Reply to Talk to me about Pied a Terres for the Middle Class Set (aka a studio condo in downtown)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Coops vary on whether/how long you can rent, mostly because they need to keep a certain ratio of occupant owners for tax reasons. Then again, I'm hearing of more condos needing to do that these days, too, to keep within guidelines for lenders, so there may not be an enormous difference there. That saes, id, I do live in a neighborhood with several coops and those that don't allow it at all seem to have decidedly lower values and take longer to sell, so I'd avoid that.

I think on site maintenance is useful if you'll be away a lot, so that if a pipe bursts or whatever while you're away, it can be speedily addressed. Front desk staff that can take deliveries are nice for the same reason. (Though, admittedly, I use them to sign for wine shipments mostly ; )

I'd have a look at SW. Some cafes and restaurants down here, but also pretty peaceful and free of car noise. And convenient to fun restaurants on the Hill and Penn Quarter. Big studios, too. [/quote]

Thanks PP - any specific building recommendations in SW? [/quote]

Of the coops, River Park is the one that I think of as having the restrictive renting rules that are, I think, what keeps prices soft . Tiber Island and Harbour Square are really, really nice coops that include a ton of amenities (utilities, staff on site, cable and internet, gym). Both are right on the water. Of the condos, there's new and old construction and both have virtues. I feel like the coops have a bit more of a sense of community, with longer term residents, though there can be good and bad in that. Harbour Square has cool roof terraces as a shared amenity that make for gorgeous views up the river and of the 4th of July fireworks.

Inventory seems a bit tight in SW right now, but here's one with an adorable kitchen in Tiber:
http://www.redfin.com/DC/Washington/430-M-St-SW-20024/unit-N201/home/21633172
And one from Harbour Square: http://www.redfin.com/DC/Washington/560-N-St-SW-20024/unit-N307/home/16902940

I think the new buildings up by metro that will be rentals (Sky Tower?) are supposed to have a roof pool. They could be worth keeping an eye on - they're supposed to start leasing in the fall or something and may have new lease specials that could be a way to get to know the area. If you were more tempted by the ballpark area, then there's a brand new apt building across the street from the ballpark (Camden South Capitol, I think?) that almost certainly has units as it only just started leasing. Waterside Towers, over by Waterfront metro is also rental apartments...that have rent control. That might almost perform as well as owning, as an investment...

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