The Skyline at MacArthur Place, the unoccupied 25 story tower of condos built alongside the 55 freeway in south Santa Ana, sold Friday for little more than a third of the project's original value, the project took a bath.
The price was $128 million, just about 55 percent of the $233 million construction costs, In August owner Nexus Cos. valued the project at $350 million.
The building is 270 feet tall, Skyline's two buildings are the tallest residential towers in Orange Count, and the fourth tallest buildings of any type.
Now that is quite the tail of a great buy.
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