A friend of my mine is seriously considering purchasing a unit in the Pinnacle downtown. He is a currently renting in the East 4th area.

 

Does anyone have any thoughts or insight regarding the Pinnacle? Is noise from the West 6th bars an issue? Is the condo association well managed? Any construction defects?

 

Condos can be a headache and I think the whole Stonebridge fiasco has made him a little hesitant to purchase a condo but he wants to stay downtown.

 

Thanks in advance!

The Pinnacle is a great building, good quality, good location, nice views & such but I've heard from several owners that the association fees are outrageous and it really discourages people from buying.  Apparently they've gone up significantly too so I'd advise a detailed look at what's planned for maintenance and see what they have on reserves

JMC,

 

The original condo fees for the Pinnacle were artificially low when the building opened. I even told that to my wife that they were too low when we purchased a unit back in 2006. They have risen significantly since then but are still reasonable. For comparison, the association dues on a 1,000 square foot condo in the Grande Arcade goes for $342.00 a month (we own a unit there too). A 1,600 foot condo in The Pinnacle goes for $750.00. A 1,000 square foot condo in the Grande Arcade ballparks for around $130,000 while the 1,600 foot condo in the Pinnacle will sell for roughly $450,000. I think you'll find the Pinnacle fees are in close approximation with other condo associations once price is factored in. Original buyers at the Pinnacle were certainly sucked in by the artificially low condo fees but they just weren't feasible based on the maintenance requirements.

 

There were definitely some construction defects but most if not all of them have since been rectified. If your friend would like any more info, feel free to PM me and I'll give you my cell number and he can call me. I'll be happy to fill him in on all the details.