Lofts lofts lofts

[OpenRoad]

All right, I've been talking about it for a year.  Anyone have any thoughts on the following properties?

1) 700 Broadway
2) Western Auto II
3) Freighthouse
4) Library Lofts

I have/will be looking at all four in the next few days and will be picking one.  I've had my fill of OP.  Thoughts, complaints, praises, anything/everything is appreciated.  Thanks a million.

If you have thoughts about their respective neighborhoods please include those too.  Thanks in advance.  -P

[DaveKCMO]

isn't library lofts a for-rent property?

i love living in the crossroads and being close to union station. living in the loop would be quite a different experience; i almost did and sometimes regret not having done so. seems there are more random, edgy cultural events in the crossroads (fashion show, sk8ers, mini-bike gangs, fringe fest). fewer street people in the crossroads.

all great properties, though. i also like being one block from a MAX stop, and those are all pretty close except 700 bway (and it's not THAT far).

[staubio]

Is the River Market purposely omitted from your consideration set?

[kc-vino]

If you are looking for condos I think the price range for the freighthouse and the Western Auto are going to be much higher than 700 broadway and the library lofts but I could be wrong.

[bahua]

I have a friend moving into the 700 Broadway hoopla. He's really excited about it, because the price is still good, and the location is one of the best in downtown.

[Long]

RE: 700 Broadway

Make them describe to you and show you exactly what steps they have taken to improve sound isolation from unit to unit, both from neighbors to the side and neighbors above and below.  I lived there a few years ago when it was rental and this was a serious issue. 

Note that most of the problem was NOT from lack of insulation in the walls (although this would help), but from where the gypsum board party walls and the floors joined the brick walls.  When I first moved in there was actually about a 1/4 inch gap between the gyp board wall and the brick where I could see into my neighbors apartment.

This isn't a problem specific to 700 Broadway, through friends' experiences and my own experiences it is most likely to occur with exposed wood beam and brick buildings, less so with concrete buildings and buildings that have a gyp board ceiling (not exposed structure ceiling).  And we aren't just talking about the usual noise you hear in apartments, it's well beyond that.

That said, 700 Broadway is a pretty solid building.  Aside from the noise issues the construction and quality of materials seemed fairly good (as far as buildings converted from reasonably-priced rentals goes).  It's a very cool building, the main entry is really cool.  Great views from units on the west, and a very "urban" feel to the units on the east facing Broadway.

[OpenRoad]

Thanks all you guys.  I like 700 Broadway.  All the owners had done them up different, so there were some that looked better than others.  Freighthouse was nice, but the ones they had available were too big.  My impression of Library wasn't all that grand when you compared it with 700 BW, freight, and WA. 

I've seen the Rivermarket lofts before, so I didn't exclude them, but thought I would look elsewhere.

Thanks again guys.  I'll holler with what I decide on.

[smitherton]

What about the Coffee Lofts?  Same ownership as 700 Broadway ( I believe) smells good too!

[bahua]

That is, by far, my favorite condo building in downtown KC.

[skim82]

It's a great location, but I think the lofts could offer more amenities such as a pool, resident terrarce/rooftop garden, and better finishes inside the units.  I've heard rumors that some are being turned into rentals as well, which would be bad for investors/buyers.

Plus, I think Folger's only roasts 2x a week.... and I'm sure you would get the same aroma from the roasterie in the RM and North Loop as well. 

[Long]

That is, by far, my favorite condo building in downtown KC.

I liked the Coffee Lofts building when it was all white and had more of an industrial look to it.  Way too bland now.

[smitherton]

skim82 who told you about the rumor to rent units?  please pm me the infor you got. 

[Long]

Some people are buying condos and attempting to rent them out as an investment opportunity.

Although when I was touring 700 Broadway I think the agent said something about certain units being available for rent, I'm assuming directly from the developer. 

It's possible I misheard.  But I'd definitely look into it before buying anywhere.  I personally feel the homeowners associations in the various properties should prohibit renting out units.

[staubio]

It has been a problem in all but the most upscale developments.  This is the quick and easy way for investors to get in on the market and start renting with little hassle.  I don't see it as a real risk for property values, however.  It isn't as if the community is going to stop investing in the building because the renters move in.  The amenities and location are still intact regardless and that is what gives value to your condo property.  Would any buyer even care if the building had renters?  It isn't as if the rents are cheap -- they reflect the price of the units.

[skim82]

There is a big difference between qualified buyers investing in property, and leasing it to individuals, and property/building owners allowing properties to be rented and sold.

The HOA could step in, however when the developer rents units along with selling them, it usually means they cannot sell units, therefore possibly reducing the value of purchased lofts.  Just my thoughts...

[jeffvb9]

Thanks all you guys.  I like 700 Broadway.  All the owners had done them up different, so there were some that looked better than others.  Freighthouse was nice, but the ones they had available were too big.  My impression of Library wasn't all that grand when you compared it with 700 BW, freight, and WA. 

I've seen the Rivermarket lofts before, so I didn't exclude them, but thought I would look elsewhere.

Thanks again guys.  I'll holler with what I decide on.

Hey OpenRoad...

Just wanted to find out where you decided to buy a loft at and what your impressions were?

I am trying to decide between Coffee Lofts and the Manhattan Condos.  Your email address bounced when I sent one to you.

[bahua]

I would recommend Coffee Lofts *way* over any of the eastside units. I suppose it's short-sighted, but there's stuff to do on the West side of downtown *now*.

[jeffvb9]

I would recommend Coffee Lofts *way* over any of the eastside units. I suppose it's short-sighted, but there's stuff to do on the West side of downtown *now*.

Thats kind of what I was thinking too.  Just not sure with all the East Villiage development stuff that will be going on.  Trying to look at it from an investment standpoint as well.  The only downfall to the Coffee Lofts is lack of amenities compared to others but I do like the building...