Prices for apartments in the Elysian Tower in Cork will range from €375,000 to €2,000,000.
Apartments vary in size from 2,600sq ft (€1m) to 3,200sq ft, with the €2m one sized at 3,300sq ft. Smaller 700sq ft apartments with one car parking spot will go on sale for the guide price of €375k.
There are 212 units altogether.
The question is, with more houses for sale than ever in Cork, will anyone pay these prices for apartments?
There are houses down the road in Blackrock and Ballintemple going for cheaper.
Full details on this scheme with pricing etc on the front of todays Irish Examiner - not on their web site though. According to the article O’Flynns embargoed the prices to the media (which the examiner chose to ignore). Is anyone foolish enough to pay 2 million euro for a penthouse apartment in Cork?
The offical launch for the great unwashed is on 17th Sept while the elite are getting preview viewings over the next week or so.
Whatever about the penthouse purchase… it could be something Michael Flatley might pick up… but the apts starting at 375? If you’ve seen the development you will notice that the vast majority of it is pretty average. The Tower is pretty much the only unique selling point and most of the units aren’t part of that but instead are part of the general development. Why would you pay 375k for a 2 bed (assuming they are starting at that for 2 beds and not 1 beds) that is right over a constant traffic flow? I wonder will we be seeing these pop up under the AH/Social housing schemes in the future. Coz once Joe Punter doesn’t buy them I’m sure the Cork City Council will explain to the great unwashed how they couldn’t miss the opportunity to buy into this development. Starting at 225-250 should be more like it.
I dreamed I moved among the Elysian fields,
In converse with sweet women long since dead;
And out of blossoms which that meadow yields
I wove a garland for your living head.
Danai, that was the vessel for a day
Of golden Jove, I saw, and at her side,
Whom Jove the Bull desired and bore away,
Europa stood, and the Swan’s featherless bride.
All these were mortal women, yet all these
Above the ground had had a god for guest;
Freely I walked beside them and at ease,
Addressing them, by them again addressed,
And marvelled nothing, for remembering you,
Wherefore I was among them well I knew.
I wonder how they value the parking spot at 50k?
It must be one of the most expensive parking spots in the country.
It’s only a matter of time before these crop up under the AH scheme IMO.
Who in Cork will spend 375k for a 1 bedroom apartment in the city center? Or more precisely, who in the city with 375k to spend would want to buy a 1 bedroom apartment over a decent 3 bedroom house?
I must contact the selling agent to see what discounts they are offering
So on top of the 2m you fork out for the penthouse… you’ll need 20k just to pay your service charges
I really would love to know what their target market in Cork is?
This isn’t some D4 area … and I’d love to know how they will stop the basement car park from flooding when the river does.
Wouldn’t it be terrible if your Bentley got soaked when you thought you were safe up on the 17th floor.
"and I’d love to know how they will stop the basement car park from flooding when the river does@
When I was a kid the City baths were literally across the street, maybe the car park is dual purpose
this question isn’t specific to the Elysian Tower in Cork but I suppose its the one that first comes to mind when I think of this question…What will happen all the apartments and houses that have been transferred to Nama, excluding the ones that are in ghost estates and may be knocked. The Elysian was buillt at a cost of €150M and is built to a decent standard but surely you can’t leave apartments or houses for more than a year or so without somone living in them?
will these finished houses and apartments hit the market this year?
My understanding is that the Elysian apartments still have their original asking prices. Obviously the building must be in Nama. There is at least one other Nama estate that I know of and the prices there are also reflective of boom prices(slight reduction but 3 bed semi for 235k 20 mins from cork city). What i’m getting at is that people often mention about Nama properties getting released on the market that will cause an overall drop. Is that to say that it is only a matter of time before Nama force the hand of developers and make them significantly reduce prices of properties i.e. Elysian and other estates currently on the market.
whatever they decide with regards to development land is one thing, they can sit on it forever and hope to achive a better price in the future rather than sell it at the current market value, but they have to make a decision very soon with regard to finished apartments and houses in my opinion as you can not leave units standing idle long term as you will start to have issues with damp and mould if they are not heated and vented regularly (i think?)
A source close to Mr OFlynn said that it would be two years before the market got back normal and that they were happy to “mothball” (that was 2010) I assume these are in Nama so whether Nama are prepared to let this towering hunk of darkness sit unoccupied on the city skyline remains to be seen
They are indeed identical to the original asking prices! Strangely the €2 million penthouse that was breathlessly annouced in the paper as being sold is still available The service charges are €2.5 per sq foot so a tasty €8260 per annum for the largest flat.
Going by Cork prices at the moment you should be able to pick up three 3-bed semi-d’s for the cost of a two bed flat in the tower and save yourself those service charges!
The service charges are €2.5 per sq foot so a tasty €8260 per annum for the largest flat.