There’s a sale going on Saturday that’s drawing a crowd.
Dozens and dozens of people gathered some 16 hours before the sale even begins.
What’s the buzz? A new condo project to be located in Kakaako.
Some people had a hard time keeping their eyes open. Others, not so much.
“Woke up at 3:30 a.m. and I got here by 4:20 a.m. So, I was the first one in line luckily. It was pitch black,” prospective buyer Sheldon Lau said.
Lau says he has his eyes on a one-bedroom unit.
“The reason I’m buying here is because one, the developer puts out a good product. And the unit I’m interested in is the one bedroom, which I think is definitely undervalued,” Lau said.
One-bedroom units will start in the high $300,000s. A two bedroom will run in the mid $500,000s to start. And three-bedroom units will open in the mid $700,000s.
“Our target was the local market. So, we designed the units with the location to be able to walk to town and to the surrounding areas. We designed it for local people, so we wanted to price it that way also,” A&B Properties Senior Vice President Rick Stack said.
The tower will be on the old Comp USA site at the corner of Ala Moana and South Street.
Also standing in that line were a number of real estate agents.
“I’m waiting for some clients who are looking to get a place here, who are moving over from the Big Island,” realtor David Buck said. “What excites them about it is every unit is going to have a lanai, and they also want to have proximity to Chinatown, walking distance to Chinatown.”
The Collection will be a high-rise condo, town homes, even some retail space in an ever-changing Kakaako.
“This is where it’s at as far as all the new development goes. You know, you’ve probably heard there is a bunch underworks,” Buck said.
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