After two other Arlington Condos, including Zoso went "non-condo" there was speculation whether or not Phoenix would continue their condo project. While they had 100+ units under contract, the risks were high. Subsequently they decided to go for it. And as expected, many people backed out of their contract (ask for details).
I live in Clarendon 1021, just around the corner. I have a strong bias toward that building, but I'll do my best in comparing the two.
Background: The Phoenix initially priced their units at the TOP of the market, comparable to 1021. The first 10 sellers of Clarendon 1021 made a $80,000 profit (now they lose $25k). That is when Phoenix priced their "Pre-construction" prices. A 2 bedroom in 1021 went as high as $670,000, now you can get a similar one for $570,000. A $100,000 price drop. Now do you see why people forfeited (and some fought, ask for details) their $35,000 deposits at Phoenix?
So now the question is if you like Clarendon (side note, all my friends that bought in Courthouse or Ballston, they all meet up... in Clarendon), is the Phoenix a "deal?" Yes it is less expensive after subsequent price drops versus 1021, but I go at length in my post about the risks with new construction.
Blatant side note: I know many of you think Realtors are worthless. You have two legs right? You can just walk on into a new construction. You don't need no stinking agent! Well maybe, just maybe, we know a thing or two that might help you. Don't like my style, find somebody else. Whatever you do, have somebody on YOUR side. Oh, and did I mention, there is no additional cost to you.
Anyhow, here are a few photos of ThePhoenixCondo :
Here are another 28 photos of The Phoenix Condos in Arlington
I have more photos of units, but those can't be published online without seller permission. But I can email them to you upon request.
- Less expensive. For the most part this is true. But if there is a bank owned 1021 unit, you might get a similar price.
- Built to be a condo. Meanwhile 1021 was built to be an apartment complex, and was later converted. Builders cut more corners for apartments complexes.
- Nicer appliances
- Rooftop pool, slightly deeper pool and larger areas for events, but no DC view.
- Large party room (the one at 1021 was sold off! as a unit)
- Fire Department! Is located just behind the building. So depending on where your unit is located, the noise will be a factor for many buyers.
- Large remaining inventory to sell. What if they auction off units like Parkside Alexandria.
- No Hot-Tub. Clarendon 1021 has a great rooftop, now with an outdoor HotTub that is even on during the winter. With a monument view.
- No Monument Views. An apartment complex blocks any Washington Monument view.
- Cathedral View? Currently yes, some units have a Cathedral view. However, last week a 12 story building was announced. Just over Clarendon Grill. I have asked the sales team to look into whether this would block any unit's views. They are looking into it, they didn't know about the upcoming building (see above why it helps to have somebody on your side asking the right questions, all for no extra cost to you)
I'd like to open this forum up for people to list other pros and cons (when comparing Clarendon condos) that I might have missed.
Written by Frank Borges LL0SA- Broker FranklyRealty.com