Archive for the 'Warehouse District' Category
Warehouse District Corporate rental, Hard to top this condo at Gallery Row….
May 22nd, 2011 categories: Condo Listings, Warehouse District
A virtual tour of a luxurious 1,900 square foot New Orleans Condominium created by combining two smaller units. Three bedrooms and three and half bathrooms. Two years of custom renovation for exposed brick wall and nine perfectly restored cypress windows. Loft design with 18′ ceilings with hard wood floors on the first level and carpeting in the loft bedrooms. Unit for sale or lease contact Eric Bouler with Prudential Realty at [email protected] or www.neworleanscondos.net .
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The Cotton Mill Condos in the New Orleans Warehouse District, 2/2 under 240k, there are 3 for sale…
April 17th, 2011 categories: Market Trends, Warehouse District
The Cotton Mills Condos in the Warehouse District is one of the few places where you can find a two bedroom and two bath condo for under the 240k level. Buyers and residents like the complex because it has easy access to parking, the real New Orleans Warehouse feel with high ceilings, wood floors and large windows. Add in security, a giant courtyard of 25,000 sq. ft., on site management, and a large gym fully equipped. The security is on duty day and night once you enter the secure entrance at 920 Poeyfarre.
A great location for easy access the the interstate, French Quarter, Convention Center and the Street car line that runs down St. Charles. Its a block from the World War II Museum. Its a very short drive to the Medical schools of Tulane and LSU. Its a short walk for everyone working in the Central Business District of New Orleans.
There are actually 3 two bedroom condos for sale currently in the building. The condo fees here cover all insurance, upkeep, basic cable, water, sewerge, and garbage, security and even hot water. The condos are always easy to rent because of the amenties that the association has to offer.
All the two bedrooms that are for sale in this range are what I call “stack-able” meaning one bedroom is stacked on the other. This is doable on the 3rd and 4 th floors as you have at least 18 foot ceilings and twelve foot windows. The two bedrooms that are on one level are going to be higher in price than the stack-ables. These units are great if you want to have a roommate as you have great separation of space.
The Cotton Mill Condos can be financed using an FHA loan which means 3.5% down but you have to live in the unit. Rates today are right under the 5% level.
I have sold over 30 condos in the building so know that buyers either really like the complex or do not. Its either your cup of tea or not.
Here is a brief description of the three condos currently for sale under the 240k level.
Condo #326 is a renovated unit that faces the courtyard. The unit has been updated and looks great. The current owner has made several positive modifications to give him a small office upstairs off the bedroom and more room in the living area by moving the bedroom wall. $239,500
Condo #336 is also renovated and faces the courtyard as well. The kitchen is larger than most and both bedrooms are larger as well. The condo was used as a second home recently so it has been used very much at all and is a one owner condo. It is my listing. $238,5000.
Condo #423is a unit that faces the interstate. It has not been completely renovated and is on the top floor of the Cotton Mills. The condo is 1002 sq. ft of living making it the largest of the three. The price is $235,000.
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Condo fees have to take care of updates and repairs…Improving your condo association pays dividends…
April 10th, 2011 categories: Condo Knowledge, Warehouse District
A condo complex is like a community of people who may have different ideas and objectives. The use of condo fees is important in improving the future value of their condo. You have to pay enough to keep up the complex and make improvements over time. Having a pleasing environment is a must if you want to increase the value of your condo. Having a top flight common area is one of those areas that can help you increase value.
When you do not keep up the necessary repairs as things wear out the value of your place goes down. Some complexes want their condo fees low and do not like to spend what is necessary to keep the association up. It makes sense that the value continues to fall. The condos in the association cannot compete on the market. This often happens when their is a leadership vacuum within the condo association. As a buyer or seller you need to be aware of these factors.
Lets use the Federal Fibre Mills Condos in the Warehouse District of New Orleans as an example of things that get done to improve the value of the complex. Recent updates include new floors in the lobby which is already a show piece. The windows are currently being rehabbed after 30 plus years. This is an expense of over $200,000. It had to be done as they were looking very worn. The rehabis taking months but the results look great. The exercise gym was totally redone last years and now looks great.
Below you can see the courtyard that is always getting something new to make the complex even better than before. This makes many people want to be part of a success. It becomes more valuable when compared to other complexes. The association has still over $200,000 in reserves for things that come up. The windows are a once in a lifetime update that will pay off right now as people see things going on and want to be a part of a A plus building.
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Julia Place Condos at 333 Julia has some great condos in a Great Location..
April 2nd, 2011 categories: New Orleans Condo Reviews, Warehouse District
The Julia Place condos in the New Orleans Warehouse District have become more popular as time moves on for a couple of reasons. The main reason is location with the Warehouse District as it just very convenient to where people want to be. Julia Street is the center of condo living in the Warehouse District. Its actually two buildings with a couple of commercial spaces on the first floo on the Tchoupitoulas side of the building.
The Bemis building pictured below seems to be the newer of the two building and has the majority of the condos over the 5 floors. You miss out on the wooden beams and exposed brick that the older building on the left has. You do however have some large industrial concrete beams and large windows in the units facing the exterior. The Bemis building is on the Commerce Corner closer to the Mississippi River.
