Today I visited the Nokonah high-rise downtown Austin condos located on 9th street where it intersects with Lamar, here in Austin of course.
For the most part I am not a fan and truth be told I would not buy one with my money. Mostly this is because of the location vs. the prices. Make me or one of my clients a good enough deal and I’m in. Sorry if this critique upsets anyone.
For most people (and I am thinking about resale for you here) the idea of living downtown goes hand in hand with the idea of taking the elevator to the ground floor, walking a block or two to a nice dinner spot or a cool place to grab a drink, being able to ditch the car and enjoy a full, fun life. The Nokonah unfortunately doesn’t offer that lifestyle and with the premiums being asked it doesn’t reflect the less attractive (relative to inner downtown) location.
If you really like the Nokona’s location – my advice is for us to find you a nice house in Clarksville and a gym membership.
The 2600 sqft unit for 1.2 mil that I looked at today was spacious, well appointed with nice wooden floors but also dark and sorta cave like. The hallways were long and narrow and the amenities for the condominium are nice but not impressive. The conference room was a decent size as was the shared activity room. The pool was pretty tiny, not very deep and would be impossible to swim laps in. The work out room had some nice flat screen TV’s and what looked like pretty good cardio equipment.
The benefits of that location are that it’s within walking distance of Whole Foods, GSDM Idea City, has easy access to the rest of town.
If more buildings and cool attractions popped up around this building I would reconsider my position but for now – it is what it is.