urbanSTL

either pyramid isn't updating the site or this thing isn't selling. discuss.

I heard they have a model unit under construction. I'd guess that the sales will take off after they have something to show.

AvantStL wrote:I heard they have a model unit under construction. I'd guess that the sales will take off after they have something to show.

According to this they're almost sold out: only 8 out of 59 units remain.



http://www.bankerslofts.com/pricing.html

That is the Bankers Lofts

Downtown2007 wrote:That is the Bankers Lofts

Why don't we have a shoot myself in the head emoticon?



Sorry: my bad. The Bankers Lofts link was in an email from Leather Trades: it would help if I could actually read.

Ok... looks like we need both a "Shoot oneself in the head" and a "Can't read" emoticon. Let's get going on those, for now we can use the "hit oneself in the head with a hammer" emoticon.

I know someone at Pyramid and got to take a sneaky peek at their new Leather Trades model unit over the weekend. Looks really good - one of the last "loft style" new projects out there (everybody else is chasing after the moneyed baby boomers with their super finished units - this is more for someone who's looking to get into a real loft.) Lots of BIG windows. Good layout. And they used a leathery floor material (upgrade) in one of the bathrooms that I'm dying to get my hands on! They're going to have a party to debut the model in September.

On their website the top banner has the following:

Preview Party for

the Leather Trades'

new model unit

Sept. 6, 5:30-8 PM

Their "Progress" tab also has a new photo gallery dated 8/8/07. Should be worth checking out.

^

I may try to head over there tomorrow.

I'll be there and will also take a few shots. I bet the display and that particular floor plan look great.

i bet the drinks were tasty. k, they were and they were priced right. same as the appetizers. place was nice. lots of realtors hangin round the place, spying on their prey.

I attended the opening last night and thought the unit was great. I was surprised that the ceilings were so nicely finished (original plaster). The model unit is on the NE corner and there are lots of big windows. I bet the views from the upper floors of the SE corner would be especially cool. Simply Fondue did the catering and the food was really good.

Hopefully they sold a few last night - according to the web site, only three have been reserved so far. We need Pyramid to experience continued success so that they can move on to other projects.

Agree on how nice the windows were. Amazing what a bank of CLEAN windows can do for a place. The space looked great as well, and having only one bedroom in the place certainly helps the layout look really spacious. I'd still have a hard time dropping nearly $300,000 for a one bedroom second floor loft. I especially liked the kind of old feel of that style of window mixed with the modern feel of the interior decor.



And the food was utterly delicious!

That was certainly nice of Simply Fondue.

DeBaliviere wrote:Hopefully they sold a few last night - according to the web site, only three have been reserved so far. We need Pyramid to experience continued success so that they can move on to other projects.

I don't think that list is very current.

anyone know whats up with this project?



The construction fences have been taken down.



inside looks bare



did they just build out the display and are waiting for sales to really start?



or has this stalled?

Does anyone have any info on this development? Website has only 3 reserved and I do not see much action lately.

From what I heard back in October Pyramid is waiting to finish a couple projects first. They are almost done with the Dorsa Lofts, so maybe they might use that crew? If I remember correctly, they said about 2 more years until completion. (they have to gut the whole thing, add water, sewer, ect...)

Glad to hear it's still in the pipeline.

What's the average time for completion of a project like this when you have buyers lined up?

This Pyramid project is dead.







[edit]I guess this is old news!



http://www.urbanstl.com/viewtopic.php?t=5710

It's ALIVE!

Friday, July 25, 2008

Chicago lender takes over Pyramid's Leather Trades

St. Louis Business Journal - by Lisa R. Brown



Workers Realty Trust, Pyramid Cos.' lender on the Leather Trades Lofts building downtown, has assumed ownership of the vacant building and is looking for a new developer.



WRT is a real estate investment fund managed by Chicago-based Commonwealth Realty Advisors Inc., a real estate investment advisory firm with real estate assets nationwide. WRT is reportedly in talks with Craig Heller, principal of St. Louis-based Loft Works, on plans to develop the building. Heller could not be reached for comment by presstime.



St. Louis deputy mayor for development Barb Geisman said she's been in talks with four developers that have expressed interest in taking on the Leather Trades Lofts project. "There's been a lot of interest in this building as well as the other Pyramid buildings," Geisman said. "Everyone is working toward an orderly transition from Pyramid to new owners who are able and willing to do the projects."



http://stlouis.bizjournals.com/stlouis/ ... ory12.html