Central Austin Realty Bits

 I have written before about the new W Residence condos in Downtown Austin.  Yesterday, The W hosted a select group of 80 Austin Realtors to tour the property and enjoy a reception by the resident pool.  I really like this property!  The finish out is impeccable and the views are spectacular.  10' ceilings, wide plank hardwood floors, Miele appliances, Bulthaup cabinetry, marble counters and baths.  The residents have their own pool separate from the hotel, and receive a 20% discount on food and drinks from the hotel restaurant, bars and the W Away Spa. Concierge services are at each resident's disposal as well.  

Service at W Austin residences is a priority as is making sure upscale living is enjoyed by all who purchase here.  The petite one bedroom is a great pied-a-terre and starts in the upper $300's.  HOA fees are 55 cents per square foot--lower than other luxury buildings but much higher than other new buildings that offer slightly less service and amenities.  

According to the sales director at W, 65% of the residences are under contract and/or sold.  That leaves 50 or 60 units still available in the 37 story building with prices up to a few million dollars. One of the upper level 3 bedrooms just went under contract for over $2 million.

W is a great addition to Downtown Austin living.  I think I prefer the W to the Four Seasons or Austonian because the design is edgier and the building has a more energetic vibe, although I know every person must decide for themselves what environment suits them best.

Contact me any time for an appointment to see the W or any other  Downtown Austin luxury condominium.

SEARCH Downtown Austin Condos For Sale

Jeff Harris, Broker

jeff@trueaustinhomes.com

512-917-8142

Downtown Austin condominium sales recorded in MLS totalled 38 in first quarter of 2011.  Additionally, sales were made in several of the new downtown buildings which are generally not reported in MLS.  The MLS sales in existing buildings sold at a median price of $308,000 in about 121 days on average.  Downtown Austin condos sold for 97% of asking price and the most number of sales occurred under $450,000.  There were 2 sales over 1 million dollars.  

Sales were also recorded at the new  Four Seasons, W, Austonian and Spring Condominiums, but these sales are generally not recorded in MLS.  I am aware of quite a few sales at each project first quarter and in general, these building's prices are mostly over $400,000.  Although Spring has some smaller affordable units under $300,000,  Four Seasons and Austonian prices are well over $500,000 per unit. When adding in these buildings, the number of Downtown sales easily doubles, and the median price would skew much higher.  

The average price per square foot for resale condos Downtown was $325 per square foot, while the new construction projects are commanding $400-$600 per foot regularly. There are 114 active MLS condo listings in downtown Austin, plus at least that many more available in newly completed projects downtown.  

Contact me to buy or sell Downtown Austin condominiums.

Search Downtown Austin condos for sale here.

Jeff Harris, Broker, ABR

jeff@trueaustinhomes.com

512-917-8142 direct anytime

W Austin hotel & condo residences opened the doors of the hotel and public lounge and restaurant in Downtown Austin this week.  I grabbed a few friends and headed to the Living Room lounge on the hotel's ground floor.  What a great job they did with these spaces.  The Living Room is really a series of large, yet intimate feeling interconnected rooms for socializing and mingling.  Bars are available in each area with cocktail service at your table if you wish.  Several of the W Austin lounge spaces have large fireplaces to add to the sexy stylish mood of this Downtown Austin hot spot. 

W Hotels are known for their fashionable, trendsetting spaces and the W Austin is no exception. Interior designers and architects did a great job of making the place stylish but not overly trendy, and not at all pretentious.  Just like Austin.  What I saw was a well dressed crowd who didn't mind letting their hair down to the terrific DJ who spun obscure and familiar tunes from the 60's to present day. The music volume was up but not so much as to prevent conversation.

We found a great spot by the fireplace to enjoy a few cocktails and chat, and later moved into different rooms and to the small tucked away patio off the restaurant to see old friends and meet new ones.  W Austin seems to be an instant hit and when the W Austin Residences are completed above the hotel in February, new residents will surely be pleased with their "living room" bar and adjacent restaurant on the ground floor.

The W Austin condominium residences start in the $400,000 range and go up to over $2 million.  They are modern and clean and offer great views over Austin.  Owners will begin closing on their homes in February 2011.  No doubt, the opening of the W Austin Hotel will spur sales although approximately over 50% of the 159 W Austin residences are already reserved.  The new Austin City Limits music venue is a part of this project as well.

For more info on W Austin Residences or the entire Downtown Austin luxury condo market, contact me or go here and click on downtown luxury:  http://trueaustinhomes.com/austinhomesearch.asp

Jeff Harris, Broker

jeff@trueaustinhomes.com

512-917-9142 direct

Last night's Realtor reception and open house at Spring Condominiums showcased these exceptional condo homes in Downtown Austin.  The blue skies and amazing sunset painted a spectacular backdrop to what is arguably one of the best projects in Downtown.  I was very impressed.  As Austin's first "point tower", designed to mimic the towers of Canada's Vancouver, BC, The Spring rises on a modest footprint high into the Austin sky.  The efficient, clean modern design eliminates long hallways and gives the units lots of natural light and fantastic views from more than one direction.

Floor to ceiling windows bring the expanding Austin skyline up close and personal.  Lady Bird Lake and the city's greenery lay gracefully at your feet and the city's changing elevations of hillsides and escarpments are more pronounced from the higher floors. 

1,2 and 3 bedroom homes are well planned and efficient.  Finishes are top quality and the look and feel is cosmopolitan and sophisticated but not intimidating or formal.  The location is across the street from the flagship Whole Foods Market.  The hike and bike trail is right outside your door.  All of downtown is accessible.  Prices begin in the low $200,000's for a modest yet open and liveable 583 sq. ft. 

