Good Deal or Not? Loft Edition (Reader/Owner Request)

View Larger Map

DSC03897 [800x600]

This condo is located at 3039 16th Street, NW:

View Larger Map

The Craig’s List ad says:

“Incredible opportunity to live in one of the hottest neighborhoods in the city. This large 1 BR/ 2Bath w/ large 2nd floor loft (2nd BR) is a modern masterpiece with elevator opening directly into unit. Columbia Heights Metro, Harris Teeter, Gourmet Giant, Target, Washington Sports Club, Commonwealth Gastropub, Wonderland, and Red Rocks Pizza only scratch the surface of what lies steps away. Or if you prefer, a 5 min walk places you at the doorstep of Rock Creek Park and the National Zoo. Unit includes washer/dryer, gas cooking, central A/C, gas fireplace, exposed brick, LARGE storage room, and bright views of city scape. Public roof deck has unobstructed views of DC/MD/VA. Ask about option for unit to be equipped with 42″ flat screen TV, surround sound, AND HD projector w/ 8 ft theater screen in loft area. You’ll never want to leave this place!”

The reader writes:

“$2750/month w/ $100 monthly credit for on-time payment
$560,000 to purchase
Purchase Option — rent for year and apply entire years’ payment towards purchase price”

This is an interesting one since it is for sale or rent. How do the prices for those options sound? What are your thoughts on loft condos? A few more photos after the jump.

DSC03906 [800x600]

DSC03898 [800x600]

DSC03900 [800x600]

36 Comment

  • Love love love love love love love this place. Does the cat come with the apartment?

    Wonder what the street noise volume is in those lofts?

  • I’d buy it in a heartbeat… Although I think the rent is a little steep (I’m paying $1250/mo for a studio downtown – I was under the impression that downtown is more expensive, although this place blows my meek little studio outta the water), but I also moved to DC thinking that $800/mo would get me something really nice! Also would love it if I could get that kitchen table included! The $100/mo credit is interesting – is this a normal thing around here? Also really like the fact that you can rent for a year with the option to buy. So with that extremely cluttered, ill-organized paragraph, I love it!

  • This is on a VERY busy section of 16th street. As a 1 BR, I think it would be a good deal at something more like $475,000.

  • This place is only a “five minute walk” to the zoo if you have jet boots or are The Flash.

  • I enjoyed the description of Giant as “Gourmet”
    Beautiful place though.

  • I think the “zoo” they’re referring to is the area on 14th out in front of DCUSA.

  • I wonder if it has a staircase for when the elevator breaks down, as they usually do.

  • Anon is about right although I might go up to 500K. The realtor hype is annoying.

  • Not sure why I’d want the elevator to open into my apartment.

  • It’s times like this that I wish I had planned my career better so that I’d be able to afford a place like this by now. But I’d still only pay about $500k. Because of the lack of privacy, it will be hard to rent out that second bedroom. This is effectively a 1br+den.

  • does the bedroom have any windows or is it just a little cave in the back? it seems like there are the huge windows to the front but then nothing on the side or back.

    I also would wonder how good the windows are at quieting down 16th street.

    overall i find both (but especially rent) a bit high. $2300 to 2400 for rent and $460,000 for buy i think would be my thoughts

  • I live right behind this building on 15th, and I am shocked that the inside is as nice as it is. This building is real, real fugly.

  • Also, if you like this building — I believe it’s called Zedecco lofts or something like that… the penthouse unit has been for sale/rent for quite sometime. Seems like the owner has had a pretty tough time getting it rented/sold and I’m fairly sure it’s still available (It was also on Craiglist bunches of times). The penthouse unit was done up by HGTV for some TV show and if I remember correctly was going for 8-900k and he wanted 3750-4000+/month, his ad was always changing.

    I’ve never been in the building, but knowing how hard it is to find cool lofts in DC, this one looks pretty decent, although for the price I’d also much rather be further downtown

  • Yea, this is basically a 1br w/ den (and an open den at that, so it would be difficult for one person to be doing work in the den and the other watching tv downstairs). So it’ll take a special buyer that is just looking for looks rather than functionality, and is okay with just a 1 br place. I’d say $475k is about right. And I think you get to $475k, just b/c it does look pretty cool.

  • I know this loft and the building and its totally gorgeous and worth it! You’re paying for a very unique space and even more details that they’ve brought to the place.

  • Here is a link to the kook that is selling the penthouse in this building. I only say “kook” b/c I swear he’s been at it for 2-3 years now…with no adjustments to price or alteration of his selling strategy. Views look amazing, but a 1br w/ den for $800k or whatever he’s demanding is positively insane.

  • i always wondered what these places looked like – i can see the building from my apartment!
    and i was also curious as to what was going on along the side with the windows… apparently an elevator shaft?

  • If you buy it what are the condo fees? I wouldn’t be surprised if you’d get totally screwed by that added price each month… which is why it’s not in the realtor’s listing.

  • What’s up with 1 bedroom and two bathrooms?

  • the negativity on this blog is so ridiculous.

    of course it has stairways to complement the elevator. Two of them. The law states there must be two ways to escape from a building in case of fire.

  • I think the cat is quite a nice touch…..

  • does the bedroom have any windows or is it just a little cave in the back?

