Overpriced or kind of cool? (DC Wharf)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:It's not a condo, it's a co-op.

I think the unit itself is delightful and the views plus the terrace are awesome features. Also, is that an indoor pool? The only other building in DC that I know of that has an indoor lap pool is the K-W; those are super rare.

I don't think it's comparable to the Penn Ave apartment that PP posted -- the Wharf one is much larger and has a balcony and a view.

But yeah, I would not describe it as "priced to sell."

The mismatched old appliances and worn-out flooring are "delightful"?

Floors look fine to me. Stove is white, so what, that's an easy fix if it bothers someone. But it's sunny, it's roomy, it has great outdoor space and good amenities, and a fantastic view. I'd live there, although not at that price.

I think the issue with those floors is that is that super old 70s style flooring, looks super ugly and dated in my view. But yeah replacing those prior to selling would have probably cost quite a bit. I would rather a lower price and then I get to pick what to replace with once I buy. But they totally mispriced this. Hells there is a new and modern condo in another building for like 1.1m. Seller got greedy I guess.

Furthermore agreed they should have redone the kitchen cabinets (just paint)and replaced the stove and microwave. It would not have cost them much to do that. It's a small kitchen so hiring someone to refinish paint that would probably be around 1-2k (2.5k was what we were quoted for a much bigger kitchen). Add a new stove for like 1k and microwave for 300. Anyway all in for under 4k they could have vastly improved that kitchen and therefore odds of selling.

Eh, I've come around on parquet. I think it's old enough now that it has a fresh MCM feel. It's better than the greige hardwood that was everywhere for the past 10 years.

Popville has a post highlighting parquet today. It's having a moment!

Anyone who goes to Popville to gauge current real estate trends (or to gauge literally anything else about city living) probably should not be commenting on them. Both the proprietor of that blog and his readers are perhaps some of the densest, lowest-information people in DC.

I don't know about all that but I don't frequent popville. I did just Google that article and yeah not the same thing at all.

The popville article talks about a cheap af one bedroom rental, so sure given how cheap it is (plus rental) one could easily justify parquet. At over a million for a condo I am sorry but parquet is just unacceptable, it's old and ugly. Don't even see how popville talking about that cheap rental having parquet is at all relevant to the discussion of this "luxury" condo. So actually yeah your point about popville readers may be accurate.

[Anonymous]

Hope you like the smell of weed whenever you go outside.

[Anonymous]

Anonymous wrote:Most of the stuff you all are complaining about can be fixed easily.

Location near the wharf can be nice. We spent summer there renting while we were in between houses and I loved my walks along the water.

Yes, maybe price is off. A co-op is a co-op. They can’t change that.

Yeah, I think this keeps catching people's eye (aside from having popped up on a snowy weekend when people were stuck inside) is because it has some neat and unique features and the things that would need to be remedied aren't super complex.

When you factor that coop fees include utilities, cable internet, and property taxes and contribution to a capital account as well as services and amenities, I think they're not so huge. But list price probably needs to come down.

[Anonymous]

Anonymous wrote:Hope you like the smell of weed whenever you go outside.

It is sad to say, but so much of DC now smells like weed. It's pretty gross. (Same thing in NYC.) I work in an office building near the White House. I never used to smell weed. Now, with legalization, aI just walk outside of my office building, and can smell it right away.

This co-op has a lot of advantages, but it's a shame that many will be deterred by the overall quality of life in that area (potential for crime). It's kind of too bad that we've all kind of accepted a level of crime in DC as normal.

[Anonymous]

If you like that area, and don’t mind living in a coop with coop fees, why not just buy in the River Park co-op townhouse community across the street?

You give up the Potomac views, but you get your own townhouse in a private gated community with private parking and a private pool for 40% less.

https://redf.in/n8zHZJ
https://redf.in/6kOsBr

The units are old, but the co-op fee (which has increased significantly as units have aged) includes all maintenance for each unit and all community upkeep.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Hope you like the smell of weed whenever you go outside.

