910 M St NW Condos - why taking so long to sell?

[Anonymous]

There’s a seemingly nice condo building at 910 M St NW, I’ve been watching and units there seem to be taking a long time to sell.

Anyone know what might be up with this building? Is there some looming special assessment, or is it because some of the units have obstructed views where you are looking directly into the neighboring buildings?

This unit for example has been on the market since January:
https://www.redfin.com/DC/Washington/910-M-St-NW-20001/unit-114/home/11746732?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

[Anonymous]

For one condos are a dime a dozen and two there's carpet.

[Anonymous]

It's an area that temporarily saw more demand pre-Covid but no one in their right mind would want to live there now. The convention center overshadows everything and makes it kind of a no-man's land.

[Anonymous]

It feels dated.

[Anonymous]

It’s very pretty but also terrace level with direct street access. Aside from that there are 5 other condos for sale in the same building with same number of bedrooms and a lower price.

[Anonymous]

I live near there and think they’re too expensive. $625 for one bedroom? Just blocks away can you find 2 bedrooms/2 baths for the same price. $590-600k would be more reasonable.

[Anonymous]

Bedroom is open to living area so even with the door, its basically a loft. Upstairs has carpeting. HOA is high, not everyone cares for amenities they need to pay for monthly but may not use at all or rarely. Building is high rise which makes it apartment like.

[Anonymous]

Price. There are 4 units on the market in that building. This is the highest priced one and it's only 1 bed, while the others that are lower priced are still sitting including a 2-bed that is priced lower.

[Anonymous]

While this is a desirable area for a lot of condo buyers, it used to attract a lot of people working downtown 5x/week since they could walk to work.

Now many of those downtown jobs are hybrid and some are WFH, and I think that has buyers considering more neighborhoods and less fixated on living right near the office.

[Anonymous]

$683/month condo fee, yikes. Hard to see how buying makes sense in light of all the wasted money on condo fees, taxes, and interest. Sure, you're building some equity every month, but it will pale in comparison to the total amount you'll be spending.

[Anonymous]

Is it always price? Also almost $700 in HOA fees is a lot. The patio is also on a very busy street. Some people don't like a walk out to the street for safety reasons.

[Anonymous]

It has a parking, square footage, additional half bath and landing space (listed is den) so not a bad condo but wouldn't pay more than $560k. I don't like paying more than 200 HOA fee but if there is a covered parking, i can do up to $450 but $683k seems like a waste since i wont use shared amenities. Why do anyone want pay for elevator, pool and gym maintenance/repairs when they live on ground floor and doesn't use gym/pool more than a couple of times in a year?

[Anonymous]

Anonymous wrote:Is it always price? Also almost $700 in HOA fees is a lot. The patio is also on a very busy street. Some people don't like a walk out to the street for safety reasons.

of course it's always price. You might not mind the patio being on a busy street, or the high HOA if the price was lower. There is a price-point for everyone where they're willing to accept certain less desirable aspects of a property.

[Anonymous]

Unless its a million dollar condo and you are loaded, paying $500+ on condo fee doesn't make a good business case.

[Anonymous]

because the condo fee is $700?