The Carvajal Group Blog

Downtown Austin Condo Breakdown

March 18th, 2011

Below is a brief description of each condo building in downtown Austin as well as entry level pricing. The names are hyperlinks to units in each building currently listed on the MLS.  This is a brief overview but please contact us for more detailed information on Downtown Austin condos or Austin Real Estate in general.

Luxury High Rises: recent construction(2008-2009) towers of at least 40 stories

 

  • 360 43 floors of mostly 1 bedroom units starting in the mid $200s most of the units under $300k are on lower floors. When the developer was selling them initially they started at about $260,000.  Great mix of people and awesome community amenities
  • Spring:  a lower entry level price point than the 360.  The “A” floorplan starts at $225k, but they are pretty small at 565 sq.f t. and the larger “B” with balconies, more comparable to units at the 360 start around $280k on the lower floors.  They included many thoughtful features not included in the 360 such as fresh air intake.  Boiled hot water system and glass cooking.  Their ceilings  are relatively low for modern construction at 8’8” but when you have floor to ceiling windows, you don’t tend to notice. The penthouse is currently available as a shell for $5 million which encompasses the entire 42nd floor.
  • 555 sharing a building with the Hilton hotel, these were the first new luxury condos on the market in 2004.  There have been some deals in the building lately.  A foreclosed units recently went under contract in the high $200s for almost 1000 sq. ft.

 

 

Mega Luxury High Rises: the creme de la creme of condos in  Austin.  Starting at over $500 per sq. ft. Mac Brown bought in the Austonian.  The W and Four Seasons also bring new a level of luxury living to Downtown Austin.  These buildings have very few units listed in MLS but please contact the Carvajal Group at (512)419-7770 for current pricing  and availability

  • Austonian:  many of the higher floors were left as shell and allow for a custom finish out. One bedroom “A” units at 1225 sq. ft. start about $560k on the 17th floor, slightly larger “B” units start at $582k on the 17th floor. The smallest 2 bedroom “C” units are 1464 sq. ft. and start at $661k on the 17th floor going up to $811k on the 03th floor.  Something to be aware of…the adjacent Ashton apartment building hovers over some of the lower SE facing units which are the lowest priced.  One of the four Penthouses will cost you a cool $7 to 8 million, for a shell.  Touted as the tallest residential building West of the Mississippi River
  • Four Seasons: 1 bedroom units starting just under  $500k on the lower floors.  Very little flexibility on price but they negotiate on perks which normally cost extra: HOA dues paid in advance, extra parking, storage, etc. features the “highest pool in Texas” on top floor of the building
  • W Residences: most of the one bedrooms remaining are around 1000 sq. ft. and sell in the $600s, believe it or not people are buying these as investments.  Some of them plan to move here eventually and don’t see prices ever coming down.  The development features the Moody theater where the Austin City Limits TV show is now filmed along with bars and restaurants

Rainey Street/Waterfront District: historic district recently rezoned CBD to allow vertical development and alcohol sales.   Street lined with high rises, historic single family bungalows, and a booming nightlife featuring unique bars and restaurants in the skeletons of converted homes

  • Milago:  Built in 2005, they are a little older than the 360, but feature a similar finish out.  East facing 1 bedroom units have
  • Shore currently the newest condo building in the Rainey St. district. 1 bedroom floor plans vary is size, price and view. 535 sq. ft. units facing East start at $175k
  • Towers at Townlake: built in 1982.  One of the best bangs for your buck.  Units feature downtown, lake and park views.  2 bedroom, 2 bath units start in the mid $200s for 1360 sq. ft.

Lofts: open floor plans, often limited or no separation between bedrooms and living areas.  Generally feature exposed duct work, plumbing and electrical.

 

  • Austin City Lofts: completed in 2004 as new construction.  14 floors and only 82 units.  Adjacent to Whole Foods on West 5th Street.  While loft style in finish out, these units tend to have have more traditional floor plans with actual bedrooms.  1 bedrooms are large at over 1000 feet and have recently traded in the mid to high $300s
  • Avenue Lofts mid-rise building on E. 5th street near the Hilton, loft style and quite a bit of square footage for the money. I’m not as crazy about this part of downtown and they are directly across from a fire station so you get some serious noise, especially in the South facing units.  Option starting in the mid $200s
  • Plaza Lofts located at the corner of 5th and Guadalupe right across from Republic Square.   There are no units facing East which is interesting many people prefer the views to the East in other buildings. 1000+ sq. ft. 1 bedrooms units start in the low to mid $300s
  • Brazos Lofts true urban lofts in heart of downtown at 5th and Brazos. Currently Starting at $325k.  Some live/work options here.  Warehouse feel.
  • Brown Building built in 1930s and once home to Congressman LBJ, this historic building was converted to loft style condominiums in the late 1990s. concrete floors, wide open floor plans, etc. No units have balconies, but it is a neat building and offers discounted property taxes because of a Historical Tax Exemption.  1 bedrooms start in the mid $200s
  • 904 West very modern 2 story condo building. These were crappy apartments(I lived here) and then they were all but torn down and turned into a pretty unique project. The largest solar array on a multifamily project in Austin and a plethora of other green features guarantees utility bills under $50/mo for 2 years.  Smaller 1 bedroom units start under $200k

Recent conversions:  in the mid 2000s, condo conversions were hot.  Brazos Place and the Sabine of 5th with converted from office buildings to condominiums.

  • Brazos Place: remaining units were sold at auction in April 2009, but prices have gone up over the last 2 years.  Neat building formally the Commodore Perry Hotel…no pool or attached parking, but free valet parking.  1 bedrooms currently available in the high $200s
  • Sabine on 5th: converted from a mostly empty office building, large one bedrooms start in the low $300s, but there are smaller options available under $200k, short on amenities but but memberships can be bought at the adjacent Hilton to use the gym, pool, etc.

More affordable/Older Options: built decades ago,  the older condominium building in Austin offer some of the best bang for your buck.

  • Rail Yard older garden style condos near the convention center. Not nearly the amenities or views of the high rises but good bang for the buck.  You can get into a 1 bedroom for about $150k
  • Posada Del Rey: Originally a hotel built in the 1960s, they were converted to condominiums in the 80s.  Certainly the most affordable option on the West side of downtown.
  • Westgate:  25 story condo tower adjacent to the capital grounds
  • Penthouse: 12 floors also adjacent to the capital, built in 1964.  Another affordable option to live downtown located at 12th and Guadalupe

South of the River: a few option still walking distance to downtown, but offering a more relaxed different style of living

 

  • Bridges on the Park just South of Lady Bird Lake, right across from the Butler Pitch and Putt par 3 golf course.  Nice mid-rise alternative to high rise living and still  a short walk to the Heart of Downtown Austin via the Pfluger Pedestrian Bridge
  • Barton Place same developers as the Spring but a much different concept.  Mid rise building on the edge of Zilker park and int he middle surrounded by giant Pecan trees and steps from some of Austins favorite restaurants.  1 bedroom floor plans start in the mid to high $200s

For more information on downtown Austin condos or Austin real estate, contact Jonas today at (512) 496-0215.

Update: here is a link to current sales statistics as of May 17th 2011 from the developers.

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