofts, 36 2 story lofts Designed by Humphries Poli Architects, Won the AIA Colorado Design Award, and Western Mountain Region Design Award in 1999 (Only Two Projects in Colorado Won That Year in the Six State Region of Colorado, Arizona, Nevada, Wyoming, Utah and New Mexico) It Also Won a Gold Nugget – Best of The West, from Builder Magazine in 2000 (The Only Project from Colorado that Year to get an Award) Project amenities include a common conference facility on the first floor.  A large private garden enclosed by Havu Gallery

Grand Cherokee, 1050 Cherokee Street

Restaurants, Bars & Clubs

Andrew’s on Lincoln
Armidas
Arbys
Bar Standard
Bannock Street Garage
Cap City Tavern
Cherokee Dining on 12th
The Church
Cuba, Cuba
Dazzle Jazz Restaurant & Lounge
Denver Pizza Company
Dozens
Funky Budda Lounge
La Rumba
Le Central
Luciano’s Pizza
Mad Greens
Melitas Greek Cafe
Opal
Palettes
Parsley
Pints Pub
Racines
Spicey Pickle
Sutra Room
Tony’s Bistro
Taste of Philly
Vinyl
Zocalo

Coffee Shops &  Grocery Stores
Aviano Coffee
Dazbog Coffee
Gateaux
Novo Coffee
Metropolis Coffee
Rooster & Moon
Tony’s Market
King Soopers
Whole Foods

Salons & Spas
Corepower Yoga
Eden II Day Spa
Denver Althetic Club
Matrix Fitness & Spa
Pilates Aligned
Rave Skin & Body
Spa in The City
Spa Universaire

Artists Studios and Galleries
Art Gineer
Art Silk Photography
Blujack Studio and Gallery
Camera Obscura Gallery
Door 74 McGuinness Studio
Gallery 1261
Native American Trading Co.
Michele Mosko Fine Art
Patrons Art & Framing
Roach Photos & Gallery Roach
Walker Fine Art
William Havu Gallery
Wilson Adams Gallery
Zeitgeist
ZModern

Museums & Cultural Centers
Art Institute of Colorado
Byers-Evans House
The C.E.L.L.
Civic Center Park
Clyfford Still Museum
Colorado Ballet
Colorado History Museum
Colorado State Capital
Curious Theatre Company
Denver Art Museum
Denver City & County Building
Denver Firefighters Museum
Denver Musicians Association
Denver Mint
Denver Public Library
Kirkland Museum
Molly Brown House Museum
Sunken Garden Park
US Post Office

Speciality Stores
Bulthaup Kitchens
Denver Community Federal C.U.
Distinctive Properties
The Collection
Flower Gallerie
The Gabriel Foundation
Howard Lorton Galleries
The Lighting Studio

$300,000 – $1,000,000 price range

1,400 to 2,500 square feet

12 Month Evaluation – 6 sold properties in last 12 months. 6 divided by 12 months equals 1 property sold per month. There are currently 11 active comparable properties on the market. 11 divided by 1 equals 11 months of worth of inventory. This means a strong buyers market.

Average Price per Square Foot | $244 | Sold Properties, Last year it was $320 per square foot

An absorption Rate of 5-7 is considered a normal market. Less than 5 is a sellers market and more than 7 is a buyers market.

Normal Market – In a normal market there is a 5-7 month supply of homes. A normal market has a balanced level of inventory where the market is not leaning in either the seller’s or buyer’s favor.

Seller’s Market – In a seller’s market there is less than 5 months supply of homes. Since there are fewer homes to choose from, sellers are in control and buyers have to be willing to pay top dollar to get the home that they want. Multiple offers are often the norm in a seller’s market.

Buyer’s Market – In a buyer’s market there is more than 6 months supply of homes. Buyers are in control since there are so many homes from which to choose from. Sellers often have to give an incentive (pay for closing costs or pay for repairs) to buyer’s to buy their home.

	Original	List	Sold	Net Sold
Average Price	$608,500	$507,817	$473,500	$471,900
Median Price	$695,000	$522,500	$490,000	$489,000