New Year starts with a price cut for Echo Park condos

Selling homes on Sunset Boulevard Echo Park has proved tougher than expected. In October, the loft-style Sunset Five opened up near Portia Street, with the units priced as high as $649,000. It is one of the first for-sale projects to have opened up on Sunset Boulevard in Echo Park and Silver Lake as developers seek buyers who are not afraid of busy street life. But, despite some eye-catching interiors and an early price cut, there have been no takers. So, shortly after New Year’s, the Sunset Five slashed prices again – at least $40,000 on one of the more expensive units. In addition, said agent Christopher Furstenberg, two of the units quality for FHA loans. Perhaps lower prices and the new year will do the trick.

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