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Lofts: The One Bright Spot in the Real Estate Market

By Alison RogersSept. 27, 2011
 
Best St. Louis Loft
LISA GRUS, PREMIER REALTY EXCLUSIVE

Interest in lofts, like this $449,900, 3,000 square-foot space in St. Louis, is increasing.

Oh, a loft … who doesn’t want to live in a large empty space that can be customized to fit your needs? Loft properties can be especially appealing to empty nesters, whose aging knees may dictate a preference for all-on-one-floor layouts over those of classic multi-story houses. Lofts are often located in a city’s urban core, an area that can be revitalized and marketed with the promise of walk-to-retail that is missing from many traditional suburbs. Although the housing slump continues, in many parts of the country, there is a proliferation of loft development … from South Norwalk, Connecticut (nicknamed SoNo) to Cleveland to San Francisco to … St. Louis?

“Up until the last 15 years or so, the only reason that you lived urban in St. Louis is that you were in poverty,” says Chris Grus of Premier Realty Exclusive in St. Louis. He notes, though, that the appeal of city living improved, and that typical suburban homeowners became interested in urban living “right before the housing crash.” Those customers, Grus notes, didn’t sell their suburban homes and buy lofts immediately, “but waited to get 2007 prices [for their existing properties] in the suburbs.” Now, however, he says that “a lot of people are fed up with waiting.”

That the waiting is over seems to be the case in Manhattan, one of the few places where it’s possible to get specific loft statistics (in most submarkets “lofts” are simply lumped in with “condos.”) The volume of Manhattan loft sales increased 60% in 2010 from 2009 as previously recession-fearful buyers poured back into the market. Average price per square foot of those lofts, according to data provider Miller Samuel, was $1,113, up 82% from a decade ago.

However, house or apartment buyers who begin looking at lofts soon learn that these properties are a bit of a category unto themselves. With that in mind, check out these loft-shopping tips.

(GALLERY: Historical Thousand Island Homes)

1) Find the plumbing. “In a classic loft — a building that had a former life as non-residential use, whether that means a school, a power plant, or a factory — it’s important to know where the plumbing is,” notes Sandy Mattingly, an associate broker at Manhattan’s Corcoran Group and the author of the blog Manhattan Loft Guy. That will help you when you’re configuring your layout, because the easiest place to put “wet” rooms — a property’s bathrooms and kitchen — is near the existing plumbing lines. Mattingly notes that wet rooms can be placed away from those lines, but then you need to allow for secondary pipes to slope for drainage purposes. “If you’re in a loft, and you see a kitchen on a raised platform, that’s usually to allow room for pipes,” Mattingly notes.

2) Check the noise levels. There are two types of noise generators: from the outside and from your neighbors. As far as external noise is concerned, old windows are often replaced by the developer as part of a loft conversion, but double check just to make sure. And for internal noise, when a factory building is actually being used as a factory, noise transmission from one floor to another isn’t necessarily a problem. But when it’s a personal residence, it’s a different story altogether. Check to see what the building’s internal noise transmission is likely to be and what you might have to do to remedy it. I’ve worked as an agent in Manhattan’s trendy Tribeca neighborhood, and I’ve seen lofts where the buyer has to agree, as a condition of purchase, to soundproof the entire apartment — a proposition which can get expensive as it involves adding multiple layers of insulation.

3) Look for the light. In a real estate ad, “double exposure” — meaning windows on two sides — might seem to guarantee good light, but you’ll need to go check the space out in real life. For one, in a crowded city, you’ll need to make sure you clear other buildings. “You could have one building where on the fourth floor and above, you can clear southern exposure. In that same building, you might have to be on the eighth floor and above to clear a west view,” notes Mattingly. You’ll also want to do due diligence to make sure that no developers are planning to put up a building in your line of sight.

4) Don’t forget the condo board. Grus, who sells converted factories and former industrial buildings, notes that “most of the buildings in St. Louis are condominiums.” Given that, he says, “how harmonious the condo association is, how well-funded, and how prudent they are — these factors are as important as, or even more important than, whether you like the space.”

Recent Lofts Sold by Chris & Lisa Grus

1136 Washington  Avenue Unit #503, St Louis image
1136 Washington Avenue Unit #503, St Louis — Meridian $239,900

Stunning CORNER UNIT at Meridian Lofts boasts a fantastic view of Washington Ave historic architecture & AMAZING SUNSETS! In the snap of the action at Washington & Tucker...

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507 N 13th Unit #407, St Louis image
507 N 13th Unit #407, St Louis — Knickerbocker Lofts $99,000

Hello, Sweet Modern Downtown Living at a Fab Price. This is the perfect landing pad for enjoying all that downtown has to offer-Restaurants, Cardinal games, Blues Hockey,...

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2201 Locust  Street Unit #201, St Louis image
2201 Locust Street Unit #201, St Louis — Packard Lofts $150,000

Great Industrial Urban Style in this Packard Loft! As you enter, you'll LOVE the exposed brick walls, hardwood floors, updated lighting and spacious living room, with its...

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701 N 15th  Street Unit #510W, St Louis image
701 N 15th Street Unit #510W, St Louis — City Museum Lofts $176,500

City Museum Loft! Work of Art space at a GREAT Price! Artistry and Excitement with this City Museum Lofts Only Phase 1 was completed by the late Bob Cassilly, renowned...

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1501 Locust Unit #905, St Louis image
1501 Locust Unit #905, St Louis — Terra Cotta Lofts $188,900

Welcome to Terra Cotta Lofts unit 905! Step in & immediately LOVE the amazing views of the Gateway Arch and downtown skyline, plus loads of natural light pouring in fro...