It is sad to say, but so much of DC now smells like weed. It's pretty gross. (Same thing in NYC.) I work in an office building near the White House. I never used to smell weed. Now, with legalization, aI just walk outside of my office building, and can smell it right away.

This co-op has a lot of advantages, but it's a shame that many will be deterred by the overall quality of life in that area (potential for crime). It's kind of too bad that we've all kind of accepted a level of crime in DC as normal.

I've lived in SW for a long time and never been impacted by crime (and I say that as one who's wary of driving/parking at Navy Yard). There are two corners, both closer to S Cap that have issues but it really isn't a factor on 4th street and west and the plentiful greenspace and neighborhood amenities make living here really pleasant.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's not a condo, it's a co-op.

I think the unit itself is delightful and the views plus the terrace are awesome features. Also, is that an indoor pool? The only other building in DC that I know of that has an indoor lap pool is the K-W; those are super rare.

I don't think it's comparable to the Penn Ave apartment that PP posted -- the Wharf one is much larger and has a balcony and a view.

But yeah, I would not describe it as "priced to sell."

The mismatched old appliances and worn-out flooring are "delightful"?

Floors look fine to me. Stove is white, so what, that's an easy fix if it bothers someone. But it's sunny, it's roomy, it has great outdoor space and good amenities, and a fantastic view. I'd live there, although not at that price.

I think the issue with those floors is that is that super old 70s style flooring, looks super ugly and dated in my view. But yeah replacing those prior to selling would have probably cost quite a bit. I would rather a lower price and then I get to pick what to replace with once I buy. But they totally mispriced this. Hells there is a new and modern condo in another building for like 1.1m. Seller got greedy I guess.

Furthermore agreed they should have redone the kitchen cabinets (just paint)and replaced the stove and microwave. It would not have cost them much to do that. It's a small kitchen so hiring someone to refinish paint that would probably be around 1-2k (2.5k was what we were quoted for a much bigger kitchen). Add a new stove for like 1k and microwave for 300. Anyway all in for under 4k they could have vastly improved that kitchen and therefore odds of selling.

Eh, I've come around on parquet. I think it's old enough now that it has a fresh MCM feel. It's better than the greige hardwood that was everywhere for the past 10 years.

I am pro parquet as well. And I love SW, and the MCM / forced gentrification architecture.

My issue is that the kitchen and one bathroom were redone in the 90s with no thought about design with the rest of the place. And the freaking price for the co-op.

[Anonymous]

Anonymous wrote:I can't decide if this listing is out to lunch or kind of great. On one hand, over $1M and it's got the same kitchen from when it listed in the early 2000s? On the other hand, that private roof terrace is great. I would have morning coffee and evening cocktails out there all the time. (The realtor recycling neighborhood photos so old they list the Wharf as "coming in 2017!" and including a Mike Isabella restaurant have me leaning towards "out of touch").
https://www.redfin.com/DC/Washington/520-N-St-SW-20024/unit-S511/home/143381773

Doing some research on SW DC (see today’s post) and this old string came up. Worth noting that while it was listed for over $1M, it sold for $665k more than a year after the original offering.

[Anonymous]

Anonymous wrote:I'm going to go with comps don't support the price for dated kitchen and bath. I bet it'll go like this one from last year and end up in the $900k range.
https://www.redfin.com/DC/Washington/530-N-St-SW-20024/unit-S-805/home/184944900

(That said, I think the cosmetic fixes would be easier to this one - new appliances, paint kitchen cabinets, new window treatments, remove mirrors, and save bathrooms for another day.)

Good eye. The one you flagged sold for $950k within two months of listing, whereas the other had to drop price by nearly 40%!

[Anonymous]

Such a nice neighborhood if you don't get assaulted, robbed, raped, and your car stolen.

[Anonymous]

Anonymous wrote:Such a nice neighborhood if you don't get assaulted, robbed, raped, and your car stolen.

Well, I've lived here for 20 years and never had those things happen.