The Million Dollar Loop Penthouse: 125 S. Jefferson
We’ve been chattering about what you get for a million dollars.
This 3-bedroom penthouse unit just came on the market in the Park Alexandria, a 2004-construction high rise in the central loop at 125 S. Jefferson.
The listing says it’s highly upgraded with 8 foot mahogany doors and stone bathrooms. It has 2 large terraces.
What’s the market at this price point in the loop?
Randy McGhee at Koenig & Strey has the listing. See the pictures here.
Unit #3302: 3 bedrooms, 2.5 baths, 2 car parking, no square footage listed
- Sold in March 2005 for $769,500
- Currently listed for $1.195 million (2 parking spaces included)
- Assessments of $1430 a month (includes AC, TV/Cable, Gas)
- Taxes of $11906
- Bedroom #1: 14×12
- Bedroom #2: 13×12
- Bedroom #3: 14×12
- Living room: 23×18
- Family room: 19×14
- Kitchen: 23×9
Convenient to financial district/trains but not much of a neighborhood. Looks nice enough. Can’t tell if those are real wood floors or pergo. No sq footage noted.
Some upgrading perhaps but +$400K vs. 2005 prices… I don’t think so.
Don’t think I could get there if it was fully A/V wired + equipment, projection HDTV, electric blinds, finished terrace with water feature/zen garden/hot tub, etc.
I looked at units in this building — kinda dumpy. And GLS is right about no neighborhood.
If I’m selling my million dollar place, the first thing I want to show to people is a grainy, crappy picture of the outside of my building.
CCRD for 17-16-107-037-1263 (confirmed by assessor’s office) shows a cash sale in 2005 and then a construction(?) loan for $1,000,000 in 2007.
The exterior, interior and location just do not justify the pricing of this place. For a mil in todays economy, you have to offer A LOT of house just to get a few showings.
Once again, there is a small group of people who can easily afford this, but IMO, it does not offer enough to warrant this price.
“GLS on July 10th, 2009 at 6:38 am
Can’t tell if those are real wood floors or pergo. ”
It’s got to be an engineered hardwood product, but with short (and much cheaper) board runs. It looks like ass whether it’s real wood or not.
Not horribly overpriced, although it depends on the sqft I guess. Fairly tasteful finishes and looks like a nice turnkey property for a retired person who wants to live in the city.
I love the patio!
Co-op level assessments in a condo though? It seems ridiculous especially since it’s a new building, which “should” be efficient in terms of heating/cooling.
Really cool layout, nice views and a gorgeous master bath…
…but you still have to live in the loop.
“Not horribly overpriced”. No. The high assessment, location, and building will bring this one down below 1MM.
I didn’t notice the assessments & taxes when posting… knock off about 300k for that bullcrap!
Agreed with trader. What is going to put pressure on the price is the assessments.
Since when is South Jefferson considered to be “central Loop”?
No neighborhood…..dead on the weekends except for watching people walk to and from the train station….
The place is over 3,000 square feet with additional huge decks, so assesments are not too high at that size…doorman/gym….that’s what you have to pay folks…otherwise, go live in a walk up or a building with a call box…a coop??? a coop would have assesments at 2 or 3 times that…morons.
i dont understand why people hate on this property. if you take a step back and look at the picture again, this isnt a bad deal.
the $1.1M is a bit steep, but it is a nice, cleanly designed, bright and airy penthouse unit, spitting distance to the loop. i personally, love this area, but i may be biased cause i live there. the assessments seem to be in line, esp if you consider that most 1 beds go for around $350 to $400. taxes may be a bit steep but not out of line for a penthouse unit at this (granted approx) size with 2 outdoor terraces. 2 parking spaces are included and a 3rd can be purchased! thats huge!
if it finds the right person, i can see it selling. i’d buy it if $900k – $1M if i had the money.
when i was looking to rent years back i checked out a few places here. didnt like many of them. 1 was nice but ended up going elsewhere. also checked out a 2/2 corner unit when was looking to buy but fealt a bit crammed and i wasnt a fan of the curved windows. building is ok, the PH looks better then other other units obviously.
I haf lived there for over 5 yrs. Compared to all the other crap on the market its a quality building and great staff. Its a west loop bulding neighborhood still developing since its also at the end of the business district. 2 blk to river, 1 mile to art museum, next to all transportation options. I actually miss it compared to other buildings I have lived in.