Aerie Homes Asking $14M to $16M

CORONA DEL MAR, CA-Industry sources unrelated to the deal tell GlobeSt.com that the asking price for each of the seven luxury homes in the soon-to-be-built Aerie development here is between $14 million and $16 million. Developer Richard Julian of Advanced Real Estate Services tells GlobeSt.com that only three of the seven homes are now available for purchase and that buyers will be closely screened for eligibility.

Julian says that the project should have a positive impact on the submarket, “first of all, because we’re decreasing density—going from what is now 15 units down to seven—so there is no negative traffic impact.” He says that his firm is doing several things to upgrade and increase value to the area itself, such as augmenting power lines, fixing up the street out front and adding a significant amount of parking.