    You can see sunlight flooding into the bedroom from the left side of the picture. The living room windows are on the same side of the condo.

  • Like the space a lot, though the kitchen is decidedly mid-grade for that price. I think it’s fair to price this as a 2BR, but I think a 2BR condo in that area is a little less than that. Personally I think it’s a sweet place and worth a *little* less than that, but he might get it. (Unless condo fees are high in which case I think it’ll sit).

  • That couch looks a lot better from the back than from the front.

  • I don’t think that is sunlight flooding through to the bedroom; looks more like a bedside light to me (esp. b/c it looks like a dreary day outside when they took the pics), but, yea, its easy to tell that that is where the windows would be, and, obviously there would be windows back there.

    I’d say its fair to price as a 2br b/c the place is designed so stunningly, but obviously no one could live in this as a 2br. As someone noted above, b/c the den is so open to the floor below, it would be hard to have two people doing different things in each space without stepping on each other’s ears due to noise. This is really a symptom of most lofts, however, which is why I dreaded the “fake loft” building stage that we are now just coming out of. I have to imagine the condo fees are high, though, b/c of the elevator and the fact that this is quite a big / tall building and there really aren’t that many units in it. I’d say under $500k is fair all considered. $450k wouldn’t surprise me, truthfully, but it’ll probably be closer to $500k. Its interesting, b/c apparently there have been no resales in this building…though I guess the penthouse owner is trying unsuccessfully to sell.

  • This building is definitely a head turner. Were I to be in the position to buy, I would give it serious consideration. Thanks PoP!

  • I’ve spent some time in the exact replica unit in this building, and yeah – it’s nice. But – a lot of the space comes out useless. The area around the fireplace is a decent dining room, but not big enough to also use for much living. The loft area has low ceilings and a kind of scary small spiral staircase to get up there. And the building in general is kind of thin-walled. Easy to hear a lot of people coming and going, from my experience at least. This one, however, is much better decorated than the unit I’ve seen – so it looks pretty awesome.

    I think the rental price is fair, not sure I’d want to buy a place like that though. Lots of flash, but doesn’t really deliver… kinda like the dude I used to know who lived there. 🙂

  • The previous comment reminded me of a question I’ve had of late, for any of us that live in a dwelling that shares at least one wall with a neighbor (or all walls in apartments / condos for example), how common is it to hear your neighbors? I get somewhat grumbly when I hear the toddler from next door wailing, or hear their music once a month, but I know a rich friend in U St area who thinks nothing of it to hear his upstairs neighbors / elephants.

  • @Pennywise – I’m downtownish and I get so angry when my neighbors are constantly slamming their front door (in a condo building). I can also hear the bass from their tv which gets so annoying – why does someone need their bass turned up so high! On the other hand, I’m afraid my neighbor on the other side of me gets mad at *me* for being loud because he is so quiet!

  • Kalorini my apt is across the street (in that pic) it is LOUD!!!! Those windows would have to be amazing. I would urge anyone to consider buying off of 16th to listen at night.

    Interesting to see the building from the inside. He/She will have to come down off of that price.

    One of these units made HGTV.

  • Initially I thought this was the unit from HGTV that the guy has been trying to sell since 2005 for 800-900K.

    For 560K, this doesn’t sound that bad. There’s many 1 bedrooms for 450K and they don’t have this sort of views and space. For once, I will say that the 560K pricetag is not that far out of the ballpark…

  • Thanks everyone for the many kind AND colorful comments. The unit is no longer available. After multiple applications, the loft has been rented (which was my preference). It rented fast because it was priced below the market. Those believing the prices were excessive might be shocked to learn the prices of much lesser apartments in much lesser locales. Although I’m tempted to address some of the less flattering statements, I’ll refrain and say only that I’ve had an amazing time here and made some great friends here in the building. Next stop, being a good father to my 5 day old son. Cheers.

  • Don’t get me wrong – I love our hood, but by the description: “Commonwealth Gastropub, Wonderland, and Red Rocks Pizza only scratch the surface of what lies steps away. ” makes it sound like you’re in Georgtown / Dupont.

    In reality there are some other things that creep out when you “scratch the surface” that aren’t so antiseptic…

  • You can certainly get to the zoo in 5 minutes from here; on roller skates, even faster. However, getting back up that hill is a trek that will take you a bit longer.

    Congrats on the new baby!

  • Odontex, it takes me seven minutes to walk UP the hill from the zoo entrance on Harvard to 16th & Irving. I wouldn’t even need roller blades to go down in five.

    This intersection is an incredible place to live if you don’t come and go by car. It’s a major bus hub with circulator, H and S buses, plus Green line rail access. It’s steps to Mt Pleasant, Adams Morgan and Columbia Heights. I have a friend at that intersection and if you’re up off the street it’s not all that noisy.

    This is an unusually negative set of comments. DCzSlimmest, congratulations and good luck.

  • Yeah, this is definitely 5 minutes from the zoo. Just two blocks down Harvard street to get to the Eastern entrance. weirdos.

    I live in a house a block away and this is pretty pricey. It is a great neighborhood, but great because it has a great mix of people. I don’t want half a million dollar condos in my neighborhood.

Comments are closed.