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Neighborhood Condos in the New Orleans Market

New Orleans Neighborhood Condos

     In New Orleans you have a segment of the condo market that I call neighborhood condos.  These are generally historic condos that have been converted into condos from large homes, doubles, four plexes and apartment buildings. These will be in neighborhoods with homes.  The condos will not have large common areas, pools, gyms, and lobbies.

 

    What these condo will have is a neighborhood feel with lots of historic features.  They will be in walking distance of St. Charles Avenue and Magazine Street.  Always plenty to do in all these areas.

 

   It is a segment that you should explore if you are looking for a second home or primary residence.  You get so much more for your money.  The condo fees are generally lower and the units are larger.  I have been doing this segment long enough that I have seen and showed many of the units. Love the neighborhoods and walk them all the time.  

 

    Most people have not been exposed to this segment so it is worth while for me to review this style of condo if you are interested.  Best way to to walk the neighborhoods to get the feel for yourself.

 

St. Charles Avenue Condo,BalconiesPorches

Old Home on St. Charles Avenue into Condos

822-830 Napoleon Condo Doubles

Several Doubles on Napoleon into condos

832-834 Napoleon Avenue Condos

1111-1113 Second Street Condos F

Old Apartment House into Condos,Magazine Street

1111-1113 Second Street Condos

1122 Felicity Condos, New Orleans Condos

Old Town Home on Felicity into condos

1122 Third Street Condo in New Orleans Garden District

Old Home on 3rd Street in Garden District

1326 St. Andrews Condos in New Orleans

Fourplex on St. Andrews into condos

1329 St. AndrewsNew Orleans Condos-Lower Garden District Condo Conversions

Townhouse into apartments then into condos

 

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The Lower Garden District Neighborhood of New Orleans, More NOLA Condos than one would think…

New Orleans Condos in the Lower Garden District

Lower Garden District Neighborhood Trumpet

    The Lower Garden District has become a hot condo market. It is right outside the New Orleans Warehouse District and the Garden District. Check out my page on Lower Garden District Condos. The photos of the area will give you some idea as to why it is more popular than ever.

 

    Most of the condos in the area have been converted from old historic homes, multifamily units and apartment complexes. It’s a great neighborhood to walk to look at all the historic homes. It’s an easy walk to St. Charles Avenue and Magazine Street. Coliseum Square is what I see as the center of the Lower Garden District.  Great place to excercise and walk your dog.

 

    Always good idea to check out the neighborhood before you buy.  Best to get out and walk and take a tour.  Do it so often I could be a tour guide if it paid more.  My tours are free so just let me know when…..

Lower Garden District View St. Vincents

Lower Garden Coliseum Sq. Fountain

Coliseum Cottage in Lower Garden District

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Coliseum Magazine Street ...

Coliseum Suare Fountain

Lower Garden District Apartments in New Orleans

Lower Garden District Home1

New Orleans Home in Lower Garden District, Unique

Magazine Street Dress Shop

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New Orleans Condos Next to the Garden District, Let’s Walk the Neighborhood…

 Condos on and near Magazine Street

      There are quite a few condo complexes between Washington Avenue and Jackson Avenue in New Orleans on the edge of the New Orleans Garden District. There are others on St. Charles, Washington Avenue and Jackson Avenue. Let me take you to the adjacent neighborhood and we will take a look at many of the Garden District Homes.

 

     It’s great to live next to such historic neighborhoods. If you like to walk you will like the neighborhood even more.  More and more people are discovering this area as a great place to be as a second home.  I have sold a number of second homes and primary residences to students and young professionals that love the area.

 

1111-1113 Second Street Condos FSecond and Magazine StreetMagazine Street Condos in New Orleans2326 Magazine Street Condos2512 Magazine Street Condos, Garden District2512 Magazine Street, Once a Victorian HomeThird Street and Magazine StreetThird Street and Magazine Street1122 Third Street Condo in New Orleans Garden DistrictCondos on Third Street, Steps to Magazine Street

Let’s Check out Garden District Historic Homes in New Orleans.

       Just walk the Garden District neighborhood with me to see all sizes and styles of historic homes that you will come across. This is just a small sample of some of the homes you will walk by.

 

        A Short history before we take our walk. The Garden District was developed from 1832 to 1900. It was several large plantations that were sold as large parcels of land to mainly wealthy English Americans who did not live in the Creole French Quarter. It became the City of Lafayette in 1833 before being annexed as part of New Orleans in 1852.

