Good Deal or Not? “Catwalk leads to cool den/office” edition

2601_sherman

This condo is located at 2601 Sherman Ave, NW:

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The listing says:

“Stylish and hip loft. Very well-designed with lots of natural light, beautiful exposed brick and hardwood floors. Tall ceilings, skylights, great for entertaining. Walkable to U Street and Columbia Heights metros. Catwalk leads to cool den/office. Sits atop vacant retail which can be made available for purchase. Sits right in the wave of future developments. Tremendous appreciation potential!”

I’ve been super curious to see what this looks like on the inside.

You can see more photos here.

This 2 bed/2 bath is going for $649,900 ($150 monthly fee.)

32 Comment

  • not my thing, but looks way better on the inside than the outside. Hard to judge the quality of the construction based on the photos.

    You think they could have waited until they installed the stove before they took the kitchen pic.

  • Looks like they’re counting as a “bedroom” the loft space area that’s mostly open to the stairwell, etc.

    • Agreed. It doesn’t look like very much space for the price. I really can’t really imagine it has tremendous appreciation potential”. Of course if it does, then I am thrilled for my 1,600 sq ft condo 2 blocks away! I also always thought that was going to be some sort of commercial space.

  • I’m a model, you know what I mean and I do my little dance on the catwalk.. yeah on the catwalk…

    LOL.

    Just saw this place the other day as I languished next to it in Sherman Ave. traffic for 15 minutes…

    There is a fire station next to this, check to make sure the house is insulated/quiet enough when the trucks roll out! I used to live on 9th behind it and that was a pretty busy fire house, but Sherman avenue is looking great as of late. This price is up there, but the loft looks mega-cozy and after all the development coming there now that Howard U. fired it’s lazy property management team it should be quite a nice neighborhood in about 4 years. :)

    • Good call on insulation/quiet check. I live on the corner of 2 major roads and the sirens are basically in my living room and bedroom. I DID get used to it and now it doesn’t bother me except when I can’t hear the TV as they go by. But I sorta wish I had checked or knew about it beforehand.

  • Usually on this blog when people say, “But you could buy an actual HOUSE for that money!” they’re comparing a condo in one neighborhood with a house in a totally different neighborhood. But aren’t renovated houses in Pleasant Plains/Park View going for about this much?

  • You can buy a full house that shares the same alley as this condo on Fairmont for $549K. So why would you buy this place? It also does not fit the area on the outside. I guess it is better than the rat infested house/liquor store that was there before.

    Don’t forget that there is absolutely no parking with this condo.

    • not having parking doesn’t deter everyone. and fewer and fewer people have cars.
      i dont think that will be a problem

      • That’s what everyone of my neighbors said as they moved onto Fairmont. However, in the end, we all bought cars and paid between $20K-$60K to have parking dugout behind our houses.

        The no car idea grows old as YOU start to grow old. At the price they are asking, you can do better on Euclid or Fairmont (and have a car with the $150K you saved by not buying this place).

        • $20-60K? I hope you got a garage or something as well, or you got well and truly scammed. I had uncovered parking put in behind my place for under $5K.

        • about 40% of DC households don’t have a car. that number increases as you approach downtown.

    • Just a note on parking . . . at least for now it’s not bad in the neighborhood. There’s also a space behind the building before the alley – I assume it would have been included in the listing if it were available though . .

  • This is a joke right?…I pass this place everyday on the bus and the fact that its going for more than $300k lead me to believe the DC bubble is going to burst very soon. Ridiculous

    • If you lived here you might not need to take the bus. The joke might just be on you! But I don’t think they will sell at $650k though.

      • Maybe the jokes on you…Nowhere did i state that the individual that buys this unit would need to ride the bus nor would I expect him/her to (b/c clearly spending money wisely is not his/her “thing”). I stated that I pass this place everyday while I ride the bus. Given the area…this place in no way, shape, or form should be anywhere near $650k.

  • $585/sq ft on Sherman/Euclid next door to a fire house and living above a vacant retail space that could become almost anything in the near future? Sure, nothing wrong with that. Nothing at all.

  • Anyone else have “I’m Too Sexy” stuck in their heads now? “On the Catwalk, On the Catwalk, yeah.” Couldn’t live here for that reason alone.

  • Not concerning this place, but is there a good resource for clueless, first time buyers? I’m starting to look at condos online and I have no idea what I’m doing! FHA versus non-FHA? Fee structures? First time buyers credit? Ekk! Help! PS. I have googled these but I really would like to visit/investigate sites that fellow Pop-ers have used. Thanks.

    • There is a “for dummies” book about buying a house that is quite good. Also, Redfin offers periodic classes. They are a little focused on how Redfin can be your buyer’s agent, but I thought the advice was good for anyone. And the one I went to had a free dinner and drinks!

    • Best resource I’ve used is http://www.mtgprofessor.com/

      FWIW, FHA loans used to be a good deal (circa 2009-10), but are now generally a very bad deal since they changed the MIP requirements.

  • Hmm. I bike past this place every day and had kind of assumed it was a retail space (didnt look at the permits), given what the bottom floor looks like. I just bought a house for this same price at Georgia and Harvard – just around the corner, twice the size, and even that seemed somewhere between reasonable and pricey – a cute but pretty cozy condo with some awkward spaces for this price definitely seems a bit overpriced.

  • Terrible deal. Although the house i bought a few months ago just a few houses up at $200k less sure looks good!

  • Stopped by yesterday. The layout is interesting, but there’s absolutely NO WAY that this place can/will sell for 650 (though living half a block away, I kind of hope it does!!). The finishes/construction is mediocre at best, and the lofted area / second bedroom is sort of odd. It makes for great living space, but I might have considered creating it as an actual bedroom.

    They’ve been working on this place for 2 or more years – I’m guessing it’s priced this way to get a specific amount back on their investment.

  • I can’t believe that no one commented about the fact that the range is not installed in the pictures – it is just in the middle of the kitchen. Really, you couldn’t wait to have the range installed before you took pictures? Other than that I have to agree that definitely appears to be overpriced.

  • Looks cramped. Condo fee is a bait & switch, When the building starts needing work it will balloon.

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