There once was a TV sitcom about an upwardly mobile African-American family called The Jeffersons that ran from 1975 to 1985. (It was a spinoff from All in the Family, if you care about that sort of thing.) This was the theme song:
Well we’re movin on up,
To the east side.
To a deluxe apartment in the sky.
Movin on up,
To the east side.
We finally got a piece of the pie.
George and Louise Jefferson moved from a duet home in working-class Queens to a big apartment in a ritzy doorman building, somewhere in Manhattan’s East Side. Can you imagine them singing that song of triumph and accomplishment if they had found the way to San Jose instead? No, neither can I. Too bad nobody told the developer who brought us today’s featured listing.
Beds: 2
Baths: 2
Sq. Ft.: 1,345
$/Sq. Ft.: $394
Lot Size: -
Property Type: Condominium
Style: Contemporary
Stories: 9+ (High Rise)
Year Built: 2007
Community: Central San Jose
County: Santa Clara
MLS#: 81027052
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 21 days
Destined to become an iconic landmark rising 23 stories above San Jose’s fashionably city center, these 213 exquisite one-, two- and three-bedroom residences are available for occupancy! 24/7 doorman, rooftop pool with spa, gym, and clubroom. Sales Center open daily 11am – 6pm, closed Wednesdays.
San Jose is definitely short of iconic landmarks. There’s the statue of Quetzalcoatl, and there’s, um… I suppose we should cheer The Mark Company for even trying.
Fish don’t fry in the kitchen;
Beans don’t burn on the grill.
Took a whole lotta tryin’,
Just to get up that hill.
Now we’re up in the big leagues,
Gettin’ our turn at bat.
As long as we live, it’s you and me baby,
There ain’t nothin wrong with that.
You might ask, “Why is anyone opening a luxury apartment tower in the middle of the worst economic situation since the 1930s, where there weren’t even any TV sitcoms?” And there is a very good answer to that question! 360 Residences started taking deposits in 2007! Remember 2007? Anyone who could fog a mirror could get a loan, and anyone did. And that is why someone thought there ought to be a luxury apartment tower in downtown San Jose. Maybe they figured the Jeffersons would get tired of New York winters and surly sidewalk denizens, but still would want to live down the hall from wacky neighbors and a tip-cadging doorman.
Rosy views were still the norm in 2007, and here’s what the project director of another luxury apartment building in San Jose had to say about the economy, back in 2008:
McGoff also noted the depressing effect of the housing slump on San Jose, but suggested at least some of the problem is political, rather than economic.
“It’s the nature of the politics of a presidential election cycle that everyone is just holding off until the outcome,” he says. “I still think it’s a very good market in San Jose, but it’s at a time and a place where people are hedging their bets.”
Yes, you could say bets were being hedged, 360 Residences was delayed for many reasons including a building inspectors strike and soil liquefaction onsite. Oh, and some problems with the lender and two million dollars worth of liens. You know it’s not a good day when the promised financing on your huge construction project is taken over by the FDIC.
Despite selling 90 of the units, the economic downturn has led some would-be buyers to move on and (unsuccessfully) ask for their deposits back. But their loss is your gain, as prices have come down! 20 percent instant equity, baby!
Don’t quite like this unit? Check out the different apartment types available if you want to be movin’ on up. Perhaps you’d like to be more in the sky than this third-floor unit. Perhaps you can! There are 213 to choose from, including six penthouses, and one has to have your name on it! It better! Association fees are $655 a month for this two-bedroom condo. Now how long will that pool will stay heated if nobody moves in and starts paying them?
Ralph the doorman says please move in, he needs the tips.
Well we’re movin on up,
To the east side.
To a deluxe apartment in the sky.
Movin on up,
To the east side.
We finally got a piece of the pie.
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It’s closer to ennui crossed with sticker shock.
