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Studio Penthouse in Warehouse District,New Orleans

“Studio Penthouse”

Great Second Home in New Orleans

New Orleans Warehouse District 

448 Julia Street #400

New Orleans 70130

$175,488

     A very rare and unique condo for sale in New Orleans Warehouse District. Low Condo Fees of $143 per month. Fully Furnished with some great views and near the pool. The Gallery Row Condos are near the corner of Julia and Magazine. This is now the cheapest Warehouse District Condo for sale. Makes a great second home for visitors to the City of New Orleans.

 

    You can rent a parking spot in adjacent lot.  The Electric bills are also very low and water, insurance,exterior upkeep are in the monthly condo fees. The owner did a lot of recent updates with new furniture as well.

 

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Luxury French Quarter Condo,1225 Bourbon St.

 

1225 Bourbon St. Condo

Like New Luxury Condo

 

         This is a Historic Renovation and Conversion that is like a new condo in a great location. The historic renovation features lots of natural light, high ceiling, wood floors, gas cooking, courtyards, balcony and upscale appliances..

 

       All the living area is upstairs with kitchen, dining, living and sitting area. Almost everything is new and the conversion was finished in 2016.

 

 

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French Quarter Condo at 1015 Burgundy #6

Condo at 1015 Burgundy #6

New Orleans French Quarter Condo

One Bedroom with Great Light and Views

     A one bedroom and one bath condo in the residential area of the New Orleans French Quarter. Easy walk to the streetcar line on N. Rampart and the Cabrini playground down the street towards Esplanade. Not far from the Marigny and Esplanade Avenue.

     The complex has 8 units with a nice courtyard with fountain and lots of green plants. The condo is on the second floor with lots of natural light with windows that overlook the courtyard. The balcony overlooks the courtyard. 

     The condo fees are moderate and cover the insurance, upkeep of building, water, trash, termite and common areas. This makes it a great second home.

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The Colonial Condos at 1301 N. Rampart steps from the New Orleans French Quarter

1301 N. Rampart, Colonial Condos

Colonial Condos, New Orleans, 70116

Corner of Esplanade Avenue and N. Rampart

      The Colonial Condos are steps away from the New Orleans French Quarter. You get much more for your money here because you are on the edge of the Quarter. With the new street car line coming,the area will get another boost by being right on the line.

 

     The 80 year old plus building was once a furniture store. Its was totally tranformed into 33 condos in 2007. The 5 story building has one bedrooms, two bedrooms and several penthouses. Each condo has a gated parking spot and a gated storage area on the first floor. This is rare for the area.

 

     The Condo fees are moderate. There is a fitness room, saltwater pool, balconies, hardwood floors, guest lounge, balconies. Hard to beat for the updates and open floor plans

French Quarter Corner,Esplanade

807 Eplanade Ave. 2

937 Esplanade, Hotel

.     This is a great example of being right next to a much more expensive area where you get much more for your money. You are close to one of the most expensive areas for condos in the New Orleans Market.  Many agents and buyers overlook this building because it is not right in the quarter but it’s right there.

1301 N. Rampart Condos, French Quarter

1301 N. Rampart Condos

Steps to Esplanade Avenue and the

Marigny and French Quarter

Streetcar 2003 and Eric

New Streetcar Line Coming Soon

Cathedral and Jackson

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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 Cotton Mill Condos in the New Orleans Warehouse District, 920 Poeyfarre Street

289 Cotton Mill Condos,Front Door

     The Cotton Mill Condos were converted into condos in 2004-2005.  There are 288 units in the building that were apartments before that with several penthouse on the roof. The Building was once a Cotton Mill built 1882. It employed about a 1000 people at its peak. It covers an entire block in the New OrleansWarehouse District at 920 Poeyfarre Street between Constance and Annunciation Street.

 

      The units are of varying sizes and configurations. Some condos have exterior view and some have courtyard views. The common historic features that people love are the exposed brick, large warehouse windows, exposed beams, high ceilings ranging from 14′ to 20′, natural light, wood floors and all the common areas the Cotton Mill has to offer.

 

     The common areas include a large courtyard of 25,000 sq. ft. of space with trees, tables, a pool, walkways in the middle of the complex. There is a secure lobby that is manned 24 hours per day. An on site manager and staff that does a great job. There is a large gym, bike storage area, meeting room next to the pool.

 

     The large windows feature city views and views of the courtyard. Even number units have courtyard views while odd number units have city views. Most units have at least two large windows that are at least 6 ft. by 10  ft. on the exposed brick wall. This give the units what I call a true warehouse feel.

 

    The location in the New Orleans Warehouse District is a block from the World War II Museum, several blocks to the Convention Center, a longer walk to the Superdome, Smoothie King Arena and the French Quarter.

