New Listing at the Syndicate

The Syndicate Condominiums are releasing the remaining developer held units for sale as the downtown market picks up.  We'll be holding this unit, and the other two developer close out penthouses open SATURDAY MARCH 15th from 1-3pm.  

 
 

 

Details on this unit and others at 
http://www.4SaleStLouis.com/downtown-homes/syndicate-condominiums/penthouse-1613/

Syndicate Summer Open House Schedule

Summer brings a new excitement downtown.  We've already had a taste of some top tier Cardinals baseball and great urban festivals like Blues Week over Memorial Day Weekend.  For the folks that live downtown, being a part of these events is a "no brainer" in an unconventional sense.  Its not that by living downtown, a resident has to go, but the logistics are so simple. Living in the heart of the action means that the planning and arranging of life becomes simple.

The best building for this is the Syndicate Condos, located at 915 Olive Street.

Perfectly centered downtown, the Syndicate is just a few blocks or less from everything downtown.   

So this summer if you're planning on being around for a summer event or would like to see the premier residential building downtown after work, pop by on one of these days and let us show you why this building is the best!

  

Arcade Building: Round 3

For Downtown St Louis, few buildings could have as much impact on our city as the Arcade Building at 8th and Olive.   

The project made the news again yesterday with the SLDC being presented with a plan from out of state Dominium Development.

Sharing a block with the Paul Brown Lofts, this high rise has a fantastic arcade running through the building from Olive to Pine.  A well thought out and managed commercial development could really compliment the area and  surrounding downtown buildings such as the Syndicate and the Old Post Office.   
The added residential and retail density would be a welcome addition to the area. 

The project described the first 3 floors as commercial / retail, artist lofts in the middle, and the remainder of the building being high end residential rental homes.

Last weekend, I was in Omaha Nebraska.  Between events we were able to get out and check out their downtown area.  We asked around and heard that Howard Street was the place to be, so we headed that way.  What they were talking about was the part of downtown Omaha known as the Old Market District. Even though it seemed more like Soulard Market than our downtown, it seemed like a very successful implementation of concentrated urban retail and restaurants in a downtown area.

           

Another St Louisan commented about it being great to have that in St Louis.  Knowing that we have so much more to offer in our own downtown, we talked about it.  Our friend, being less familiar with urban St Louis, was an example of what many St Louisans don't know about downtown St Louis. 

Old Market did have some advantages. It was a concentration of destination restaurants & shops, many with protection from the elements,  with stylish lofts and plenty of parking.  They also had a nice advantage in that there wasn't nearly the competition in the surrounding areas like we have in St Louis.  This place was a catch all.  

Our downtown retail districts are spread out, can be isolated, and also compete with Soulard, Lafayette Square, Grand Center, Central West End, South Grand and more urban centers in the burbs. (Kirkwood, Maplewood, etc.).  An "anchor destination" like one created inside the Arcade Building could serve as a great starting point for shoppers looking for a better shopping experience than what we have now.

Loft Sales Busy in late Spring

Despite the negative PR campaign the Post Disgrace has for Downtown, sales have been steady in the past few months.  


Twenty-two lofts sold in May and June, which is AWESOME!  


The St Louis loft expert may point out that last year we sold more.  The same period saw 25 sales in 2011.  The 2011 market was a different market.  


Last year, 9 of the 25 sales were the dreaded FDIC liquidation sales at the Dorsa Lofts.  There was also a bit of a foreclosure glut of lofts at 2020 Washington last year, accounting for 2 sales.  


The 2012 market has its share of distressed sales, but nothing like FDIC sales or a frenzy of foreclosures in the same building competing against each other.  


Nationwide reports are showing an overall price increase in a majority of home markets, signaling a housing recovery.  This recovery takes place on a market by market basis.   Based on the lack of inventory (as of this posting, only 64 lofts are on the market downtown ranging from $44,995 to $1,300,000) and a drastic increase in market rate sales, the downtown market seems to be in the recovery phase too.


Like most markets,  downtown has 'pent up demand' to sell.  Many of these presumptive loft seller's are waiting for prices to reach a higher level.  Like all markets, this may take time.  This is consistent with most markets where the percentage of new construction going into the housing peak was as high as it was in Downtown St Louis.


