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Rebounding Portfolios Equals Condo Sales

DENVER-Condominium sales at Swallow Hill and other upper-end developments follow the NASDAQ, opines Grey Star Development managing partner Don MacKenzie. Sales were unaffected by Sept. 11, he adds.

By John Rebchook | Updated on November 27, 2001

DENVER-Don MacKenzie, managing partner of Grey Star Development, has an easy way of tracking the health of the upper end condo market. ”The condo sales market in this city follows NASDAQ,” McKenzie, who is developing the Swallow Hill Condominiums in the Uptown neighborhood east of the Central Business District, tells GlobeSt.com.

”If there is one indicator that you are looking at to determine if people want to buy, it would be how well their stock portfolios are doing,” he adds.

Swallow Hill at 1630 Clarkson St and 1631 Emerson St. is the largest single condo project underway in Uptown. It includes a seven-story and a five-story building with a total of 104 luxury condos, priced from $245,000 to $600,00. It is scheduled to be completed in the fall of 2002.

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