Reply to Why does the Watergate attract such a premium?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I work right there. The only appeal that I can see is the close proximity to work for well to do State Department staff and Saudi diplomats. The plaza it’s shops are so dated. [/quote]

State Department has over 75,000 employees and I would say it was them but $1M+ condos would have to be Deputy Secretaries and up - of which there are far fewer.

With 15 units for sale now, and over 70% of them being over $1M I still don't see the draw.

https://www.highrises.com/washington/watergate-condos/

Although this one is really nice https://www.highrises.com/washington/listing/1006069110-watergate-condo-for-sale-2500-virginia-ave-nw-717-s/
[/quote]

[quote=Anonymous]I have worked at State for 10 plus years and have never heard of a single person who lived in the Watergate.  The Department's location leads to families living in Nova and singles have many other better options than what sounds like a nice set-up for well-off old folks.[/quote]

Foreign Service Officers (diplomats, not to be confused with civil service State Dept employees) are actually pretty well off as a whole, even at the mid level (late 20s / 30s). They have all of their living expenses covered overseas, so with free housing + free private schooling + free plane tickets and, depending on where you're posted, extra money just for existing, it's pretty easy to build up a nest egg pretty quickly. Lots of FSOs looking to rent out their million-dollar properties in the DC area while they're overseas.

That said, I agree that Watergate isn't a huge draw for them. The career FSOs who take advantage of very generous government benefits to have large families will decamp to the deep suburbs to house their 3-8 kids. And they will whine ad nauseam about how horrible it is to pay their own rent or mortgage for once or have to suffer the indignity of working for 2-3 years in the very country they represent. Those who can comfortably fit into a 2br apartment or smaller will choose much more interesting neighborhoods in DC.[/quote]

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