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Toll Bros. sees strong Sunnyvale demand
- Nathan Donato-Weinstein
- Real Estate Reporter- Silicon Valley Business Journal
- Email | Twitter
Luxury homebuilder Toll Brothers probably wishes it had a few more developments like Estates at Sunnyvale in the works.
Toll Brothers CEO Douglas C. Yearly said on an earnings call Wednesday that prices at the company's Sunnyvale development have risen by $91,000 in the last four months. Toll Brothers sold 30 homes over that time period. Average price? A cool $1.5 mil.
The houses range from about 3,000 to 3,100 square feet and are situated on roughly 6,000-square-foot lots. The development includes 47 units.
For the quarter ended Jan. 31, Horsham, Pa.-based Toll Brothers reported profit of $4.4 million, or 3 cents a share, compared to a loss of $2.8 million, or 2 cents a share, a year ago. Revenue rose 32 percent to $424.6 million.
Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.
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