 

Garden District Cottage 4

Garden District Home and Gallery

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Garden District Home, Coliseum and Third

Garden District Home, New Orleans 15

Garden District Home, Wrought Iron Plenty

Garden District Home..Porch and Fence

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The Mayfair Condos in The Lower Garden District of New Orleans, 1783 Coliseum Street

 

1783 Coliseum Condos, Mayfair Condos, Entry Door

     The Mayfair Condos are located at 1783 Coliseum Street in New Orleans right down the Street from Coliseum Square.  One of the reasons that I am profiling this area and the condo complexes that it offers is that is within walking distance of Magazine Street, St. Charles Avenue, The New Orleans Warehouse District and Convention Center.  A longer walk will get you to the French Quarter.

 

    I believe this is the next hot area in the New Orleans Condo Market due to its location and all the historic complexes that really have that New Orleans Feel. The High ceilings, wood floors, balconies, large windows, lots of light and a real sense of history.

1783 Coliseum Condos Mayfair Condos Lower Garden District (1)

      The Mayfair Condos were converted from a 1920’s apartment complex in 2006.   The units feature large rooms with lots of natural light, large closets, bathrooms and kitchens.  All the units have parking behind the complex.  The three story building has one, and two bedroom units with several studios.  The best floor are the second and third.

 

                 The 19 units are are one of the larger complexes in the area as many are composed of anywhere from 6 to 12 units as most were converted from old homes. The complex has gated security and a secure entrance.  There is ample grounds on each side for grilling and walking your pets. 

 

 1783 Coliseum Condos, The Mayfair Condos in New Orleans

 

1783 Coliseum Condos, The Mayfair Side Yard

1783 Coliseum Condos Mayfair Condos Lower Garden District (2)

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Historic Fences and Gates in New Orleans, Garden District Neighborhood, The Right Place for That Condo…

Gates in New Orleans Homes 1

    Giving you an idea of the sites and sounds of the New Orleans Garden District may open your eyes to a wonderful place to own a condo in New Orleans. These are just some of the fancy gates and wrought Iron entries that you find in the area’s homes.

Most of the condos in this area are going to be on Magazine and St. Charles Ave. with several projects sprinkled around.  The more I show in the area, the more I like it.  You can walk almost anywhere for eats and drinks.  You can take the streetcar on St. Charles.  You get to live among some of the most historic and costly homes in the New Orleans Market.

This is a “photo tour of doorways and Gates.  The walks are some of the best in the United States.  Bring your camera and enjoy the area as I do.  Check out the photos and see for your self.  Visit New Orleans Condos Website for more info.

New Orleans Fences, Now that is a post..

Gates in New Orleans, The Growing Wall

Garden District Home-Mansion under the tree

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Historic New Orleans Homes Converted into Condos are more popular than Ever….

      One of the hottest segments in the New Orleans Condo Market is the sale of upscale condos that were once single family homes and historic Duplexes. Its easy to see why when you see how nice some of these fully restored buildings have become.  It makes sense where the neighborhood is right.  You can be in great neighborhoods for half the price and even more of your single family neighborhoods.

     The Uptown, Garden District, and Lower Garden District is where you will find most of these condo complexes. The majority of the these will be between Magazine and St. Charles Ave.  The areas are great for walking, biking, and streetcar rides to the rest of town.  Walking to a coffee shop, sandwich shop, local store, antique shop, art gallery, and fine restaurants are all within easy reach.

     The main attraction remains the old world charm of these homes that are now condos.  The high ceilings, balconies, porches, wood floors, large windows, natural light, and that neighborhood feel.   The best ones are the ones where the developer kept the old fireplaces and tried to duplicate the old features by refurbishing many of the details.  Once this was done he made modern baths and kitchens.

2625 St. Charles Ave. Condos, New Orleans Condos

       The one pictured above is on St. Charles Ave. nestled among million dollar homes.  The one picture below is in the Lower Garden District.  I sold one of the balcony units several years ago for around 160k.  You could not find it in today’s market at that price however.

      The purchasers are split between second homers and purchasers using them as their residences.  Financing was once an issue with these complexes but that hurdle can now easily be overcome with all the local New Orleans Banks wanting to do more business.

