Home Buying in 20001>Question Details

Matt, Home Buyer in

any one know something about 400 mass condo in dc?

Asked by Matt, Sat Apr 19, 2008

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400 Mass Residential Condominiums is a well maintained property. The board is very active and ensures the integrity of the property is maintained and they work well with the property management to accomplish there goals. 400 Mass as onsite property management, engineers, and 24 Concierge service. I am the Sr. VP of the S.P. Jones Enterprises, LLC, which provides the concierge service to 400 Mass. 400 Mass has one of the best rooftops I've seen in the Washington, DC area, it is convenient to Safeway, shopping, and transportation. The rooftop boast a swimming pool, several well appointed sitting areas (some of which you can reserve for gatherings), stainless steel grills and more. Last summer the rooftop was reserved for a wedding party that went into the evening, such a breath taking event, decorations and scenery. Okay, I'm bias, but we do service other buildings in DC. Visit us on the web at http://spjonesenterprises.com/. Happy hunting!!! George
0 votes Thank Flag Link Wed Mar 31, 2010
Hi Matt,
If you want to buy before you're really shut out of that price point, find a realtor like myself who specializes in that niche, get a loan pre-approval so you're ready to submit an offer that will be taken seriously when you do find the right property, and make the process a priority. You have to be realistic as well. I've been telling clients for two years that the under-400k price point for 2 BRs and 1+Dens in the desireable areas of DC were disappearing. Some jumped and are living in great condos now, and others dragged their feet and are now distressed to find that product nearly impossible to purchase. It can still be done but you need to work closely with a professional who spends all their time in that sector of the market. Make the commitment and make it happen. Good luck!
0 votes Thank Flag Link Wed Mar 17, 2010
It's not impossible to find a 2BD/2BA in NW D.C, but it is a bit of a challenge. The Glover Park/Cathedral area has some listings (zip code 20016) and so does Columbia Heights (zip code 20009). Other areas are Shaw, Eckington, Petworth - all in NW D.C. Also, the odd building in logan circle (20005) sometimes has possibilities. You will have to comb through a lot of ground-floor and 1st floor units, places with high condo and coop fees, etc. in that price range, and some of those neighborhoods are definitely still "up and coming" even though they are in NW.
0 votes Thank Flag Link Wed Apr 30, 2008
Thanks for the all advise. I did view their 1BR/1BA and didn't like the model.

I have searched for a 2BR/2BR in Washington DC for 350K for the last one year and am almost giving-up. I don't want to leave in NE, SE, SW or the suburbs. Am I searching for the impossible or are the prices in DC so high - I have to give up
0 votes Thank Flag Link Wed Apr 30, 2008
Hey Matt, if you still need info on 400 Mass Ave I'd be happy to help out. I actually own a unit there, though I do not live in it. I was one of the original purchasers and have had it rented out since I closed in January of '05. I'm happy to try and answer any questions you may have.
0 votes Thank Flag Link Tue Apr 29, 2008
Dear Matt, the 400 Mass Ave Condominium is a few years old, sandwiched between the ultra-hip Chinatown neighborhood and the up-and-coming Penn Quarter. It is association-owned and all sales are re-sales (i.e. you are not buying from the developer). It shares a city block with its largest competitors, 555 Mass Ave (already built and sold out) and the currently-selling new condos of 425 Mass (the Dumont). B/c it is just slightly north and east of the "thick" of Chinatown, it is a popular option for those wanting the fun of the area, who cannot afford the premium prices of some of the neighbors a few blocks south and west (the Clara Barton, Lafayette etc...). It is very metro accessible. There are a range of units, with smaller 1BR units hovering in mid to high 300's - these will be small units (under 700 sft) w/out parking or balconies, and probably will not have high-end upgrades. The higher-up and larger you get, the higher the prices, with 1BR plus dens getting into the mid to high 400s. A bit of "specu-vesting" did go on it that building, resulting in foreclosures and driving prices down a little since the 2005 peak. Not helping is 425 Mass Ave, which is releasing new units. On the interior, the units are standard new-construction rectangles for the most part, with open kitchens, and washers and dryers in-unit . Pricing and desirability will depend on the view, floor, upgrades, and square footage of each unique unit, but the developer was not looking to blow anyone away with thoughtful architectural details or anything like that. They made some bold choices with the bright paint colors in the hallway, going a little Miami-art deco. The common areas (business center and gym) are adequate but again, not super high-end. The rooftop area with big bbq pits and the pool is very nice. It is uncertain whether the mammoth City Vista condo to the North and East with affect the Mass Ave buildings. It might be just a little to far from the heart of the "fun" to factor into the supply and demand, but it is hard to know for sure. Overall, if you are looking to get into the Penn Quarter or Chinatown neighborhood at a somewhat more affordable price, 400 Mass Ave may be a good option. In light of the sheer volume of units in the neighborhood, there is some price volatility, so you want to be sure to negotiate and get a good deal.
0 votes Thank Flag Link Mon Apr 28, 2008
What information are you interested in?
I would be happy to help you.
Web Reference: http://www.northropteam.com
0 votes Thank Flag Link Mon Apr 28, 2008
If you're talking about the foreclosure, they bought for $266k in August and are trying to sell for $319k!!!
0 votes Thank Flag Link Sat Apr 26, 2008
Yes; what exactly did you want to know?
0 votes Thank Flag Link Sat Apr 19, 2008
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