Sales at The Floridian Start This Thursday

• February 22, 2010

by Mark Wellborn

The Floridian

The Floridian is kicking off sales this week with a grand re-opening on Thursday night. To register for the event, click here.

The FHA-approved development in the U Street Corridor consists of two eight-story towers at 919 and 929 Florida Avenue (map). Eighty-six condos will hit the market on Thursday, including studios, one-bedrooms, two-bedrooms and three-bedroom units. One-bedrooms average 750 to 900 square feet and two-bedrooms average 900 to 1,250 square feet.

The project will be closely watched in the U Street Corridor, where new condo inventory has dwindled to just a handful of units.

Recall that The Floridian was acquired recently by Bethesda-based investment firm The Goldstar Group, who announced new pricing a few weeks ago in anticipation of re-introducing the project to the market. “We’ve changed the pricing structure to make it more affordable for the area and for new prospective purchasers,” The Goldstar Group founder Michael Brodsky said in a statement. “We are now well-positioned to meet the market.”

Below is the price sheet for the development.

Related post:

• CityScape Sells Out, Leaving Few New Condos For Sale in U Street

This article originally published at http://dc.urbanturf.com/articles/blog/sales_at_the_floridian_start_this_thursday/1801

30 Comments

1. love43 said at 1:22 pm on Monday February 22, 2010:

   Yeah, there is only one condo that is priced @ 333K and it is very small. The other one bedrooms start @ 350K which is fare but it would be great if parking was included. Does any one know if they have a rooftop pool, gym and concierge?

1. Pizz said at 1:26 pm on Monday February 22, 2010:

   Have been pretty excited to see the inside of this project.

1. Michael said at 1:39 pm on Monday February 22, 2010:

   I can’t wait to see The Floridian. I know someone who had the opportunity to preview the models and he said they were beautiful.

1. Richko said at 2:12 pm on Monday February 22, 2010:

   I read that settlements were “halted” last year but was never clear on whether people had actually moved in before that.  Does anyone live there yet?

1. SP said at 2:42 pm on Monday February 22, 2010:

   Nice prices. These are going to go fast especially with the home buyers credit still available!

1. Michael said at 2:52 pm on Monday February 22, 2010:

   From what I have heard, I believe they have previously settled over 30 units. This will enable them to start immediate settlements once sales begin again.

1. Greg Schneider said at 3:33 pm on Monday February 22, 2010:

   My name is Greg Schneider and I am the new sales manager at The Floridian. To answer some of the questions posted above: We have an array of studio’s from $226,720 up to a 3 bedroom Penthouse at $1 Million. We have FIVE furnished models that are absolutely gorgeous! There are approx. 30 settled units, and the building is FHA approved with 30 day settlements. I would be glad to take any of you on a personal tour if you would like. I am onsite in the building 7 days a week. I am excited to see public reaction this weekend. Hope to see you at the Grand Opening this Thursday from 6 to 9 pm.

1. love43 said at 3:43 pm on Monday February 22, 2010:

   Greg,
   Your website doesn’t really have any thing beside the grand opening.
   What are you the amenities?
   Is there any rooftop pool at the Floridian Condo?

1. Greg Schneider said at 3:53 pm on Monday February 22, 2010:

   Love 43, the new website will be live by the end of next week. The new developer has a very creative marketing approach and the final touches are being made to the website. In order to keep the condo fee’s manageable the building is rather amenity light. We do have underground parking, beautiful lobby areas and a roof top terrace with sweeping views of the city, monuments and skyline. I am very excited to get people into the building asap!

1. Screwball said at 4:43 pm on Monday February 22, 2010:

   Greg, do you have an email address where we can contact you?

1. Gregory Schneider said at 6:27 pm on Monday February 22, 2010:

   Sure, feel free to email me at Gschneider@Urbanlandcompany or give me a call directly at 202-480-7927.

   Regards,
   Greg Schneider

1. DG Cromwell said at 1:56 pm on Tuesday February 23, 2010:

   The Floridian is a primo locale if you love U St. I’m not all that into the hideous Florida exterior colors, but its name is fitting for the colors and the fact that it’s located north of Florida Avenue.

   If you desire a more apartment style condo, this is a good place to checkout. The original developers incorporated nice modern design elements like floor to ceiling windows, concrete ceilings, showers rather than tubs for most units, etc. You are likely to be in good hands with Greg Schneider (positive feedback from friends). Maybe the Floridian will finally fill up.