    If you are a second home purchaser you do have to think about not being there as many are not managed but taken care of by the people living there.  You want to make sure the complex is well taken care of and the maintenance is up to date.  Many over come this negative with the desire to have a historic property.  They make arrangements to have someone take a look at the property when they are not there.

     When you do your inspections you will have to do a more in depth inspection than you would have to do in a large managed complex.  Since you are going to be one among four or five units, your expenses for major repairs are going to be more.  So looking at the roof, foundation, and checking for termites is strongly recommended.  Most of the condo fees are going for insurance and the week to week upkeep of the grounds and minor repairs that come up.

Condos on St. Mary in New Orleans Lower Garden District

        One of the things I do get feedback on is how much the purchasers of these historic condos enjoy their choice.  They enjoy the feel and love the idea of walking the neighborhood and leaving the car behind.  Pets are almost always welcomed.

       There are quite a few condo associations where the developers has purchased several homes next to each other to make a larger condo association making the association larger and easier to maintain.  Almost of all these developments figure the condo fees on the size of the units.  The more valuable units are the ones with the balconies and porches. The resales are always better on these as it is something people desire to have.

 Magazine Street Condo, New Orleans Garden District Condos

     The condo above were on Magazine Street. It was a total renovation of 5 units  where almost everything was new including electrical, heat, air, and  plumbing.   The one below was on Prytania  and was also a total redo.  It sold recently within a week of coming on the market.

     Many clients start looking in other areas of town because they have less knowledge of these areas.  Then if they are interested we review and look in this segment because they just get so much more for their money than they would in the Warehouse District or French Quarter condos.  

     There are not going to be that many choices but since I really like this segment I try to see as many of these that I can in order to stay on top of this market.

Lower Garden District Condo on Prytania Street

 

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The Uptown New Orleans Condo Market has been Hot….Increased Sales and Limited Supply

     The New Orleans Condo Market is doing better in all areas in 2012  with increased sales and a much more limited supply.  The better units that are priced correctly are generally selling with 2 weeks.  The condo market is following the uptick in the single housing market that picked up in the Spring of 2011.  This is happening in all price ranges.

Reasons this is happening….

     Interest rates are below 4% and local banks have financing for all types of condos.  Owning is cheaper than renting at this rates in many cases.  Your principal and interest are about $900 when borrowing $200,000. 

     Rental Rates are up over 10%  and are not easy to find as competition is stiff for the nice things. I recently had a rental listing and 16 people looked at it in three days. It was rented the second day for over $1500 for a small two bedroom and one bath shotgun.

     Pick up in other condos areas, Warehouse District and French Quarter  This is especially true with people looking for second homes where finding something in their price range is now harder to find.  Many more are willing to come to Uptown New Orleans. 

    More people want the area, its getting more exposure The area along St. Charles Ave. and the area between Magazine and St. Charles is getting plenty of interest.  You can walk to so many places.  Parking is much easier than other areas.  So many things to do….

    Variety of Styles…. You can look at historic renovations of old homes, to small complexes and some large complexes  along St. Charles Avenue.  It all depends on what you like.

    Condos are much cheaper than homes…Starting out the prices of homes are pricing many out of this market.  So a condo is a viable option that gives you a carefree home. 

Magazine Street Condo, New Orleans Garden District Condos

     Growth in the local Job market , The New Orleans area is producing more jobs and people want to live where the action is.  People are feeling good about themselves and the local economy.

     People are just more positive about the city and this translates in a desire to be part of something special….Thanks to Mayor Landrieu for being a great leader….There are new things on almost every block in the area. 

     The City of New Orleans is just getting younger…Many time condos are a better way to get started and young people are a great fit to own a condo.

      The prices are up moderately and that have been about even since 2009.  Many sellers are just pricing the condos better in most cases.  You will see ones overpriced but they will sit there. 

      Now may be the time for you to be in the market.  Get an agent that knows the market and is not afraid to give you the pros and cons on the condos that you will see. Get the sales history and the overall trends of the area. 

3915 St. Charles  Ave, St. Charles Gardens Condos

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Coliseum Square Neighborhood Condos, Condos and home live togeather…

     This is a good example of one of the historic condos in the coliseum area that I have recently sold.  Its an historic building that has been totally redone, its basically new construction at this point.   Surrounded by million dollar homes with green space in the form of an urban park called Coliseum Square. 

