Rare 2-Bedroom Corner Penthouse Loft: 633 S. Plymouth in Printers Row
This 2-bedroom corner penthouse loft in the Pope Building at 633 S. Plymouth in Printers Row just came on the market.
The Pope Building was built in 1891 and has 91 lofts. It was converted to condos in 2000.
There is no parking with the building, nor a doorman.
This loft has features that loft lovers would like including huge, original industrial windows and an 11-foot barrel ceilings (you can’t see the barrel well in the pictures).
It doesn’t have exposed bricks, or timber beams, however.
At 1680 square feet, it has an open kitchen with maple cabinets, granite counter tops, an island with seating and stainless steel appliances.
French doors lead to the master bedroom which has two walls of industrial windows and a private bathroom with marble and cherry finishes.
The second bedroom also has industrial windows and an en suite bathroom.
It has the features buyers look for including central air and washer/dryer in the unit.
There’s no parking with the building but there is rental or for purchase in the neighborhood.
This loft apparently hasn’t sold since it’s original purchase 20 years.
Is this a rare chance for loft lovers to get this unique corner penthouse space?
Cynthia Bauer at Re/Max Premier has the listing. See the pictures and floor plan here.
Unit #1202: 2 bedrooms, 2 baths, 1680 square feet, loft, penthouse
- Sold in April 2000 for $230,000
- Currently listed at $485,000
- Assessments of $899 a month (includes cable, exterior maintenance, scavenger, snow removal and Internet)
- Taxes of $6152
- Central Air
- Washer/dryer in the unit
- No parking
- Bedroom #1: 20×14
- Bedroom #2: 13×10
- Living room: 17×15
- Dining room: 18×11
- Kitchen: 15×13
This place is no where near 1700ft it’s a touch over 1300sf.
Should put in an offer at 400k and the broker pays $1k for every sf they’re off
Assessments suck for a no amenity building and Sabrina can’t make idiotic claims that it would cost $500/mo to heat
There are some really weird spaces in this building.
The HOA and lack of parking make this a horrible deal.
These ancient printer’s row buildings with no parking and eye popping assessments for almost no amenities are in a race to the bottom for pricing.
“Should put in an offer at 400k and the broker pays $1k for every sf they’re off”
Offer $300 psf, and have it accurately measured to determine the actual price.
That said, $300 psf is way too high for the building. With one exception (1101; duplex 1/1 unit), the high water mark in the last 3 years is under $250 psf. Unsure what’s up with it, but it has traded at a high-for-the-building price psf each of the now 4 times it has sold.
Hmmmm. $899 / mo to pay for elevator maintenance? No parking, no private (or communal??) outdoor space? No wonder after 20 years they are done. Great Pied A Terre material . . . if you bought it at the original price LOL.
I dunno JohhnyU and anon (tfo) – – I multiplied all the actual room floor spaces per what the plan states (maybe it is fibbing) and I got just over 1700 SF. Including the hallways / Foyer gets you just over 1800. This is priced at about $269/SF – – still well above the apparent high water mark for pricing in this building. Assuming a premium for not having anyone upstairs, at $255 PSF you arrive at a price of $459K – – so yes, seems over priced based on that. That assessment for virtually zero tangible benefit is insane. I wonder how well everyone would do if they sold to a condo de-converter and could monetize the reserves and common elements (if any?) . . .
If you look at it as 2 rectangles
Right – 30.5′ X 20.5′ = 625
Left – 38′ X 17.5′ = 665
Total 1290
The Assessments are absolutely killing any potential value. If you look at the other units for sale/recently sold to put it as nicely as possible they’re quirky. Based on these this, location, not “on Trend” and lack of amenities is a pretty low end condo. $250/sf (and 1300sf) with the insane assessments seems about the high end.
A lot of you seem to not fully grasp what a vintage masonry high-rise building costs to maintain in good condition. In addition to the elevator contract and any maintenance staff (I assume there is a least a part time engineer), plus management fee’s, there are the bi-annual facade inspections and any semi-regular facade maintenance. It really depends on whether they chose to do special assessments or to keep assessments high to not have to do them.
” I multiplied all the actual room floor spaces per what the plan states (maybe it is fibbing) and I got just over 1700 SF.”
I re-did it, using each ‘room’ on the floorplan, and rounding up every measurement to the next full foot (eg, 6’1″ became 7′), and I got to 1305. Yes, that doesn’t include closets, but JU’s math does, even if he’s a little on the ’round down’ side.
using the more likely to be accurate rectangles, and giving a little benefit of the doubt, I’d say:
Right – 32? X 21? = 672
Left – 40? X 18? = 720
Total 1392, being a little generous.
Realtor could “safely” call it 1400.
There is NO WAY it’s 1700 unless the room measurements are seriously wrong, and the pix don’t suggest they are.
I cannot explain my mistake fully but appears that the dimensions double count to some degree – – like the entrance foyer where they added a foot to the left hand triangle. LOL.
Welp, this is even more overpriced than initially thought 😉
“No wonder after 20 years they are done. Great Pied A Terre material . . . if you bought it at the original price LOL.”
Was it a good pied a terre at the original price?
I only ask because the mortgage rate was over 7% at the time they bought it. Double what it is now. Your money didn’t go as far back in the day.
Double the 2000 price. That’s priced right.
Not a loft fan but this one is among the better lofts I’ve seen. Nice views, lots of light, decent layout, good location, etc. I actually like that there aren’t any exposed bricks. Lack of parking is a big hindrance, however, though I suppose it helps keep the price down. Do you even need a car here? Probably not.