The condos at 801 St. Joesph Street was one of the earlier Warehouse Conversions of an old building into more of upscale downtown condo. This was not a conversion from apartments. Its got that decorators touch with some very nice amenities which include spacious, garage parking, swimming pool, exercise room and large courtyard. There is a small exercise room all in a very New Orleans style courtyard setting.
The secure entrance leads to elevators for the upper floors. The garage is actually a building separating the condo units from the newer town-homes that were built around the courtyard and swimming pool. The St. Joesph condos are a little of out the hot area of the Warehouse District but are in a much quieter area of the downtown market.
The floor plans are very open with exposed brick and enough windows to give you plenty of light. The high ceilings, granite counter-tops, subzero appliances, wine coolers, and wood floors in the living areas. The crown molding, tile bathrooms and the little touches give the units a nice upscale look.
The Courtyard is surrounded by townhouses that were built in the condo complex. These of course are larger and cost a little more. The brick wall on the left colapsed during Hurricane Katrina when the building next door fell. It is being rebuilt to give the courtyard that very private feel.
A recent sale was that of a town home that went for 400k and was 1593 sq. ft. in living area. This works out to 251 sq. ft. When you compare square foot prices you need to compare condos with like size units and very similar locations. The prices per square foot will drop as the units get bigger in the same class. Its always a factor in looking at prices but often times other factors over shadow these numbers.
The bathrooms are a big factor in making condos fall up in class. It generally pays off in the end as do the upgraded kitchens.
There are currently 2 units for sale in the St. Joesph Condos with one currently under contract. There is a corner unit of about 1600 sq. ft. for sale that is priced at $499k which is close to $300 per sq. ft. which is what larger very nice units are selling for in the area. There is also a first floor unit that is priced at $345k which is a nice floor plan. The problem with first floor units is nothing in the way of a view and thus is discounted in price for that negative.
The three sales since the beginning of 2007 were 2 condos and once of the townhomes that was mentioned above. The corner unit that was a 2/2 with parking sold for $470k which was around 1600 sq. ft. This worked out to $293 per square foot. It also had 2 parking spaces and was a corner unit on the upper floors with city views. It was a very high end unit and was abble to the price setter in this building.
The third sale was a ground floor unit that sold for 350k and was 1390 sq. ft. which put it at $252 per square foot. The differrences here was the first floor location, lack of views, and overall floor plan. It was not in the Luxury class of the other unit and that accunts for the differences in selling prices. This is an example of how the numbers work but only if you kow the reasons behind the numbers.