Here are the Downtown Loft sales for May & June of 2012:

Blu City Spaces  210 N 17th Street

#305     $42,000
#404     $44,995
#1210   $50,000
#406     $55,000
#312     $59,995

Knickerbocker Lofts  507 N 13th Street

#502     $49,100

Columbus Square Condominiums

#33       $65,000

Lofts at 2020 (Sporting News Lofts)  2020 Washington Avenue

#703     $85,000
#706     $137,750

Westgate Lofts  410 N Jefferson Blvd. / 2323 Locust Street

#406     $94,000

Terra Cotta Lofts 1501 Locust Street

#503     $99,000

Ventana Lofts 1635 Washington Avenue

#509     $100,100

Marquette Condominiums 314 N Broadway

#1404   $120,000
#1604   $120,000
#1403   $230,000

Ely Walker Lofts  1520 Washington Avenue

#316     $153,500

Printer's Lofts 1611 Locust Street

#601     $184,000

Banker's Lofts  901 Washington Avenue

#505     $200,000

10th Street Lofts  1010 Saint Charles Street

#803     $240,000

Dorsa Lofts    1015 Washington Avenue

#304     $249,000

Edison Condominiums  400 S 14th Street

#1216   $300,000

Syndicate Condominiums   915 Olive Street

#1612   $448,200

Elder Shirt Lofts  703 North 13th Street

#503     $455,000

2012 Downtown Home Tour This Saturday!

A New Spin on Downtown Home Tour

The 2012 Downtown Home Tour is being held this Saturday, April 28th from Noon to 6pm.    No loft tour we've seen has ever been like the one before, and this year is no different.  The theme, "The Art of Downtown Living" sounds to me like there is a utilitarian element to being able to live downtown.  The truth is that the downtown area is becoming the scene for local artists because of efforts to build and nurture the artist community.  

4th Floor Gallery at the Syndicate

Housing established as "artists lofts", new galleries, and buildings with special considerations for artists like the Syndicate make being an artist easier and lures more artists to consider downtown as the place to be.

Additionally, while creativity is often viewed as a characteristic of artists, it's also a key factor in business, entrepreneurship, and even science.  This neighborhoods proximity to business incubators, executive suites, and the downtown business community can be huge in helping fledgling businesses to start and grow.  Just within the past few years, I can think of a dozen businesses started by downtown residents that have benefited greatly from their location. 

The overall benefit to the community is summed up by the theories in the book by Richard Florida, "The Rise of the Creative Class."   Simply put, creativity adds to the economy.  In this day in age, that's a message we want about Downtown St Louis.  One other factor, is that, as a rule, the type of buyer moving to downtown St Louis often times has tremendous opportunities to show and appreciate art.  Large rooms and open spaces, high ceilings, and the opportunity to add lighting easily makes the downtown home perfect to display art.  As a Realtor, it seems that more and better art is on display in urban homes as a rule compared to the suburban and rural areas.  

So mixing art with downtown living is what this year's tour is all about.  Quite a turnaround from when loft developers pretty much ran the show for two days with their humongous marketing budgets.  Not only was their budgets spent by the thousands, so was attendance.  The events got to be overwhelming with activities galore, free shuttles and every developer trying to wrangle in the buyers.  While it had its pluses, the loft tour really didn't get good reviews for being a neighborhood tour.  It was more of a huge sales pitch.  Now there's only one day & 12 residences, some rental-some condos, and the after party at Art St Louis with its wine tasting.  What would be better would be if the after-party was at the Scottrade Center to watch the Blues stomp the Kings, but that has yet to be determined.  

All and all, it will be another busy weekend for the Premier Team as we have eight open lofts at the Syndicate and another open house at the Dorsa Lofts. Registration for the tour itself will be at the Laurel Apartments.  The area isn't the best place to highlight just yet, but soon will be home to the National Blues Museum, Pi, Snarf's, MX Movies and more coming in the summer and fall of this year.  This weekend we'll probably just see some nice signs;  previews of coming attractions in Downtown St Louis.  

St. Louis University Law School Moving Downtown

Lately I've been hearing about a few new additions to Downtown St Louis, ending with todays announcement of St Louis University Law School's Relocation.

Back in the day when I was considering law school, I remember seeing the school on Lindell and wondering how they fit a law school into such a small building.  Of course, being on the main campus, it could have been spread out in several buildings.  This way, it seems like they'll be able to house the school and library all in one place.

Also a benefit, is that its across the street from the old Federal Court Building, now the City Courts, and also a few blocks from the Thomas Eagleton Courthouse.  The school is scheduled to be in operations for the Fall semester which will bring an increased interest in Downtown Living.  This shot was taken today from the Syndicate Condominiums, just a few blocks away.

