Selling Condos at the Mall

You can get just about anything you want at your local neighborhood shopping mall, from any number of department stores or kiosks. Turns out you can buy a condominium there, too.

CondoOutlet recently announced its opening at St. Johns Town Center in Jacksonville and compares its business model to other big-box retailers such as Ikea, The Home Depot and Costco. The 10,000-square-foot showroom contains two full-size condo models, with prices starting at $59,900.

“People are not looking in the real estate section of the newspaper today, so we are bringing real estate to them,” says Roman Bodnarchuk, CEO of N5R Realty Advisors LLC. “We located CondoOutlet in one of our nation’s most trafficked malls knowing shoppers will enter our condo store compelled by the tangible pricing.”

Bodnarchuk adds that CondoOutlet offers a seamless way for people throughout the US and Canada to buy a primary residence, second home or investment property without having to deal with auctions or negotiating with banks. Maybe this concept isn’t all that unusual considering they sell cars in malls, but the question remains how many people are in the market for either in this economy.