Is it worth it to buy at the Watergate?

[Anonymous]

Have you seen the condo fees?

[Anonymous]

Anonymous wrote:Have you seen the condo fees?

It is a coop

[Anonymous]

Anonymous wrote:My office is in the Watergate. I have views directly into dozens of living rooms. Less privacy than other buildings because of the curvatures. Also there was that pancake collapse, it’s just like, not a well-constructed building.

Wow, when did this happen? Scary.

[Anonymous]

Anonymous wrote:I went to GWU and anytime I shopped at that old Safeway I saw rats. No thanks.

there is a nice whole foods and trader joes there now, no?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I live in a coop building in NWDC and I'm ... familiar with the challenges (and don't mind them).

The thing that I can't get over about the Watergate is that it's not particularly walkable. One of the trade-offs for some of those challenges is that I can walk to a dozen easy amenities within 2-5 minutes, including numerous transit options. The Watergate is cut off by that huge traffic circle and not integrated into a walkable neighborhood.

yup - this was a HUGE turnoff for me. You have to cross a multi-lane road to go anywhere!

Plus, have you seen the huge homeless encampment next to the Watergate??? Why would you want to pay so much to live somewhere with that nearby?

this isnt permanent, mayors come and go...

[Anonymous]

Anonymous wrote:Crossing the lanes is not that bad. I did that when I lived in the area.

+1. I didn't live in Watergate, but in the general area and had to cross to go to the waterfront for hiking/jogging, it was not a big deal. The lights are well timed and pedestrian friendly crossing are available. It's also close to Gtown waterfront, if you want busier vibe and more views. For groceries you can walk to WF and metro is nearby. The neighborhood is great for access to amenities and also jogging/biking trails and views (which is important for some). Coop thing is very very common in NYC, but somehow seems to be weird in DC. I guess it's because unlike NYC there is other type of housing available and affordable like condos and even rowhomes. OP could buy a rowhome nearby in the same area and pay no fees. Cannot do this in NYC, so coop is usually the only option.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Have you seen the condo fees?

It is a coop

People don't understand coops in DC. I get it why, it's because it's more affordable than NYC where coops are pervasive, so there are choices like condos and rowhouses that aren't only accessible to super rich. Maybe OP would like a rowhouse, there are many around there, maybe she'd like a condo, there are many there as well. She should to look at multiple properties and do her math and see what makes sense.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am considering it as well. The west side of it seems quite close to Georgetown — you can cross on Virginia avenue where there is a traffic light and then it’s a ten minute walk to the heart of Georgetown and the waterfront park. It is also an easy walk to my work.

Some things giving me hesitation, besides a number already mentioned, are 1) the schools it is zoned for suck - the senior citizens there don’t care but I’m much younger and do have kids, and 2) flood risk is rated as extremely high which makes sense.

But just in terms of size and location it’s a bargain for a condo/co-op in DC, even with the fee. But assessments are a concern

How is it a bargain? You get a spacious 2 bed 2 bath for $750k (good price) but then you pay $2,395/mo in pure HOA fees, taking your total monthly payment to north of $6,000. And on top of that your HOA fees will keep rising and you’ll be hit with occasional special assessments. Aren’t there better options for ~$6,500/mo?

You can get a rowhouse in Foggy Bottom for this price, same convenience and even better proximity to amenities and no condo fees and full control over what you do on the inside.

[Anonymous]

I’d buy a rowhouse in gtown for same monthly price. My grandma bought there when she was widowed in the 90s and is still kicking at near 90. It’s an older crowd with money. Our rational of this over elderly care is the coop fee is less than the 10k a month for elderly housing and the building staff are amazing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I live in a coop building in NWDC and I'm ... familiar with the challenges (and don't mind them).

The thing that I can't get over about the Watergate is that it's not particularly walkable. One of the trade-offs for some of those challenges is that I can walk to a dozen easy amenities within 2-5 minutes, including numerous transit options. The Watergate is cut off by that huge traffic circle and not integrated into a walkable neighborhood.

yup - this was a HUGE turnoff for me. You have to cross a multi-lane road to go anywhere!

Plus, have you seen the huge homeless encampment next to the Watergate??? Why would you want to pay so much to live somewhere with that nearby?

That did not use to be there. Conditions have changed on the ground at the Kennedy Center so ...However planes fly we never minded the noise when outside at the Kennedy Center on any level.

Pre pandemic we considered downsizing-move south-place local at Watergate. Views and Kennedy Center [shows, activities, expansive outdoor space, convenient on the border of DC to airport].

[Anonymous]

What about the Ritz Carlton apartments farther north but still close to Ken Cen.

[Anonymous]

Anonymous wrote:What about the Ritz Carlton apartments farther north but still close to Ken Cen.

https://www.ritzdc.com/

[Anonymous]

Anonymous wrote:

Anonymous wrote:What about the Ritz Carlton apartments farther north but still close to Ken Cen.

https://www.ritzdc.com/

They cost around one million more same size unit

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What about the Ritz Carlton apartments farther north but still close to Ken Cen.

https://www.ritzdc.com/

They cost around one million more same size unit

And without the views or access to outdoor amenities at your doorstep.

[Anonymous]

I've lived in several DC coops (not the Watergate) but the biggest reason I wouldn't live there is that the residents skew elderly and highly educated which is a recipe for out-of-control persnickety behavior. I've lived it firsthand and it's not fun. People who demand no changes but also think they are an expert on everything don't promote good coop governance.