Also today, I went by the first public electric car charging station that opened  at 7th and Lucas.  I'll have to say, not really knowing much about electric cars, I was expecting a little more of a 'station' than this.  Its a good start, and having a fleet of electric cars downtown would be nice.  This Enterprise 'We Car' is a start.

Lastly, a marketing company I've been looking at lately, Response Targeted Marketing announced this week its move Downtown from Richmond Heights.  They are excited about the move and the larger quarters.  Downtown is excited to have them.

Post-Season Bonus Burning a Hole in Your Pocket?

Watching the Cardinals muscle through the National League Championship Series was awe inspiring.  Last nights game notwithstanding.  

I was doing some searches for a downtown buyer with one eye while the other was fixed to the tv. 

The thought crossed my mind that all of the Cardinals would receive a post season bonus, and a fairly healthy one, for reaching the Fall Classic.   So out of curiosity, I started to look into the numbers to see how much of a loft one could buy with that bonus.

It's pretty tricky, and the Cardinals organization and player contracts have a great deal of say in how much a player gets.  

My projection was that the organization would get about 21.6 Million to split up between the team if they lose the series  and 32.4 Million if they win.

As affordable as the Downtown St Louis area is, players could really get a phenomenal space with the change they get from the post season play.

There are some exceptional penthouses available in the downtown area that would suit a redbird perfectly.  Close to work, secured entry and top level amenities.   


Even if you're not a Cardinal, but just want to take advantage of everything downtown has to offer, call the Premier Team for a no obligation tour of the fantastic urban homes available at Developer Close-Out Pricing.

OPEN HOUSES TODAY!! 1-3pm

Stop by our open houses today at 1204 Washington (Jack Thompson), and the Syndicate (915 Olive)

Prices Just dropped at Grace Lofts!

At It Again.....DSLRA

Yesterday when I was waiting to show some Syndicate Condos, I was really impressed with the latest publication produced downtown by the Downtown St Louis Residents Association sitting in the lobby.

DSLRA is best if you participate, but between their new hard copy publication and their facebook page they do a fantastic job of PR to help people get an idea about some of the benefits of downtown living.

Different neighborhoods need associations for different reasons. In the 'burbs, maintaining common ground or lobbying a municiple government, but in downtown, there's a special reason: not everyone knows how or why to live downtown. As much as I hate to admit it, living downtown is still a novelty to some. Having a strong residents group gives new residents an oppotunity to plug in to the area and find out whats going on. It puts the veteran urbanist together with someone living here for the first time, and having two good PR sources, shares that message with the person "on the fence" about living downtown.

When we have open houses, we run into lots of folks "thinking" about living in Downtown St Louis. DSLRA is a great place to send them.

One problem with DSLRA that seems to be difficult for many small organizations is the rotating voluntary leadership. Sometimes the group is visible, active and thriving. After a while, leaders step down and new folks step in that aren't as motivated or savvy. Momentum is lost, members drift away.

Its exciting to see things picking back up, especially since downtown population contintues to grow.

WAY TO GO DSLRA!!!

Needing a Downtown Home?

Congratulations to Kit Bond, downtown St Louis' newest worker!

For someone like Kit, looking to work downtown and have quick and easy access to comfortable and stylish living, there are some fantastic deals available within blocks of the office.

Here's a great option below at the Syndicate Condominiums
Unit 1401. This building just took a huge price reduction and units are starting to sell FAST!

What really is captivating about this Syndicate Condo is that it is a double corner with most of the windows facing east, right into the offices at Thompson Coburn, plus northern and southern views and a balcony on the east. There are some other great floor plans too, if he wouldn't want a view of the office.

Inspired City Living! The FINAL 20!

When many of the Downtown Loft Condo projects stalled and a few developers lost all, the Syndicate Condominiums continued on and is down to the final 20 units on the market! Not as edgy and rustic as the bulk of the downtown loft projects, the Syndicate offers a straight line modern interior with some really cool amenities like an artists room, media room, art gallery, inside access to the Culinaria grocery store, and a phenomenal 18th floor rooftop deck with 270 degree views of the downtown skyline.

One of the problems getting into a condo in the past few years has been financing. Lenders are starting to crack down on buildings with too much commercial space and too many rentals, the Syndicate hasn't had a problem. Its actually been the opposite. Most of my Syndicate client get the 'nChamp' financing allowing a reduced interest loan (1.5 off the prevailing interest rates). The building is also FHA approved for prospective buyers that don't have as much of a downpayment.

Location, Style, and amenities all in its favor, the Syndicate Condominiums is worth a look for anyone considering an urban lifestyle.

Click on the pictures for a contact form to set up a tour of the building or any additional information!