      There are several condo association within 3 blocks of the Square and park.  Located in the Lower Garden District, its close to everything.  This one is located 1446 Camp Street across the street from the Park and its many oak tress and fountian.  Its only 4-5 blocks to the New Orleans Warehouse District which is still very much in demand.  Walk to Magazine Street and watch the changes going on there.

     As housing prices firm so do the prices and demand for condos that fit peoples needs.  People are still picky and want the most for their money.   The big difference in this area is the type of conversions that have taken place over the last ten years.  Many conversions are turning small apartment complexes that were old homes into condos.  This gives you the historic feel of a modern place with high ceilings, large windows, wood floors and some nice views that would be very expensive in other areas of town.

    The unit we sold is the balcony unit overlooking Coliseum Square with with plenty of natural light.  Each unit has gated parking.  There are only 6 units within the renovated old home.  The developer went over the top trying to keep the old features while at the same time making this almost new construction.

    The prices in area make the neighborhood much more affordable the neighborhoods surrounding it.  The historic condos fit nicely into the neighborhood and add life to the total neighborhood.  The more owners you have in an area, the more they care about the quality of life and their investment.  Just another area of New Orleans that gives you a taste of the Crescent city…..

Haloween getting ready in New Orleans

1446 Camp Street Balcony

Coloseum Square in New Orleans

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What will be the next Hot area in the New Orleans Condo Market ?

     When you wonder where the next hot area for condos you have to look at what is currently hot and what that area has to offer.  Can that experience be duplicated elsewhere ?  How is the housing market doing in that area ?  How close is that area to where you would like to be but cannot afford to live there.

     The condo market is an alternative to a house for many.  The condos in New Orleans are becoming a second home to many.  Condos are a way to avoid paying rents that are very high at the moment and have been that way for a couple of years.  You can live in an area that has very expensive homes in a condo.  So if the housing market is strong then the condos in the area will tend to do well.  If people are just discovering the area then it only takes 10-15 clients to make a trend.

     Two of the areas that I see that happening is the Lower Garden District and the Garden District.  The housing market is doing well in these areas.  Its close to or next door to the New Orleans Warehouse District which is the hottest condo market right now.  Transportation and drive times are small.  The prices are cheaper.  The demand for historic condo conversions is still alive. 

     People are discovering the Magazine Street corridor and all that it has to offer.  Shops of all kinds.  Lots of restaurants and coffee shops and its all walkable.  Its close to downtown and close to LSU and  Tullane University hospitals.  Close to the new VA hospital as well.  Its close enough for students and law students going to Tulane and Loyola Universities.  Its close to the new VA Hospital, LSU Med school and Tulane Med school.  The furture demand is going to be there.

Condo Market New Orleans, Next hot area

     I have experienced the increase sales in the area in 2011 as I have  sold 5-6 units in the area.  I have also seen the properties come and go at a rapid pace when the price was right.  A number of them went under contract in a matter of days.  This is even when financing has been hard.

     The other area that will begin to show more promise is the Lakeview and Lakefront areas as the market has been doing well there as well. Have to save that for a second blog.

 Lower Garden District Historic home in New Orleans

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St. Elizabeth’s is in the Christmas Spirit ! Now St. Elizabeth’s are condos…Merry Christmas!!!

     The St. Elizabeth Condos  in Uptown New Orleans have not always been condos.  The historic New Orleans condo complex is located at 1314 Napoleon Ave.  It looks ready for Christmas as it is brightly decorated with red bows and green trim.  It is just a very pretty building dating back to the 1850’s.

     Many if not most of the condos in New Orleans Market did not start out as condos but were built for other uses.  St. Elizabeth’s started off as a school.  It then became an orphanage several years later.  In the later years it was purchased by Anne Rice , the vampire author who called New Orleans home.  It was purchased and developed as condos in 2004 and sold as condos in 2005.

     The conversion such as this building is what buyers like in New Orleans.  If a developer can redo and develop a historic building upgrading the the building with classy redesign then he will have a winner in all price ranges.  It still got to have a great location as St. Elizabeth’s has done. 

      There has been little turnover since the conversion.   The few condos that have come on the market have sold fairly quickly.  Its because there are not enough top notch condo conversions to meet the demand in this price range.  There were town homes built on the rear of property but they lac the historic feel of the historic building. 

     Merry Christmas and a Happy New Year as 2010 is almost gone……………….

St. Elizabeth's Condos in New Orleans, reeadies for Christmas

 

St. Elizabeth's Front Door

 St. Elizabeths Condos

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