The Cotton Mill Condos in New Orleans Warehouse District is a great place to be. It has a lot to offer purchasers in the under $200,000 price range. It is one of the larger condo associations in New Orleans. It has amenties like secure entrance with 24 hour personnel on duty, a giant courtyard, updated gym, pool, secure lobby and on site management.
The 288 units offer a variety of styles and sizes. The more popular things that people like are the larger windows, the exposed bricks, and the high ceiling with exposed beams. This is the true warehouse feel in New Orleans. The vast majority of the condos are one bedrooms but there are some great 2 bedrooms that come up for sale about every 3-4 months.
One thing I do know after selling at least 30 of these condos is that you will instantly like or dislike them. So its always worth taking a look to see if it fits your needs. They are easy to rent and that makes them more popular today. People will tend to rent their second homes for periods of time so this fits that purpose. Owners are hanging on to their units for longer periods as they are easy to rent.
In 2012 you have not had a large supply of condos for sale in a comeplex that has 288 units. The demand is there for units that are priced correctly. You can see from the data below that one bedroom are trading in a tight range. The differences in price are just just size but the are the Updates, Views and floorplans.
The two bedrooms are going to vary more than the one bedrooms as the floor plans vary much more. Two bedroom condos are generally selling for more that are all on one level rather than the style where one bedroom is stacked on the other. This year you just do not have a lot of sales in tow bedrooms.
Currently there are only four units for sale at the Cotton Mill. The #357 looks to be a fair buy at under 200k. The Penthouse for $650,ooo is a one of a kind unit that has been totally redone with some great city views. The #432 is also a nice unit that will not last lng on the market. It is a total redo of a large two bedroom with over 1400 sq. of living area. I currently have Cotton Mill #352 under contract after about 3 weeks on the market. Price it correctly and sell it quicker.
See recent Blog on Cotton Mill Condos for under 200k, Best New Orleans Warehouse District Buy!!