Thread: Marquis towers El Cangrejo any info ?

Has anybody any knowledge of this condo block, I know where it is and have been looking at some apartments online they are priced ok and I like the location.

169 for a 2 bed
180 a 3 bed fully furnished, great rental because of location 2 year old building.

Any info helpfull

Cheers

If you are patient, you can get the 3 bedroom unit for $140k. The prices you are quoting are too expansive.
I know the Marquis Tower and it's an excellent location.

I have been renting there for 2 years. Great location, well run building, nice owners/tenants. One side has views of the city skyscrapers but faces Via Espana, the other side faces inland. I face the city / ocean and love the views at night.
gary

Thanks for the responses. 140k thats a good price for a 3 bed, I agree a great location, I always stay at the Torres De Alba and can see the block depending on what room or tower im in they are a bit cheaper than condos in San Fransico as well as Obarrio from the 1s I have looked at whats the reason for this I wonder?

Gary can I be cheaky and ask you, are there any posters in the building that are from owners wanting to sell, if so will you let me know what prices they are asking. Most gratefull. As stated previous the prices vary quite a lot.

Cheers

About a year ago, I saw one city facing(north) unit on the 29th floor. It was furnished and the owner wanted $150k,so with some negotiation, he would have sold it for $140k or maybe even less.
You have to be patient,you'll find it. But Marquis mustn't be your only choice, there are so many other well situated condo buildings out there.

Yes I know my options are endless, however I think this condo block has a lot going for it

Walking distance to great action
great views with a limited chance of another building been built and blocking the view, lots of low rise units surrounding it
1 of the better areas for traffic (well kinda)
very good priced units.
IMO 1 of the better safer areas around

But like you say lots of other well appointed condos around, just have not seen any 3 beds for less that 150k

Originally Posted by tompoker

Yes I know my options are endless, however I think this condo block has a lot going for it

Walking distance to great action
great views with a limited chance of another building been built and blocking the view, lots of low rise units surrounding it
1 of the better areas for traffic (well kinda)
very good priced units.
IMO 1 of the better safer areas around

But like you say lots of other well appointed condos around, just have not seen any 3 beds for less that 150k

I think the fact that this particular property is not being negatively blasted (a la SeaWaves, which also has an excellent location, has very good pricing, but has been consistently panned by many in-the-know because of poor finish out and construction issues) by the informed folks on this board is good! Let us know what you find out from your own inspection and discussion with real estate professionals.

It would be helpful to know the size in meters for these units.

Originally Posted by tompoker

Has anybody any knowledge of this condo block, I know where it is and have been looking at some apartments online they are priced ok and I like the location.

169 for a 2 bed
180 a 3 bed fully furnished, great rental because of location 2 year old building.

Any info helpfull

Cheers

Will do,I did look at seawaves on a recommendation online 3 beds last year were 200k, I also saw that in 2009 off plan they were asking 140k - 155k for a 2 bed now in the 180k

The one that I saw was the 3 bedroom unit,103 sq.met.
The 2 bedroom unit is 83 sq. met.
Personally, I would never pay more than $1400/sq. met for the Marquis condos.

Tom, I find that if you speak to the maintenance guys (assuming they are with it), they usually know what's going on in the building.

If anyone knows of a rental in that bldg., pls. let me know. I haven't seen it yet, but I assume I've passed it many times.

Thanks


Michelle

I know someone who bought there and whilst a nice building and in a fairly quiet location for El Cangrejo I wouldn't be in a hurry to pay more than $1,400 M2 either. Always fancied the Luxor myself and it should be worth looking at for any good deals during completion.

Meanwhile, here is an optimist wanting $235,000 for a 3 bed in the Marquis.

http://panama.en.craigslist.org/reo/2444733701.html

However, he informs us that "The economy is strong in Panama; it's just the good time to invest!".......

This 1 caught my attention first, Beautiful upscale apartment, spectacular views, downtown. Sweet deal!

Here is a rental in the building, however I have seen them for 1400k a month somewhere ,http://panama.en.craigslist.org/reb/2445996916.html

Originally Posted by Contrail

Meanwhile, here is an optimist wanting $235,000 for a 3 bed in the Marquis. However, he informs us that "The economy is strong in Panama; it's just the good time to invest!".......