   As an advice to anyone buying at this time, try to include parking in the negotiation. This is still a buyer’s market even when the condo numbers are dwindling in the district. Also don’t worry about the fact that you don’t have a car. Your resale value will be better if you have a parking space, especially due to the fact that street parking is challenging in U St. So don’t be scared to include the parking and storage and condo fees or anything else for that matter in the asking price when you make an offer.

1. roots said at 11:51 pm on Tuesday February 23, 2010:

   I’m all for negotiating (everything is negotiable) but I’m not sure this is a buyer’s market like some believe, especially in popular areas of D.C.

   I think with the competitive prices, dwindling units in the area, the tax credit still available, and potential projects on the horizon (Howard U development and developments at 7th and Florida and where the current Florida Avenue flea market resides), units will move fairly briskly. Guess we’ll find out.

1. peacock said at 10:56 am on Wednesday February 24, 2010:

   Howard U development? That is five years from now. Tax credit? It is only 8K. I would rather get a good price and free parking than 8K. Please, don’t buy at high price just to get 8K tax credit. It is just simply and utterly stupid. If the developer at the Floridian is not offering any incentives like closing costs, free parking and storage, don’t even entertain the idea of making an offer. Walk away. No one knows how the real estate market will be a few months from now. The only thing that is helping the real estate market so far is the tax credit. Stay away from developers and Realtor who make their sales pitch on a tax credit. I am not saying don’t take advantage of the tax credit but at the same don’t be persuaded to buy over priced condo because of the dead line tax credit is approaching. At the end of the day, you will end up losing and the developers, Realtor, bankers will be doubling, and tripling their profit.

1. roots said at 3:12 pm on Wednesday February 24, 2010:

   True, 8k isn’t much when you’re dropping 300-600k but it matters. I’m sure everyone would rather have free parking than 8k, kind of like I’d love to get $20 for my $5 bill. I’m glad you posted because people should think about your points. Bernanke did just say he thinks rates will stay low so that supports your stance.

   Howard U development being five years away? Maybe, but certainly could break ground much sooner than that. Whenever it does break ground (and it’s only going to break ground with the agreement that a grocery store will be a part of the development, possibly retail as well), values will rise. I’m not sure how much but if you’re a two minute walk from the grocery store, I’m guessing that increases the value of your property about 10%.

   Now who knows what will happen to values between now and then but condo inventory in the city is limited so I’m going to guess we see healthy sales.

1. Greg Schneider said at 12:48 pm on Thursday February 25, 2010:

   Tonight is the GRAND OPENING!!! I hope to see everyone there. Even if you are not in the market the models are worth seeing. Beautiful, modern and urban! This is a great place to call home.

1. Richko said at 1:21 pm on Friday February 26, 2010:

   So how was the opening? Did you like what you saw?

1. Greg Schneider said at 6:13 pm on Friday February 26, 2010:

   I would like to personally thank everyone that came out last night. We had close to 250 visitors with 6 contracts written! I am fully booked with appointments on Saturday and Sunday. It is refreshing to sell a unique building in a great neighborhood at a very competitive price. Clearly the demand is there so don’t hesitate to check us out.

1. Peacock said at 7:04 pm on Friday February 26, 2010:

   I went to see it. I will be honest and I really liked it. But, the high condo fee that doesn’t include all utilities and the arrogance of the seller annoyed me. I don’t understand why there is high condo fee for a condo with no rooftop pool, no concierge, no gym and no party room. The seller priced it right. It used to over priced, that’s why they weren’t able to sell it fast and the original developer had to file a bankruptcy. Parking is 35K and the seller is not offering any incentives at all. They only have two preferred lenders and both of them have a mediocre incentives. The Realtor said on his Facebook page that he already have 6 written contracts and he is booked with appointments for the next few weeks. I know there were too many gay couples at the opening and we all know gay couples have cash flows. I mean, I am not a homophobic but my 98K salary can’t compare with two gay couples combines salary of 150K. Just remember, don’t fall on the scare sells person tactics, we are in recession and it is buyers market. Demand free parking.

1. Aric said at 9:46 pm on Friday February 26, 2010:

   I feel bad for Peacock. Clearly he is VERY BITTER over something that The Floridian has done to him! Possibly it is because even with the reduced pricing he STILL cannot afford to live there. The gay comment floored me even further, if you cannot deal with “gay couples” in NW DC then you should consider a nice bible belt state…oh in fact you can probably afford real estate in one of those areas.
   I too attended the opening party and felt it was a great showing. I was one of the 6 contracts written and feel overjoyed that I was able to get a great place in a neighborhood that I typically would be priced out of.

