June 11, 2007

It's A Condo, It's A Rental, Whatever You Like

The Story:
--- Just like at Quincy Court, many units at 1010 Massachusetts Ave., that's ten ten Mass, are being offerred as rentals in this "condo" building. Allegedly 70% or so of the units have been sold, so the prospective landlords must be owner-investors. Its surprising how many units are being offerred by investors as seen on craigslist: rentals. Not sure what I make of this.
--- Prices at the 163-unit bulding start at $400k and go up to $1.5m. This one is for sale on craigslist too.
---The building, which should be ready late this summer, will have the usual granite and stainless kitchen. Rooftop pool is nice.

View from the Bubble:
--- No doubt the ability to hold condos off the sales market as rentals is helping to shore the DC condo market up, as seen from the May sales data. Unlike Condos in Chantilly, say, the owners can sell or rent. It's nice in life to have options.
--- This condo is not really in a gentrifying neighborhoods as much as a forgotten one. Not much retail nearby or restaurants for that matter. Nonetheless the Mt. Vernon Sq. area is convenient to downtown and close to Logan Circle etc. Beck is around the corner.

1 comment:

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