 

     Take a look at the photos below to get a feel for the complex.  There is no parking but there are several lots adjacent to the building where you can park on a month to month basis. I have had clients who parked on the street for years however. The condo fees are moderate and you get a lot of common area for the money. The building is well-kept up and you have had ongoing improvements over the last 10 years…

 

     I have sold over thirty condos in the building so could answer most questions that you may have. A Call away, Eric…

289 Cotton Mill Condos,Secure Entrance

289 Cotton Mill Condos,Lobby to Courtyard

289 Cotton Mill Condos,pool

289 Cotton Mill Condos, Pool Yard

289 Cotton Mill Condos,courtyard

289 Cotton Mill Condos,Meeting

289 Cotton Mill Condos, Exposed Brick

Cotton Mill Condos Gym in New Orleans

OLYMPUS DIGITAL CAMERA

Cotton Mill Condos, Clock Tower

OLYMPUS DIGITAL CAMERA

OLYMPUS DIGITAL CAMERA

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Magazine Street Shopping is Becoming more of a Draw for Tourist, Second Homers Love it…

Magazine Street and Peniston

    I was showing a home on Peniston Street this afternoon near Magazine Street.  Got there a few minutes early so decide to walk around the block. Its easy to see why people like to shop in the area. All the stores are unique and all the people in the stores are so friendly. In just 3 blocks there is so much variety.

     I am selling more condos in these areas as people can do so much just by walking out there door.  Its only 5 blocks from St. Charles.  That is what many of the second home people I am selling enjoy…Not using the car.  They invite friends down for the weekend and they all get out to discover new places to shop, eat, and drink.   Its another reason why the condo market in this area has been great for the last two years.

    As more people discover all the things to do, I predict it will become even more popular.  The prices are much less expensive than the French Quarter and the Warehouse District.  You just get more for your money here.  The area is so compact its easy to get to all areas of town from here.

    Magazine Street extends from Canal Street and runs parallel to  St. Charles unit it hits River Road right after going through Audubon Park.

Magazine Street Shops

Magazine Street Shopping, Curtaain Exchange

Magazine Street 3900, Magazine Street Shopping

Magazine Street Court Streetcar

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What are condo reserves ? What is an assessment on a condo?

Since a condo association acts as a group when it comes to collecting condo fees in order to pay bills such as water, sewerage, upkeep, management, insurance and those collective payments.  Most condo association collect more that is needed in the day-to-day operations so the association will have money when something unexpected happens.  If your condo fees are $350 per month may go into a reserve account.  This account builds money over time.

The reserve account is also important for conventional loans as they demand you have at least 10% of your operating budget for those unexpected bills.  In a small association one member may quit paying for whatever reason. The reserves may have to be used.  If something large breaks or is damaged then the reserves come to the rescue.  The reserves may be used as a gap for damage even if the complex has been damaged by a storm.  Condos have large insurance deductibles that often 6 figures.

When reserves are not enough to cover the expense of remodeling or repairing damage then each owner is asked to pay an assessment.  The assessment is generally based on the size of the unit or its percent ownership. The assessment may be spread over a period of time or needed  all at once.  This will depend on how the owners vote to have it assessed.

You will want the condo you purchase to have ample reserves for when something happens or is needed to improve the condo building or common areas.  Many condo association make each new owner contribute 2-3 months of condo dues into the condo reserve fund.  This should be found in the condo docs or an amendment to the condo docs.

Recently I have been to two condo associations that are upgrading the building and the common area.  One is Magazine Place Condo association at 760 Magazine where they assessed the owners for the upgrades.  The building and all the windows had to be painted.  The roof had to be repaired.  You have to do such projects to hold and increase value. The complex looks so much better with a fresh coat of paint and newly painted windows.

760 Magazine Street Condo, New Orleans Warehouse District

     The other association that I was in was 700 S. Peters in the New Orleans Warehouse District which recently painted the Atrium and improved the rooftop deck.  Both these projects make the entire building worth more and will make new buyers want to be there.  It’s basically an investment in the future and an increase in value of the project right now.  People want a home or second home that looks and feels nice.

    Buildings and Common areas just need to be updated over time and by having enough reserves makes it easier to upgrade.  Many times you will get a combination of reserves and assessments when upgrades are made so as not to drain the reserves for a real emergency.

700 S. Peters Condos, Atrium

700 S. Peters Condos, Atrium Lobby

700 S. Peters Condos, First floor Atrium

700 S. Peters, Rooftop Sitting, New Orleans Warrehouse District

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The New Orleans Condo Market is Strong, Second Home Buyers are a Driving Force…

     The New Orleans Condo Market is very strong and would be even stronger if there were a larger supply of condos to sell.  I see this in all areas of New Orleans where people are looking for condos.  The homes are selling quickly and are rising in price, and condos are following in their footsteps.  This is not the case in the Jefferson Parish Market where sales are still slow and prices are not rising.

