Q&A: Senior presales representative Kate Giarratana
Home development company Giarratana recently released pricing details for the first 25 percent of its upcoming tower Paramount’s 140 condominiums (read Here).
Kate Giarratana
The main thing
Courtesy of Giarratana, Goettsch
1010 Owner (the legal owner of the property on which the future skyscraper will rise) has partnered with Giarratana Condominiums LLC (wholly owned by President Tony Giarratana) to manage the sales and marketing of the Paramount condominiums.
Specifically, Giarratana Condominiums engaged Kate Giarratana, a realtor affiliated with Fridrich & Clark Realtors (and daughter of Tony Giarratana), to assist with the initial sale. Providing marketing support are Fridrich & Clark partners Richard Courtney and Candida Mia, and Parks Real Estate broker Chad Wohlers.
The group is focused on selling 35 residential houses in advance: 32 condominiums in levels 41-44 and three units in level 57. The effort started Aug. 7, and the following numbers have been reported and released:
* 19 properties totaling $40.5 million and 29,824 square feet
* Presale unit prices range from $1.4 million to $8 million
* pre-sale price of $1,037 to $2,309 per foot
* average pre-sale price of $2.25 million ($1,358 per square foot).
The company expects to see full employment in the tower (it also offers apartments for rent and occupancy 1010 Church of St.) in October.
The Post touched base with Kate Giarratana – who lives at Church Street high-rise 505 (also a Giarratana development) – Monday for more information.
What was expected for the first sale during this period of operation?
Many of my neighbors in the 505 had been telling me they were planning to buy, so I knew there was a demand. The out-of-town customers have been a wonderful surprise.
In this article, what is the position of the people who keep the unit? Any international customers?
There are no international customers yet. About half of our customers are local and the other half are out-of-towners.
What percentage of future Paramount owners do you expect to live in their Paramount homes primarily or full time?
In the 505, about half of my neighbors use their condos as their primary residence. The other half use their condo as a second home and come to town for Titans or Predators games, and music and cultural venues like the Schermerhorn Symphony Center, Ryman Auditorium and TPAC.
Do you have a timeline for when you would like the first 25 percent sold?
The first 19 sold out quickly with little marketing so I would expect it to be done [with the remaining 16 residences] during the next few months.
How much does it cost to reserve a Paramount residence?
Buyers make a 10 percent deposit with the contract. Additionally, 5 percent occurs when Paramount exits.
Which is the least expensive unit listed for first and most expensive?
The most affordable house is a one bedroom, 1.5 bathroom with den available for $1 million. The most expensive property we currently offer is a 4,640-square-foot home on level 57. The four-bedroom, 4.5-bathroom condo is available for $12 million. On the 60th floor it can happen [be priced] as one unit for $35 million.
The average advance purchase price per square foot for Paramount’s reserved residences was $1,358. When you sold the first 505 units, what was the average price?
The condos at 505 are smaller than the Paramount. For example, Paramount does not offer studio condos. We originally offered 505 condos for sale in Feb. 3, 2018, with an average price per square foot of $850 but we have also sold four penthouses approaching $2,000 per square foot, including construction.
