When I'm purchasing investment property, I look at all risks and weigh all options. When purchasing my primary residence, and planning on stayting for 7 plus years, I buy the house that makes me the happiest! Life can be short so go where you are most happiest. My Financial Advisor agrees :)... more
These condos were originally built as condos, not apartments. So they weren't converted, they were remodeled. I could be wrong in my estimate, but I think 11 of them sold when they were constructed and the rest, due to the market conditions, were rented out. After the market surged, the owners decided to remodel the units and attempt to sell them again.
They used George Kovacs lighting fixtures in the baths, chocolate cherry cabinets and tried to makeover the units in this ultramodern style, which, I must admit, looks pretty cool. The problem is the building still looks like an apartment building to some buyers, plus the parking is located across the street.
On the other hand, 500 N is fabulous address, and an excellent location, smack dab in the middle of all the downtown action. There are smaller projects in the general vicinity, but nothing that surpasses that address, in my opinion. For example, the Davini homes on 5th are zero-lot lines without homeowner association fees, but then you've got the freeway to contend with. And there are others off 16th and D that cost less than 500 N, not to mention the bazillion other projects around midtown / downtown. It's just too bad that the Towers and Aura bit the dust. But for the 500 N Street owners, that's probably a blessing.... more