Thoughts on this Co-op in Cleveland Park?

[Anonymous]

I'm always curious about this building. It's so out of place in that neighborhood.

https://www.redfin.com/DC/Washington/3039-Macomb-St-NW-20008/unit-22/home/18295031

[Anonymous]

$640 in HOA fees and the only utilities it covers is water. Insanity. I also hate how half the pictures are of restaurants and stuff. No one cares about that.

[Anonymous]

350k, 640 monthly fee, WINDOW UNIT ac (!!!) and no elevator with basement laundry? Plus it is a coop so hard to sell and may not be able to rent it out. Plus no parking…

Nice building and unit but it is a 275k condo at best

[Anonymous]

These units have not moved in price in years.

[Anonymous]

The window unit AC and no in-unit laundry are a pass for me. The condo fees would not freak me out if I could look at the condo's financial docs (which I would obviously request) and understand where the money is going.

I'm not sure where the PP is getting that the fee only covers water. It will also cover building insurance, electric to common areas (which includes the laundry room), landscaping, and capital improvements. That fee is high but not astronomical, I'd want to know why it is what it is. I'm betting they hire a management company and that adds some money to the fee, but it also might reduce stress for owners if you can complain to the management company regarding issues and have them addressed, rather than internal management which in a small building can mean a lot of just doing it yourself.

I'd also request a 10 year accounting of special assessments. If the building has no special assessments, that might justify a higher fee.

A lot of condo buildings in NW have some challenging hurdles because the buildings are older and need more maintenance. I do think you could offer lower on this unit and might get a bite because of the higher fee.

[Anonymous]

It’s out of place in the neighborhood? It was built in 1923.

[Anonymous]

It’s a coop not a condo so property taxes included in common charges.

[Anonymous]

Anonymous wrote:350k, 640 monthly fee, WINDOW UNIT ac (!!!)

I highly prioritize having good central AC in this area. Window units are loud and cool your space unevenly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:350k, 640 monthly fee, WINDOW UNIT ac (!!!)

I highly prioritize having good central AC in this area. Window units are loud and cool your space unevenly.

To be fair, it's a tiny apartment with units in both the living room and bedroom and likely it cools off fine. Plus being in a large building, you likely barely have to turn the heat on in DC's mild winters. I've lived in similar buildings in DC with window units and have been surprised by how comfortable they are.

[Anonymous]

My one bedroom coops was well run and common charges were $579 a month on 1999.

A coop is responsible for way more than a condo. Mine has included, water, heat, gas, property taxes, and lots of repairs covered by coop more than condo.

We had 86 units.We did not allow washers in units or have central air. The coop paid majority of insurance and repairs.

86 washing machines would be a nightmare of water leaks and higher insurance. We had through the wall AC units as coop old and we did not want to maintain AC and lay electric.

We had two beautiful laundry rooms and any profits went to subsidize common charges.

My wife moved in when married and like she was unsure of a shared laundry room. Within two weeks she was I love. She could do three loads sane time, dry three loads same time. We had massive folding tables, even irons, a bathroom and chairs. We were elevator building and we had a laundry wagon.

What took her all day in her apt with a washer dryer in unit now went way way quicker. It’s just different

[Anonymous]

Anonymous wrote:It’s out of place in the neighborhood? It was built in 1923.

It shouldn't be out of place in the neighborhood. That's why Cleveland Park's commercial strip is struggling.

[Anonymous]

Honestly, seems about right to me. 750 sq ft is pretty big for a 1br. It's super close to the strip and metro. Yes, I know it's not a vibrant strip but it's fine. And you're right across the street from Tregaron/Klingle trail.

[Anonymous]

Ironic people complain about no affordable housing then bash an affordable unit.

You do know rapid home appreciation makes things unaffordable.

Coops do appreciate less which what makes them affordable

[Anonymous]

Anonymous wrote:Honestly, seems about right to me. 750 sq ft is pretty big for a 1br. It's super close to the strip and metro. Yes, I know it's not a vibrant strip but it's fine. And you're right across the street from Tregaron/Klingle trail.

It's a good spot for someone who wants easy public transit or biking to the rest of DC with a quiet and green semi-suburban vibe. (I can't say I know anyone like that.) Price is definitely in the ballpark since CP real estate remains so hot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s out of place in the neighborhood? It was built in 1923.

It shouldn't be out of place in the neighborhood. That's why Cleveland Park's commercial strip is struggling.

I agree. I was surprised that OP said it was.