     One of the big reasons for this is the demand for second homes  in the City Of New Orleans.  The “Baby Boomers” want to enjoy what New Orleans has to offer.  There is always something going on.  It’s a compact city where you do not need a car, and walking can be fun.  Many of these buyers are cash buyers, or they put large sums as a down payment.

     Another interesting note is that many live in nearby cities and towns such as Baton Rouge, Lafayette, Houma, Mandeville, Slidell, Kenner and even Metairie.  I still see clients from Houston and points farther away, but the vast majority are close by.  Many of the out-of-town buyers are helping their kids who live here.  Their kids may be students or young adults getting started in their first jobs.  The plan is for their condo purchase to become a second home once the kids finish school or move on.

     I am seeing clients who plan to use the home more than just for a vacation home.  They plan to live here part-time for months at a time.  This is a new trend that has just surfaced in the last two years.  They are also becoming more flexible in where they want to buy the condo as well.  Most of the buyers have some connection with New Orleans but are not familiar with all the neighborhoods and choices that are available to them.

     That is where “Eric’s Real Estate Tour” comes in!  We can tour all of the areas.  Many times this opens the buyer’s eyes as to what the different areas do have to offer.  By selling all over the city I can generally answer most of their questions about the choices before them…

French Quarter Condos

French Balcony Views on St. Ann

          Many clients only know about the French Quarter and will start their search there.  They will sometimes opt for other areas where prices are cheaper and you just get more for your money.  Many are looking for two bedrooms so that they can have friends visit. The French Quarter may be just too expensive.  Some will stick with it until they find the right one.

Warehouse District Condos

Cotton Mill Condos in New Orleans Warehouse District Exterior

     The demand has been strong in the Warehouse District for almost a year.  There is little supply, and the buyer has to be motivated to buy when something becomes available.  The buyers love coming to the Saints’ games and Mardi Gras, so this is a perfect place for many. Parking generally is not an issue in this neighborhood.  The area has gotten more expensive so I suggest looking in the adjacent areas of the Lower Garden District, Garden District and Uptown.

Lower Garden District & Garden District

Lower Garden District Porches in New Orleans Homes

    The area between Magazine Street and St. Charles Ave has a lot to offer.  Once clients see this, they become open to the area as an alternative choice. Many will start out in that area if they come to New Orleans more often.  They know all the wonderful things living just off of St. Charles has to offer.  Many of the condos off of St. Charles tend to be smaller complexes while St. Charles Ave has larger complexes that were apartment buildings at one time.

Uptown New Orleans

2625 St. Charles Ave. Condos, New Orleans Condos

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The Historic New Orleans Condo Look or the 1970’s Apartment Conversion is a Big Search Point….

When most people begin their New Orleans search they have an fairly good  idea of what they will like or dislike.  For the second home buyer they will generally say give me the historic look first.  Buyers looking for a condo as a primary residence may still want the same things but is willing at all options that are availaible.

2625 St. Charles Ave. Condos, New Orleans Condos

      Outside of the Warehouse District  you will find the more historic condos to be smaller associations that were once grand home turned into appartments years ago.  Then turned into condos in the last 10-12 years.  They will have the high ceilings, wood floors and the historic feel.  Most will not have amenties such as a pool and many will not have gated or covered parking.  Its about 50/50 with parking. A Lot of these are what I call neighborhood condos as they are in  neighborhoods.

Some few will be large units that are quite elegant like the one condo of 5 units that is on St. Charles Avenue.  These are like living in a house and of course much more expensive depending upon the updates of the condo itself.

1122 Felicity Condos, New Orleans Condos

      Another common conversion in Uptown is the old 1920’s apartment houses on St. Charles Ave. and nearby main streets.  These will mainly be smaller one bedroom condo units over 3 floors at most.  Many will have parking beneath or behind the building. They have a great feel but are not going to be large.  A great size for weekend place or student who needs a place to live.

3300 St. Charles Ave, Commodore Condos in New Orleans

      The larger 1970’s complex with amenties and services will be larger units that will have parking, gyms, pools, courtyards and such things.  They will generally be managed by a local management company.  Most will be very secure and in great areas right on the St. Charles Ave. Streetcar line.  Most will not have that historic feel but other things to make up for the lack of that feel.

3915 St. Charles Condos, Pool and Deck, St. Charles Gardens

      In the end its all about what you will like and enjoy.  I have the knowledge of most of the condo associations so can guide you once I hae a good idea about what your criteria is. I am happy to give you the positive and negative of each….

3 New Orleans Condos Banner

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