Most of the condos have parking which cost the first buyers $25,000. The parking is in the adjacent parking lot or in the garage on the first floor. The condos with parking spots are always going to be more in demand even at the higher prices. The condos with large exterior windows are going to be much more in demand and sell for more. It not all in the square footage.
The smaller building on the corner of Tchoupitoulas and Julia has some great units as well. They tend to be smaller but most have the wood floors, exposed beams, exposed bricks and most happen to be exterior units.
The two bedrooms have been the most popular buys in the building ranging from the 275k range to the 350k range depending on size and quality of the finishing work. Many of the condos in thhis complex were updated by the individuals who bought them and upgraded themselves. There is a few without updates and they will go for less. These could be a great deal if they have all the other qualities that people desire.
The amenities include a roof top pool and sitting area with fantastic views of the city. There are common bar-b-cue grills, a club house and a work out gym on the first floor. The condo fees are moderate for the Warehouse District. The condo fees include insurance, upkeep of the common areas, exterior upkeep, and management fees. The association is professionally managed.
The entrance is secure. The parking areas are secure. The location is one of the best and that is why many people chose the building. It has become a favorite for second home owners since its got a great location and moderate condo fees.
The roof has recently been replaced in 2010 and the owners assessed for the new roof within the last 2 years. That is one of the larger expenses that condos have to redo. The condo also put some money in reserve each month for repairs but generally not enough to fund a major item like a new roof. Each condo is assessed as a percentage of their square footage. The larger one pay more than the smaller units.
In most Warehouse Condos in New Orleans all the units are not equal and many are very different and there is always more to value than square footage. The is the case at Julia Place as well. Always remember buy what is easy to sell, it may cost more but in the long run people buy what they like and want. Stay with the trends and you should do well.
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Warehouse District Condos in New Orleans, One Bedroom condos are making a comeback!
March 29th, 2011 categories: Buyers Agent, Second Homes, Warehouse District
The recent real estate trends of the Warehouse District Condo Market over the last year is that the two bedroom units were the condos that were the most sought after. Now we are beginning to see the comeback for the one bedroom units. You still cannot just sell anything but those priced right that have been updated are constantly getting shown and going under contact.
We are seeing a combination of new arrivals, people now renting, investors and second home people looking and finding very few things to look at. Lenders are still requiring 10% for owners and 20% for second homes. The one exception is the Cotton Mills Condos which have been FHA approved meaning a 3.5% downpayment.
The Cotton Mill Condos has always has been a favorite of the under 200k price range. There have been 4-5 recent sales this year and only a very few one bedrooms worth looking and and a couple of two bedrooms. I have one favorite in the one bedroom category and it is a bit pricey for now.
Magazine Place at 760 Magazine Street has two one bedroom condos worth looking at. They are both priced for over 200k but both have reserved parking which is worth 25k in the New Orleans Warehouse District. Smaller units but both have been updated with v ery moderate condo fees. Below are roof top views from Magazine Place looking at the New Orleans Skyline.
Julia Place Condos at 333 Julia Street has several units without parking and have not been tootally updated. Expect to pay $210-$220 for the better condos with parking and good views. There are currently none for sale. A recent law suit against the condo association has put a damper on financed units. The recent sales have been cash. Look for the law suit to be settled soon. Buy a unit here with parking unless its a super deal.
402 Julia, The Lofts has a couple of small units that need updating but the prices are in the 140k-160k range. They need new kitchens and baths. The have great location and you can rent a spot in the Emeril’s lot. These could be good buys but you will have to update. Neither of the views are great. The Lofts on Julia are above the art galleries on the first floor.
I can cover the rest of the associations on a later update. This gives you an idea of the market and knowing it is hard to now find that unit. Get started early so you will be able to know what is good and what is not a buy. I can get you updated with condos that meet you criteria so you will have some knowledge. I can share my knowledge as well which is as good as any agent that works the New Orleans Real Estate Market.
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New Orleans Warehouse District neighborhoods are close in footsteps but very greatly in a matter of Blocks…
March 14th, 2011 categories: Warehouse District
The map below is a very instructive guide as how close the neighborhoods are. This is how it plays out in the geography of the New Orleans Warehouse District. The areas are adjacent to each other but are almost worlds apart in the lifestyle. It will also give you an idea of how close the areas are and all are within walking distance of each other. New Orleans is a very small area when you talk about the world on New Orleans Condos.
Most of the downtown condos are in the area marked Warehouse Museum and Arts District. There are a few in the Central Business District but not very many. Cross Poydras and you are in a different neighborhood. Most perfer to be in the Arts District until more the Central Business District. Few or no condos are currently in the Medical District but this area is growing and changing drastically with the additional of the new VA hosiptal and expansion of the LSU Medical School. The Warehouse District remains a favorite for medical students, residents and young doctors as a place to be.
Once an area become popular you will begin to see developement in adjacent areas. This is close to happening and most likely would have happened if the Banking Crisis would not be still with us. I feel a shortage of condos and there is a demand as very new projects have been built since Katrina in 2005.
