Cotton Mills Condos in the New Orleans Warehouse Distirct still remains a popular Choice!

        The Cotton Mills Condos at 920 Poeyfarre Street is still a great choice for a condo in the New Orleans Warehouse District.  This is especially true when looking for a condo in the under 200k range.  Few complexes have the security, courtyard, pool, exercise room and the Warehouse District feel.  The high ceilings, exposed brick, wood floors and large windows are still in demand.  The units do not have parking but do have access to parking across the street for a monthly fee or many just park on the street. 

       The latest sales data from the Cotton Mills Condos is that there are 15 units for sale with 4 currently under contract.  Two have sold this past week.  That is not a bad number considering that there are 288 units in the building. The building spreads over a large city block and 4 fl0ors of condos.  Out of the ones for sale some of the condos are just overpriced and some are not just desirable to own at the asking price.  There are 10 one bedroom units, 4 two bedroom units and one 3 bedroom currently for sale. 

     They are among the easiest condos in the New Orleans Warehouse District to rent if use it as a second home or an investment.  The condo fees are very reasonable and the common areas seem to always be well maintained.  The on site management company is on top of any issues that tend to come up.  Its the type of condo where you can leave and come back a month later and nothing would have changed.

    There are few one bedroom  rentals availiable in the Cotton Mill currently for rent. I check this week and there were only 2 condos for rent.  One was a studio and one was a one bedroom that was over priced.  The nice things have been renting quickly amd that we why we see few.  This has been a trend for several years.  

    The Cotton Mill is also one of the few FHA approved condo  in the New Orleans Warehouse District.  This means you have a 3.5% down payment if this will be your primary home at the most competive interest rates. Rates are on the way up but they tend to vary weekly but I do not think we will see 4% rates again but under 5% is still great by historical standards.

Cotton Mill Condos in New Orleans Warehouse District

      The location is getting better and better.  The World War II Museum is a block away and still growing for the next 10 years.  There are 3-4 Warehouse buildings within the block that have been converted into upscale rentals over the past year.  You can easily walk to the French Quarter, The Riverwalk, The Convention Center  Harrah’s, the Superdome, Lafayette Square  and the New Orleans Arena.  There is just a lot of things going on in the area that makes it positive. 

      There is even  a full service Market and Deli opening soon directly across the street by my friend Nick Nesbit in 2011.  The Poeyfarre Market has its own blog and Facebook fan page so you will have to check it out.  New Orleans is always a place that supports a  local business so I hope he does well and look forward to a new business in the area for 2011.  The street is not that big so you cannot miss it.  Maybe he will have a Grand Opening Party when he is ready….

211 Cotton Mill Condos Windows

     If you have seen one unit, you have not seen them all as the variety of floor plans are mind boggling.  I have a page on my New Orleans Condos website  where I post the past listing so you can get an idea of the variety of the units and a great feel for the condos before you even take you first visit to the Cotton Mills.

      I currently have a nice 2 bedroom and 2 bath unit facing the courtyard on the 3 rd floor reay and waiting.  Its #336 that has been totally updated and is reasonable priced.  In fact its the best 2/2 in the Cotton Mills.  The Cotton Mill page is a link away.

211 Cotton Mill Condos Pool

      The Common Areas are among the best for a New Orleans Warehouse District condo in the 200k range.  The Cotton Mills condos features a large 25,000 square foot courtyard with a swimming pool, Clubhouse, and a large workout  gym.  The in person security is in the lobby with an on site management office. 

      I think it has one of the better management staffs in the Warehouse District.  There is no parking for each unit but parking is availiable in a lot across the street for a month fee of $125 per month.  You can always park on the street for free.

289 Cotton Mill Natural Light

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA