Smaller Units

There was an interesting article today on Urbanturf.com about the appeal of small units in DC.  Here's a link to the story.  The article features a 302 SF unit, which is in Foggy Bottom and is being sold by our good friend Lindsay Reishman.  Here's pretty much the whole unit:

Our upcoming project at 1120 Rhode Island Ave will feature eight units, which range from 500-650 SF.  We've sold several other moderately-sized units in the past, and we've found that they are usually the first units to sell.  Here are the reasons that we've seen why buyers love our smaller units:

1.  Cost-  Let's face it, smaller units are less expensive.  They often allow buyers to get into the most popular neighbors at a more attractive price than other, larger units.  Our units also are all new with high-end finishes, which is hard to find under $400,000.00 in DC.

2.  Location-  Our units are in the middle of downtown DC, close to pretty much everything.  Buying a unit with slightly less space but in such convenient locations is a trade-off most buyers are willing to make.

3.  Piede-a-terre-  Literally a "foot on the ground," often buyers who travel a lot for work like to keep a place to sleep when they're working in DC.  It's less expensive in the long run than staying in a hotel.

4.  Investors-  Apartments generally rent based on bedrooms, not size of the unit.  If you're buying a condo with the intention of one day renting it out, you'll get a better return on your money by buying a smaller, better priced unit.

5.  Lifestyle-  Single buyers and young couples don't need all of the space and upkeep of larger condos or houses.