Good Deal or Not? “floor to ceiling bay window” edition

2125 14th Street Northwest

This unit is located at 2125 14th Street, Northwest:


The listing says:

“Stylish & Modern 1Br+ den, 2 Baths In Flats at Union Row with Garage #G3-34, Chef’s Kitchen w/Granite & Stainless Steel Appliances, floor to ceiling bay window, Custom shelving. Building with 24 hours Concierge, Party Room, 2 blocks to metro, surrounded by shops & restaurants. open 10/13 1-3pm.”

You can see more photos here.

This 1 bed/2 bath is going for $499,000 ($486 monthly fee.)

37 Comment

  • justinbc

    Uhhh, none of those photos are of the actual unit? (except, possibly, the one of some windows in a corner…)

  • This is precisely why I will be moving out of DC. I’ve lived within 5 miles of the DC border my entire life, and have been an actual resident for nearly 8 years. How in the world can anyone afford a $500,000 (with $500 monthly condo fee) 1 bedroom apartment in Petworth?

    It almost feels like I’m getting pushed out of my own city. If I want to spend $500k I’ll buy something with a yard and more than 500sf.


    • Eatonville is south of columbia heights. Certainly not Petworth.

    • That’s not Petworth, dear.

    • It’s not Petworth nor is it ridiculous, its U Street and its convenience.

      I hope you find your happiness in the burbs.

      Good Luck!

    • 1. That apartment is not in Petworth, it is in the U St Corridor.
      2. Prices in the U. St Corridor for the past 5 years or so have rivaled DuPont Circle pricing — i.e., $500/sf+
      3. This place is 873 sf, not 500 sf.
      4. Mortgage with 10% down (50k, not unrealistic for a working professional) is about $2200/mo at today’s rates. That is in-line with what you will pay to rent an apartment in that neighborhood.
      5. Although the condo fee is high at $500/mo, keep in mind that mortgage interest is tax-deductible. This will likely result in a tax refund in the thousands of dollars, offsetting the condo fee.
      6. Many professional couples or successful single young professionals could afford this place.

      • 1. I mistook the neighborhood, looks exactly like that building across from Mango Grove.
        2. This is exactly my point, the prices are getting too high across all neighborhoods. There isn’t an area in NW DC where you aren’t being priced out of.
        3. Are you really arguing about 350sf? that’s smaller than your run of the mill hotel room.
        4. $50k down, not unrealistic for a working professional in DC? I make a decent wage, and saving $50k to spend on a 1 br apartment is not exactly in the cards. Also, where do you see 1br apartments averaging $2200 in that neighborhood?
        5. Even if you were to pay for the entire glorified studio apartment at once, your monthly payments would still hover at $1,000.
        6. I’m not quite sure whether I’m debating with someone who has little sense of what is affordable (sure sounds like it) but let me tell you this, $3,000 x month for a 1br apartment is not an affordable place for anyone I know. And please don’t use the argument that I don’t know the right people, what couple in their right mind would want to spend this kind of money to not even have a room for a kid?

        Does spending half a million just to live near busboys and poets make sense do you? If it does, be my guest, heard they are expanding the Marvin rooftop again this winter, that should make it a phenomenal deal by next summer.

        • It’s not Mangro Grove, it’s Sweet Mango, dear. For a person who has “lived within 5 miles of the DC border” all their life, you seem pretty ill-informed.

        • I make over $100K/year as a single guy and $3K/month is NOT affordable for me. In addition to saving $50K for a downpayment and needing another $15K for closing costs.
          Folks in DC are deluded (and are often spending other people’s money).

          • Bank of mom and dad!

          • Amen sir. I make well over $100K, but am single and have plenty of debt from school that I’m also paying off, which makes it difficult to save $50K in any reasonable amount of time short of finding a friend willing to let me live for free with them for a year or two (know anyone?).

            I think the only people who can afford these people are people who have literally scraped for five or six years to save a down payment, have two incomes, or rich parents who front the down payment.

            It is really the down payment that keeps me from buying. I could pay the mortgage. But it’ll take me five years or more to save $50K while I rent and pay off student loans.

            Not whining, I don’t expect to get a break. I am often amazed by people I know who make far less than I do manage to buy a place. Not sure how anyone does it.

          • I make far less than you and I managed to buy a place almost $100K more than this one. But that’s because I got a small inheritance when my grandmother passed away ($20K), invested it, then put it in a very nice house in a very bad neighborhood in DC (house was $200K). Put up with living like shit for two years, property values shot up, sold house at almost $200K profit, bought much nicer house in much nicer neighborhood.
            Not saying it was easy or that *everyone* can do that, but you were wondering and that’s how I did it.