1. roots said at 10:11 pm on Friday February 26, 2010:

   Wow Peacock, not sure what just happened. As for condo fees, I have no idea what they are for the Floridian but waste management, underground parking, and elevators are expensive and need upkeep. Not sure if that plays a part.

   Actually, the previous developer didn’t go into bankruptcy because units weren’t selling. I don’t know the details but a lawsuit (maybe more than one) was brought against the developer and DC law states you can’t complete any transactions (buying or selling) if there is a lien or lawsuit against the development. I think Urbanturf actually had an article about it if you search the archives.

   I think the incentive is the new pricing, the location, and the design of the units. Again, I’m predicting sales are healthy. 6 units gone, 80 to go.

   Greg,

   Is there an open house on Sunday or are viewings only by appointment?

   Aric,

   Congrats!

1. Greg Schneider said at 10:56 am on Saturday February 27, 2010:

   Roots,
   We are open on Saturday and Sunday from 11 to 5. We have a self guided tour but prefer an appt if you have more detailed questions. You can schedule something with me at 202-480-7927 or just stop by during business hours and we would be glad to let you tour the open units.
   Greg

1. Peacock said at 11:11 am on Saturday February 27, 2010:

   Why do you feel bad for me Aric? I never said any thing bad or negative about the gays. I can afford to live at the Floridian but I just like to get a good deal. I have always been pro gay but your ignorant comment about the bible belt offended me. I am trying to be civil right now but I could have responded in a bitter way. May be you and your boyfriend are doing fine but the rest of America is suffering. There are millions of people out of job. The condo fee are extremely high for building with no amenities at all. Obviously you are not smart and you put an offer without negotiation. You felt for a hype Aric and you don’t know how the recession happened or what caused it. Go read the paper and listen to the NPR and lighten up.

1. Zach said at 12:08 pm on Saturday February 27, 2010:

   Peacock, I’m not even going to address your comments regarding gay couples.  However I will point out your ignorance regarding condo dues which have less to do with building amenities and more to do with common area maintenance and reserve funds.  The Floridian is a big building, it has mostly a glass facade and has underground parking.  Maintaining a building like that is most likely not cheap.  I have a friend in the building and I understand that the condo dues also cover gas, trash and water - all services which are not cheap. Furthermore, if you’ve ever lived in a condo building you would understand a good portion of the dues go to the association reserve fund for future major repairs to the building.  In my opinion, you’re way off here.

1. Peacock said at 12:26 pm on Saturday February 27, 2010:

   I know what a condo fee covers **** **** (censored). Are you one of sales people at the Floridian Zach? You seem to be any way.

1. Zach said at 12:30 pm on Saturday February 27, 2010:

   Sh_thole?  No, I’m certainly not a sales agent at the Floridian, nor at any other condo project.  I live in a condo building in the neighborhood and I’m on my condo board so I know way better than you how a condo works.  I also know how to post without making derogatory comments.  I just can’t stand ignorance on any level, whether it’s condo dues or gay bashing.  Grow up Peacock.

1. Mark Wellborn said at 12:43 pm on Saturday February 27, 2010:

   Please refrain from profanity in the comments section and other unsavory language about select groups.

   Thank you.

   Mark

1. Peacock said at 12:56 pm on Saturday February 27, 2010:

   This was the comment that I made in regards to gays “I know there were too many gay couples at the opening and we all know gay couples have cash flows”. How is this comment gay bashing? Please explain. It is a fact that my gay couples don’t have kids and they don’t have expense like most straight couples with kids. There is no need to twist things around and make it negative.

1. DG Cromwell said at 3:05 pm on Saturday February 27, 2010:

   I suspect the new owners of Floridian reduced the unit prices to attractive levels from the previous attempt at sale, but I think they would eventually give into even lower prices. For now the flood gates have reopened, hopefully with an improved lender-to-developer situation. I’m still all for asking as much as you can in your negotiation, but root had some good stuff to consider.

   If you’re worried about income-competitive advantages, I don’t think there is much you can do. Does anyone also fear Asians? Asian gay couples? Asian Jewish gay couples?

   Typecasting. Irrelevant. Good luck to everyone.

1. Richko said at 2:22 pm on Monday March 1, 2010:

   I’m astonished that someone for whom English is obviously not their first language and who makes “98K” would be so envious of gay couples whose combined income is, in his/her (probably his) mind “150K.”  Divide by two and the bird with the rainbow feathers (how ironic) is doing better than the DINK gay couple (who very well MAY have children, but then again, probably could find a much friendlier neighborhood to raise them in).  P.S. to the rainbow-feathered one: plurals—look into them.