Highrises.com's Blog: San Jose Condo Market

Another high-rise building that hit the market with a big marketing splash is turning rental.  The Skyline in San Jose announced that they're halting sales and will rent out the luxury units.  Danielle Contreras, a local condo specialist, told me "I had a feeling this was coming.  They shut their sales doors not long after they opened and all activity on the proposed sister tower came to an immediate halt."

The San Jose Mercury News officially broke the story this weekend.  The developer, Barry Swenson, had to turn the remaining units at another of his developments into rentals as well.  That building, The Lofts on the Alameda, only sold 31 of its 42 units when the last 11 were rented out.

Danielle states the building had a major flaw from the start: …