          • +1000 on closing cost mention. POPville discussions about what is affordable (and not) too often forget that closing costs in DC are outrageous. Take the % downpayment you think you can afford, then reduce it by at least two or three percent to cover closing as well as the 3 – 4 (sometimes) 6 months mortgage payments your lender expects to see in the bank.

          • I find myself in the opposite position – monthly income makes a much bigger difference in the house I can afford than how much downpayment I can make. I managed to save a fair amount at a previous job that paid a lot more than my current one. So I could make a healthy downpayment, but my current salary really impacts the monthly payment I can expect to make. And that limits my purchasing options more than being able to add to the downpayment would. Increasing a downpayment by 15-20K only increases the price of house you could afford by 15-20K. Increasing the monthly payment by only a couple of hundred dollars would increase the amount of house by 25K or more (because with a 30-year mortgage, you make 360 payments that are that much bigger, so increasing it just a little makes a big impact on total amount, even factoring in principle vs interest).
            I’m not trying to one-up you. Just trying to point out that regardless of our personal situations, buying a home in DC can be really difficult, even for people with decent jobs and/or savings.

          • The tax deductions and not having to move every year makes up for it… $3k/month can be done at $100k/yr if you stop spending a lot of money at bars and restaurants… I used to do that at $78k a year, because the investment increases in value, you’ve gotta see the long term benefits of investing as long as you choose the right house (Not this one at that price though IMO.)

        • I am starting to wonder if you have ever ventured into the city in your time in D.C.

          1. Sweet Mango.
          2. People here make a lot of money. 2 blocks from U St Metro is one of the most popular neighborhoods in the city. Of course it will be one of the most expensive.
          3. I am not certain if I have ever seen a 875sf hotel room. If you have seen one, or routinely stay in them, then you are CERTAINLY not worried about 3k a month.
          4. Its doable. It is a DINK family, that saves it up, or a family like mine (DINK) that bought in Petworth in 2010, and could easily sell my rowhouse and make enought to cover 20% down on this $500,000 unit.
          5. Once again, not sure you have ever even been in the city. 875sf is not small. That is a very large 1br.
          6. This is not meant for 1 person. It is meant for a DINK family. 1 person would likely be renting a studio, unless they make a lot of money (lawyer etc) at which point they could afford this.

          Does spending half a million to be in one of the most popular neighborhoods in the city make sense? To me it does, this thing will appreciate slowly, and you will slowly pay down the mortgage. I would say this is a good deal.

        • For a 1 br + den with garage parking , this could be around the market price esp. if the space is well configured. I remember when these opened and rooms seemed smallin the units I saw.

          The fee is high, even if it’s based square footage, etc. and the tax break only partially mitigates that.

          This complex is an odd one–it was built on the site my old car repair place. The units face each other and there’s nor real amenity such as a view or decent green space, except perhaps for a very few units that might have a view. It seemed like a cramped, probably noisy and dark complex. The only advantage over other newish places might be that you could be away from street noise.

          The 2 baths set-up was briefly popular in the mid-90s for 1 bedrooms and usually means you lose living space and wind up with a cheap kooking 2nd bath and not enough space to entertain. It also means more maintenance costs and down the line, someone will have big remodeling costs.

        • “Also, where do you see 1br apartments averaging $2200 in that neighborhood?”

    • You’ve lived in DC 8 years and you think this is Petworth?

    • I couldn’t agree with you more – and reading the responses here provides a very clear explanation of why people continue to be able to charge half a million dollars for some soul-less glass curtain wall drywall box with overprivileged douchebags who never look up from their smartphone as your building neighbors – because it’s U Street and its convenient! You can walk to all those bars and restaurants, as long as you don’t mind a little gunfire or phone snatching on the way home

    • The answer to this question “How in the world can anyone afford a $500,000 (with $500 monthly condo fee) 1 bedroom apartment in Petworth?” is: People who have access to more money than you do. I don’t mean that in the typically snarky POPville way, either.

      I know there are a lot of long time DC residents who feel they’ve been pushed out of their own city for a while now, so now you can empathize.

    • Let them eat cake. I coukd buy four of these

  • Sooo AWESOME! I’ve always wanted to live in a place that looks like a lobby!

  • Condo fee probably includes the majority of the utilities as well.

  • It went under contract in three days, so I’d have to say it was priced correctly.
    A slightly smaller (800 sq ft) unit in this building, with only one bath, just sold for $485k:

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