Call me to find out more about Spring and the current specials they offer.  It is destined to be a landmark building in Austin.

Watch a video of the views from Spring:

http://www.youtube.com/watch?v=8j9LquqOTg0&feature=player_embedded

www.centralaustinliving.com

The Brown Building was built in the late 1930's for Brown & Root Construction Company in Austin, Tx.  It onced housed the offices of Congressman LBJ as well as a radio station and other LBJ family enterprises. 

In the late 1990's, the Brown Building was converted to 90 residences.  It was downtown Austin's first residential loft project.  Because the developers maintained the historic integrity of the building exterior and lobby, the building was designated a historic landmark.  As a historic landmark, it enjoys significant property tax discounts vs. other Downtown Austin Condos. 

The original terrazzo floors have been maintained throughout the first 8 floors of the Brown Building, the original lobby shines as a testament to the deco influences of the era, and granite slabs used in the original building interiors were reused in the kitchens of the Brown Building units.  The oversized operable windows are still part of the building and flood the spaces with light and breezes.  The ceilings are extra high too. There is a rooftop deck at the Brown Building in Austin with panoramic downtown views.  Because the Brown Building sits at a higher elevation in Downtown Austin, a 7th or 8th floor unit at Brown Building Lofts has views similar to units on higher floors in buildings farther south closer to Lady Bird Lake.

Brown Building also features assigned covered parking and a gym.  Gumbo's restaurant and The Brown Bar are right on the ground floor of this building too.  Brown Building lofts for sale start in the low 200's and rise to the 700's.  The approximate 65% tax break helps make the Brown Building affordable downtown living. 

History Lives at the Brown Building...and so can you.

Currently listed at Brown Building.  Unit 7C.  $229,900

Fans of contemporary art and 360 Condominiums in Downtown Austin Texas will be pleased to know that Details Magazine named the Laura Reynolds Gallery as one of the 10 best art galleries in the country.  The 360 Condo Tower downtown in the 78701 zip code, has ground floor retail and restaurant space that houses popular spots like Mulberry, Blu, Royal Grocery and the Reynolds Gallery among others in Downtown Austin.

Laura Reynolds Gallery in 360 Condominium Tower made the list with other galleries in New York, San Francisco, LA and Chicago.  The magazine says ..."Reynolds forged a niche in the competitive Austin scene by luring a roster of international talents like British artist Ewan Gibbs to Texas....Why not bring art here that otherwise wouldn't be shown?... And what she shows doesn't just make you look--it makes you look twice."

The 360 condo is a Downtown Austin Texas condominium with 430 residences in over 40 stories.  It was completed in 2008. 360 condos listed for sale range in price from $279,000 for a one bedroom to $549,000 for a two bedroom condo with spectacular Downtown Austin views.  It is located at 360 Nueces St. Austin, Texas 78701.

Call me to find out more about 360 condos or any other Downtown Austin condominiums for sale.

This historic Brown Building loft in Downtown Austin Texas is perfect as an efficient space for crashing when in town for UT games,  SXSW, or Austin City Limits festival.  It makes a great starter home for Downtowners as well.  7th floor, city views, high ceilings, enormous windows that open to reveal the fresh air and retro terrazzo floors are a few of the great features.  One reserved covered parking space in the garage, a rooftop deck with panoramic views, basement level gym and ground floor bar and restaurant guarantee an active downtown Austin lifestyle.

History lives here too as Congressman LBJ had offices here at one time. The building was constructed in the late 1930's and once housed offices and a radio station.  The historic lobby has been preserved and many elements of the original building in Downtown Austin have been reused.

Historic tax exemptions guarantee the lowest property taxes in Downtown Austin.  An approximate 65% discount is afforded owner occupants.  The HOA is very affordable and includes cable with HBO.

Listed at $229,900 this Brown Building loft in downtown Austin Texas is the lowest priced unit available in the building but is on a high floor with light and breezes. 

Live life in the exciting urban core.  Walk to hike and bike trails and Lady Bird Lake.  Live in the historic Brown Building.

March 12 kicks off the annual SXSW festival.  3 parts, Interactive, Film and Music bring thousands to Dowtown Austin Texas for 10 days of discussions, performances and screenings.  Downtown Austin hotels are filled and visitors and locals soak up the downtown Austin Texas vibe. 

This time is a great time to see why living in Downtown Austin Texas is convenient, fun and rewarding.  A wide assortment of living options are availble.  Some studio units sell in the low $100,000 range but most spaces start in the upper 100's and range up into the millions.

If cookie cutter isn't your thing, consider the historic Brown Building.  Built in the late 1930's, Congressman LBJ had offices here.  Many historic figures have graced the halls.  Now converted to residences, these units feauture extra high ceilings, wide open operable windows, retro terrazzo floors and updated kitchens and baths.  There is a rooftop deck with panoramic Downtown Austin views and a ground floor gym for residences.   One doesn't have to walk far to mingle with friends and associates as the ground floor Gumbo's restaurant and Brown Bar serve well into the evening. 

Check out my listing at the Brown Building for $229,000.  It is an open plan one bedroom with 7th floor views.  The lowest priced unit in the Brown Building, it is the perfect Downtown Austin starter or pied a terre.   This Brown Building unit number 7C at 710 Colorado, comes with a covered, assigned parking space in the attached garage.  http://www.jeffharrishomes.com/local_detail.php?id=98320