Posts Tagged ‘plight of the condo’
Plight of the Condo: 56 Galveston Place SW #2B
A miniseries in which we examine the Mystery of the Vacant Condo.
The property: 56 Galveston Place SW
The price: Two-bedroom condos from $124,900
The leasing agent: Rhonda Hamilton, Coldwell Banker Household Realty
Listed since: March 28, 2008
The story: Two and a half years ago, 56 Galveston Place was a shell of a building: gutted by fire and utterly unlivable. But when a new owner snagged the property for $250,000 (ballpark), the brick house became a four-unit, semi-luxe condo, complete with granite counters, central AC, and recessed and track lighting.
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Plight of the Condo: 738 Longfellow Street NW
A miniseries in which we examine the Mystery of the Vacant Condo.
The property: 738 Longfellow St. NW #108
The price: One-bedroom condos from $179,000; two-bedroom condos from $199,000
The leasing agent: Eugene Gallagher, Gallagher & Co. Real Estate Inc.
Listed since: February 6, 2008
The story: Of the 66 units listed since February of 2008, 12 remain vacant. “We were moving these very nicely and rapidly until the climate of the finance market changed,” Gallagher observes, noting as well that a stricter screening process for potential buyers and the fluctuating availability of HPAP money have proved impediments.
Second Opinion: City Lights editor Mike Riggs, who lives a block from the property, expresses reservations about the neighborhood. “I’m not surprised they can’t sell it,” Riggs says. “MPD had an enormous, generator-powered spotlight right at the corner of 7th and Longfellow. Who wants to pay to go through a police checkpoint every three months?”
