More Info: The 30-unit Terraces development opened two years ago. Eight condos remain unsold, with prices ranging from $3.5 million to $5.9 million. At the upper end are units furnished by architect Guy Dreier, whose work on Hagadone’s Palm Desert, Calif., home was featured on the cover of April’s Robb Report. The magazine touts itself as a Consumer Reports-type guide for the ultrarich on topics such as yachts, private aircraft, fashion and fine jewelry. DeLong still gives about five tours a week at The Terraces. But many prospective buyers have simply dropped out of the market, he acknowledged.
Question: Do you think Duane Hagadone will be forced to discount The Terraces to sell the final eight condominiums?