Ha! Must be true -- read it on Craig's list! Meanwhile, his competition is a penthouse in the same building for $320,500 -- $1,479/sq mt.

Penthouse - Panoramic Views - Panama Realtor

Originally Posted by Contrail

I know someone who bought there and whilst a nice building and in a fairly quiet location for El Cangrejo I wouldn't be in a hurry to pay more than $1,400 M2 either. Always fancied the Luxor myself and it should be worth looking at for any good deals during completion.

I see listings for Luxor units once in a while, but not often or ever in high quantities. Doesn't seem to be any buyer or developer panic like, oh, maybe TOC?

Here is my best advice.

Do not focus on price alone.

Many here who tell you that they will not pay more than $1400 M2, will never buy an apt. Cost of construction keep going up, and prices are going up not down.

Find a great apt in a great building, and be prepared to pay the average price which is around $1600 M2.

Some people have condos in the same area that you're trying to buy. These same people want to believe that their condo is worth more than it really is.

Propertys in general are overpriced anyway.

Its always a difficult decision, I am looking for property around 160-200k ,2-3 beds has good rental potential and somewhere I can spend a couple of months a year hanging out, also looking for a deal so hopefully it will go up in value.

Coming over in a month or so to have a good look as well as complete my residency application ( if my lawyer gets his but in gear)

Hi Tom,

I hate to bring a more negative vibe to the opinions of Marquis, but I've looked at a couple in that building and wouldn't buy there unless I received an absolutely fantastic price. Go take a look at the common areas in Marquis and you will quickly see the shoddy construction. The last time I looked the swimming pool was a MESS and the place is practically new.

Negative or positive all are welcome, cheers, just looking for honest replys .

Interesting you say that about the mess as I did read online that somebody thought the place was a bit untidy

The location is great, the staff is very nice but for the bulding itself, I agree with AlbyM...

Originally Posted by Thegreatoggy

The location is great, the staff is very nice but for the bulding itself, I agree with AlbyM...

What a shame for the owners that management won't exert sufficient effort to maintain the common areas.

This reinforces my point.
If you are focus on getting an amazing deal ($1400 m2), you will end up with an average apt, in a lousy building.

Instead, look for a unique apt in a great building.

Originally Posted by BalaBeacher

What a shame for the owners that management won't exert sufficient effort to maintain the common areas.

The problem isn't the maintenance, the 2 guys in charge of it are doing a great job IMO.

The lack of effort was during the construction phase...

Yes, the problems happened during the construction phase. Procassa, the developer, didn't do a very good job on the the Marquis. However, I'm a fan of another of their projects in El Cangrejo called Kubik, which overlooks Parque Bello.

Off track, but anyone know what the high-rise (presumably--last time I was there they were still pouring concrete for parking levels) on Ave. 1aA Norte? This street dead ends into Via Veneto at the hotel. The building is on the north/west side of the street near. It's not directly on the corner of Via Veneto and 1aA Norte but very close to it.

Bala, if you are referring to the new building behind Manolo's restaurant, that's going to be a hotel, Victoria is the name I believe. That's the only building that I can think of in the area you are describing.

Originally Posted by Cirederf

Bala, if you are referring to the new building behind Manolo's restaurant, that's going to be a hotel, Victoria is the name I believe. That's the only building that I can think of in the area you are describing.

Yes, that's got to be it. Thanks.

Wow. Another hotel.

Yes another hotel in that area, the street has lots on already, Venetto is going to get busy. last time I was there around carnival the hotel was going up quickly.
I looked at the new apartments next to the bristol hotel, also just off samuel lewis another hotel going up cant remember the name the sign did say.

All the new buildings on Balboa, I think a hilton is going in aswell.

Place is getting busy!!

Originally Posted by tompoker

Yes another hotel in that area, the street has lots on already, Venetto is going to get busy. last time I was there around carnival the hotel was going up quickly.
I looked at the new apartments next to the bristol hotel, also just off samuel lewis another hotel going up cant remember the name the sign did say.

All the new buildings on Balboa, I think a hilton is going in aswell.

Place is getting busy!!

No kidding. I understand the ones started long ago, but to see new ones still coming out of the ground is very surprising.