Tuesday, April 17, 2007

Condo Sales: Lofts 14 Two [Update]

On Friday nights, my partner and I go to our favorite Logan Circle watering hole for a drink or two to relax after a week's hard work. Typically, we park the car in the 1400 block of Church St NW. Turning into that block from 14th St is like entering a canyon of condo buildings; down the entire block, both sides of the narrow street are lined with multi-story condo buildings. With the buildings and the cars parked on both sides of the street, it could cause a claustrophobic panic.

On that block you find Lofts 14, Lofts 14 Two, Rainbow Lofts, The Metro, and the back of the [under construction] The Metropole. Almost all were developed through renovation of existing buildings, such as the auto body shop converted into the Rainbow Lofts. While I appreciate the urban feel of the neighborhood, I can't believe any unit facing Church St ever gets any natural light.

Lofts 14 Two 1400 Church St NW, DC, 20005

Sales

Beginning in April 2006, the District recorded 44 sales at Lofts 14 Two through January 2007 (flips included); all units were sold.

Information on individual sales is available at DCCondoPrices.com.

Flips

Seven units were flipped through January 2007:

4 comments:

ilovelogan said...

It's quite simple - it's called "location".

Anonymous said...

Although I think many of the units are overpriced (based on the resale prices) at Lofts 14 II, some of the units are exceptional. Some of the units are quite cotidian, some are phonomenal. This is the kind of place I would want to live, but the really nice units are out of my price range, and even if I could afford it, I would not.

The problem with some of the really nice units is that they are not really multi-bedroom with the loft concept. I think they will still be highly sought after, but the pool of people will be smaller, and it will take more time to sell the units.

Despite my criticism, I am a huge fan (of the building, in general, and some of the units, in particular).

condocritic

Anonymous said...

Keith,

Where do we find the original prices for condo projects? The www.dc.gov site offers the last price, which may or may not be the one when the project first sold. I would like to compare the prices from the developer to other projects coming on market.

It seems the prices per square foot are significantly higher than at Lofts 14 II, which I consider ideally located. Also since many of the sales at Lofts 14 occurred just prior to the peak of the housing euphoria, I think these prices are still a little high for similar buildings. Any direction is appreciated.

CondoCritic

Keith said...

Original and all subsequent sales prices for a property can be found in the Recorder of Deeds database. It's pretty tedious to use, but the data are there.