Good Deal or Not? “Close to Metro, Rustik Tavern & 2 cafes” edition

This condo is located at 125 T St, NW:

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The flier says:

“THE SKY’S THE LIMIT IN THIS PENTHOUSE LOFT! Two bedrooms, two baths, private rear deck & parking! Rustic exposed brick & iron railings juxtaposed against traditional moldings, handsome hardwoods & vaulted 18-foot ceilings with skylight. Gourmet kitchen with granite & stainless. Extra loft space. Full-size W/ D. Close to Metro, Rustik Tavern & 2 cafes. 24-HOUR NOTICE–CALL TENANT.”

You can find more info here and a virtual tour here.

Since I was away last week I wasn’t able to get prospective GDoN candidates (I’ll get more this afternoon) so I’ll echo this great one spotted by Urban Turf. This 2 bed/2 bath is going for $445,000 ($200 monthly condo fee.) Sound right?

34 Comment

  • 2 blocks over (NE T & Lincoln) you can get an end unit rowhouse that is bigger and has a better yard & finishings in same price range. I think it’s under contract now, but Eckington is a much better value than Bloomingdale IMO.

  • I think it’s reasonable based on what a recent (May) 2 bed/bath went for in the Gage School condos down the street. That one was top floor, 1050 sq ft. w/ a small balcony and went for $454,000.

    • I agree, this unit looks nicer IMO. The unit you’re referencing wasn’t even in the original school house so lacked a lot of the “cool features”.

  • LOL @ ‘penthouse loft’ — I would put in an offer at 400k and see where it goes. The master seems small. If you have to call out a singular restaurant in your listing then you’re probably not in a very good location. But hey if you’re househunting in this area you probably already know that. Fortunately this part of town has a lot of potential for growth as the U street development begins creeping east. Question is whether you’re willing to wait 10 years for it.

    • I agree the term “penthouse” should be used only when it’s in a building with more than four stories, and “loft” when it’s livable space.

    • -1

      Bloomingdale is a short walk to U Street. Near the fun/craziness but not in it. Do you seriously judget a neighborhood only by what’s within its boundaries and not what is up next to it?

      Also, the Howard, Progression Place and O Street Market are happening now so the ten year comment is inaccurate – unless you’re unable to leave the confines of Bdale.

    • The unit just below this GDoN sold for $400k. It has no loft office/guest room. It sold in 12 days at close to asking:

      When I first looked at the GDoN, and I immediately thought underpriced. I think the addition of the extra room justifies the price — not to mention the higher floor. I bet the sellers will accept the first good offer they get rather than hold out, so it’d prob go for $450k. I just wouldn’t be surprised if it went over that.

    • there will be 3 site down restaurants with liquor licenses within 2 blocks of this place when Boundary Stone opens.

      Not to mention Red Toque, Thai X-ing, and Beau Thai.

  • Agreed. Pass.

    Interesting place and relatively short walk to the metro. Don’t love that stretch of Rhode Island and the unit looks dark in the pictures though.

    Sold for ~375 in 2009. No way in hell did it appreciate another ~75K in two years.

    The listing history drives me insane. The previous listing agent pulls the same act over and over again. He changes the price by a few dollars every couple days so that the MLS re-emails the listing to buyers and goes back to the top of the MLS list.

    Even if you trash the listing on the MLS system, you still get the email saying there has been an update within your criteria. Arrrgggghhhhh . . . . if I wasn’t interested the first time, I’m not going to be interested with a 1 dollar price change.

    • The only thing that matters regarding price in 2011 is if it is priced properly for the market in 2011. The price it sold for in 2009 means nothing.

  • No thanks, this space looks like it was designed to get maximum market value based on an amenities checklist, but they fall flat. Bedrooms are cramped. Jacuzzi bath jammed into the corner of the master bath. Loft height looks to be around five feet based on the stubby door configuration; great if you like walking on your knees. Limited kitchen space with awkward frige placement because there is a door within the working space (also awkward).

    On the plus side, the finishes appear to be nice, and the ceiling height in nice.

  • I feel like your insurance premium would be higher just because of the stairs in there. And Eli, glad you like that Eckington house — we’re the ones actually under contract on it.

  • The bedrooms seems really small…and those stairs are so weird…Ive never seen anything like them.

    • I think they’d be difficult for carrying up furniture, etc.

    • Agreed on the weird stairs. “Floating” type stairs kinda freak me out as it is, but looking at the photo of the stairs leading down made my stomach lurch. I would be afraid of putting a foot wrong and falling.

      The finishes on this place look nice… but the bedrooms look cramped. And I think the photos were taken with a wide-angle lens or something, which means they must feel REALLY cramped in real life.

      • One too many drinks and I’d fall down the stairs. And let’s be honest the ‘one too many’ happens more than I’d like to admit. 🙂

    • Revised description:
      “handsome hardwoods & vaulted 18-foot ceilings with skylight. Close to Metro, Rustik Tavern & 2 cafes. Enjoy exorcist stairs without going all the way to Georgetown.”

  • It is a cool space. I don’t know enough about the condo market to comment on the price but I do know that there are a lot of condos on the market and I would be more inclined to buying a row house in that same price range if I were in the market.

  • I think it’s kinda cool, but think you can get a house for that price that needs a little love. I also do not like windows that don’t open like the ones in the front. Maybe on RI Ave., though, that’s needed to keep out the noise.

  • Is .6 miles to the metro really count as “close to metro”? Wouldn’t that make 95% of DC “close to metro”? .6 miles is a LONG walk in the rain. #justsaying

    • If you look at a map of DC, I can assure you that you’ll see the vast majority of DC is not within .6 miles of a Metro stop.

    • A ton of the properties talked about on here are .6 miles from the metro (or more) but only the ones in this part of town are deemed by the commentariat as way too far from the metro.

      • .6 miles is not far from the Metro. I live right in this area and the walk to Shaw Howard is 12-15 min depending on how fast I want to walk. Yes, when it’s raining heavily it’s not fun, but neither is walking .2 miles in heavy rain… it doesn’t take that long to get soaked, and once you’re soaked, you’re soaked.

        While I’m at it… I think most of the comments along the lines of “for that price you can buy a house that just needs some touching up” are bogus. Can PoP start a rule requiring people who make these types of comments to back them up with a specific example (by MLS listing)?

    • for most of my purposes .6 miles is too far for the metro. i live in bloomingdale and walk to both ny ave and shaw stations fairly often, but mostly i take the bus. if you need to be very close to the metro and are not a power walker, bloomingdale is not for you.

      thankfully the buses that run near bloomingdale are great.

      • I live in B’dale, take the bus, bike, and ride the metro. Fortunately, I can do all three from this hood.

        Although the walk to the metro is a bit longer than I’d like at 10 minutes (yep.. 10-12 minutes) but perfectly positioned away from the loudness of U street, it’s one of the most beautiful and pleasant walks in the city — down T street through Ledroit and past the Howard Theater, which is on its way to extreme fabulousness.

        Ultimately, to each, his own.

  • Looked at this condo when it originally came on the market – there is no way two people could use the sinks in master bath at the same time – they space is so tight. And didn’t love the access to the deck being through the master bath. But happily found another place to call home in Bloomingdale!

  • Nice to see Rustic get the nod over Big Bear. No offense at all to Big Bear, but it shows Bloomingdale is more than a 1 trick pony.

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