A lot of demand has come from people seeking second homes who buy larger condos so they can invite friends and family to visit. That is why the uptick in the 2/2 in the 275–350k range. Just not a lot to choose from in this market. Rents are great so if part of your plan is to rent then the Warehouse District gives you the best chance. It has been that way for several years and do not expect that is change in the near term.
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New Orleans Warehouse District townhome. Its a rare find in New Orleans !!
March 1st, 2011 categories: Condo Listings, Warehouse District
The 1081 Tchoupitoulas town home is a unique find in the Warehouse District in that it is a fee simple town home with a parking garage owned by the group of 5 town homes. The $200 condo fee is for taxes, insurance and upkeep of the town home community. The owner pays less than $400o for homeowners insurance.
This 1081 Tchoupitoulas condo is the smallest of the 5 units with over 1900 sq. ft of living area. It also has a storage area plus an outdoor patio. Its one of the nicest listings that I have had in the last 5 years.
The town home is immaculate and move in ready. The unit has bamboo floors throughout the entire unit along with tile in the bathrooms. Features include:
Gourmet Kitchen with new gas cooking range, new ice maker, new frig, wine cooler, microwave, custom cabinets, granite counters with plenty of storage. The kitchen opens into the living-dining room combination.
The high ceiling and large windows give you a much larger feel than the square footage says. The unit has been freshly painted by professionals.
Bamboo Floors are in all bedrooms and living areas.
Both bedrooms can be considered to be a masters bedroom. Large closets and executive style baths are very hard to beat in the Warehouse District. California closets in the master bedroom.
The upstairs master opens onto an outdoor private patio for that real outdoor feel. The washer and dryer is in the master. The master bath has a shower and a tub along with a double vanity.
The garage parking and storage areaare right outside the front door. The complex is secure and the individual unit has a security system. The downstairs has its own a/c.
New light fixtures and fans are throughout the town home. This is a great townhome for entertaining.
You are among the best locations that the Warehouse District has to offer. You can walk to all the nearby places of interest. The slide show should give you a great idea as to why this is so unique and attractive for $499, 810.
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Penthouse Condo in the New Orleans Warehouse District, One of a kind….
January 2nd, 2011 categories: Condo Listings, Warehouse District
Many times you are disappointed when you look at penthouse condos. You alway think they will be better than they really are. In the case of this premiere penthouse condo in the Federal Fibre Mill Condos you will not be disappointed. You will be amazed at the details and the views.
Its a great combination of an elegant condo with the New Orleans Warehouse feel. The penthouse features wood milled floors, high ceilings, exposed brick and beams, large windows, city views, gigantic terrace and plenty of natural light. Then add a gourmet kitchen, master suit, master bath suit, large rooms, plenty of storage and many other details that you would expect to see in a condo built by the developer.
The Penthouse Condo is 2995 sq. ft. of living and has three bedrooms, 2.5 baths, dining room, den, wetbar, storage room, large laundry room, office in master suite, fireplace, and living room with some of the cities best views day and night. Many time my photos make the condos look better than they actually are. In thins case the photos do not do the condo justice. You just have to see it for your self.
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Cotton Mills Condos in the New Orleans Warehouse Distirct still remains a popular Choice!
January 1st, 2011 categories: New Orleans Condo Reviews, Warehouse District
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.
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….
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.
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.
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Facebook Pages are another tool for learning about New Orleans Condos…
December 18th, 2010 categories: Art , Music , Parks, Warehouse District
Facebook and Real Estate can easily be used together as a way to give you a glimpse of the lifestyle of an area that you may be interested in. Most people want to see and hear about an area before they begin looking for a condo or home. Facebook has become very photo friendly so its easy to shoot and quote. Then link a news article about the area to give you a feel as to what is happening and what is new.
Its a much more updated way to keep people in the loop of what is going on week to week. Its not only I that keeps up the pages but friends and clients who are interested and have a view that may differ from mine. Its as much about a lifstyle of the area than the bricks, beams and mortor of New Orleans.
Eric’s New Orleans Profile on Facebook is another way to give you a feel for the New Orleans Market and feel of the areas where I work. It has become very photo friendly. Its not all fact and figures but more about a lifestyle of what is going on in the areas. You can follow my posts easily on my facebook fan pages by just pressing “ like”.
New Orleans Today and Yesterday is a collect of photos and things that people remember about New Orleans and what makes our city different. You can share as well. It touches on the history of the neighborhoods with lots of info on the various types of homes and buildings in the New Orleans Metro area. Its getting that feel as people do want lifestyle…..
New Orleans Warehouse District on Facebook is about the New Orleans Warehouse District. It is much newer page and the area is smaller than many I cover. I have hundreds of photos so posting one a day is easy. So much going on and you can read and make comments as well. Its meant to be informative and since seeing is believing it can show you what is here. Few Words and a photo………..
Using this blog and the condo site New Orleans Condos along with Facebook will give you the feel that you need so you can make an informed decision. You can always just call me to go over any questions that you may have or we can meet wherever to talk about your needs…..
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