  • 2 Beds
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1520 Washington Unit #422, St Louis image
1520 Washington Unit #422, St Louis — Ely Walker $126,000

Hello Beauty! Fabulous 2 Bed/ 2 Bath Eastern Facing Gem can be yours! This loft boasts modern meets historic in beautiful Ely Walker. Soaring ceilings and rich exposed br...

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1520 Washington  Avenue Unit #310, St Louis image
1520 Washington Avenue Unit #310, St Louis — Ely Walker $115,750

Come enjoy downtown living in Style in this sharp 2 Bed Ely Walker Gem that has Arch views! Gleaming historic hardwoods flow throughout. A kitchen built for cooking with ...

  • 2 Beds
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1204 Washington  Avenue Unit #5D, St Louis image
1204 Washington Avenue Unit #5D, St Louis — Jack Thompson $132,000

Stylish & Contemporary downtown loft in the Snap of the Action! Looking for an opportunity for AIR BNB or short term rental-this is your winner! Sleek hardwoods sprawl th...

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2323 Locust  Avenue Unit #PH600, St Louis image
2323 Locust Avenue Unit #PH600, St Louis — Westgate Condo Apt 03 $401,500

AMAZING Penthouse showcasing the Entire Eastern City Scape including the ARCH! Floor to ceiling windows stretch across as you enter! Your guest will be "WOWED" by the int...

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1015 Washington  Avenue Unit #208, St Louis image
1015 Washington Avenue Unit #208, St Louis — Dorsa Lofts $172,900

Amazing swanky space with 16Ft Soaring timber ceiling & Private balcony! When you enter you can't help but say "WOW!" Fabulous Boutique building in the Snap of Downtown A...

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314 N Broadway Unit #503, St Louis image
314 N Broadway Unit #503, St Louis — The Marquette $102,000

Amazing Marquette Jewel! Loads of fine finishes throughout. Sleek custom floors including in the bedrooms give this unit a "WoW" Sharp kitchen with stunning pendant light...

  • 2 Beds
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915 Olive  Street Unit #1013, St Louis image
915 Olive Street Unit #1013, St Louis — Syndicate Bldg Condo $230,000

Fabulous Spacious Syndicate unit w/Private Balcony! Windows line both sides of the unit so it is Bright & Beautiful! Two living areas & grand open floor plan is perfect f...

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915 Olive  Street Unit #1013, St Louis image
915 Olive Street Unit #1013, St Louis — Syndicate Bldg Condo $230,200

You will love this spacious Syndicate unit w/Private Balcony! Windows line both sides of the unit so it is Bright & Beautiful! Two living areas & grand open floor plan sh...

  • 2 Beds
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1015 Washington  Avenue Unit #305, St Louis image
1015 Washington Avenue Unit #305, St Louis — Dorsa Lofts $260,700

Amazing loft that feels like a home! Soaring space-rich exposed timber ceilings & brick throughout! Fabulous Private Balcony perfect for Grilling & Chilling. Loads of int...

  • 2 Beds
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915 Olive  Street Unit #1007, St Louis image
915 Olive Street Unit #1007, St Louis — Syndicate Bldg Condos $241,500

REDUCED & MOTIVATED-Sophisticated Syndicate condo stylish finishes, stunning views, spacious open floor plan, & 3+ Car Garaged Parking! Elegant kitchen w/sharp counters, ...

  • 2 Beds
  • 2 Baths
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Selling?   Check your Lofts Value

Types of St Louis Lofts and Condos

Downtown St Louis has a variety of home types, but mostly modern lofts and luxury condominiums and apartments with a very small number of single family homes.  Compared to most areas, Downtown Lofts & Condos are usually newer, more modern, and more affordable than other areas such as Clayton or the Central West End.

 

 

SOFT LOFTS

Loft types range from the "Soft Loft" which is mostly finished interiors with just elements of lofts like exposed duct work or pipes.  Buildings Downtown that are generally considered "soft lofts" are the Terra Cotta Lofts, The Annex Lofts, the Louderman Lofts and the Syndicate Condominiums.

 

INDUSTRIAL LOFTS

The Industrial Loft is the other extreme from the soft loft.  Usually built in a former factory or industrial type building, the industrial has an edgy modern style with higher ceilings and more exposed elements of the building such as exposed brick, exposed piping and ductwork, exposed ceilings (timber or concrete usually), and usually concrete or distressed hardwood floors. Good examples of the industrial loft are the Banker's Lofts, Elder Shirt Lofts, 10th Street Lofts, Moon Brothers Carriage Lofts, the Lofts at 2020, and the Printer's Lofts.

Variations exist and some industrial lofts are more 'finished' than others based on the condition and style of the existing building or the developer's vision.  

 

LUXURY CONDOS

Some Condos don't qualify to be called 'lofts' at all.  There's no exposed ductwork, no exposed brick or electrical conduit.  Ceilings are finished with drywall and trim, just like a traditional home.  In Downtown St Louis, are usually high rises and mostly fall into the catagory of the LUXURY CONDO classification.  The Marquette Condominiums and Edison Condominiums are a great example.  There aren't any exposed features such as ducts, and the units are finished completely in an elegant, modern style.

More affordable condos downtown that aren't lofts are the Blu City Spaces and Columbus Square Condos.

The Downtown St Louis loft districts has some of the best preserved historic buildings available anywhere!  

 

View the Page on the Left to:

·   Search St Louis Lofts By Building

·   Search Lofts By Price Range

·   Search Lofts by # of Bedrooms

The Premier Team,  Chris & Lisa Grus,

have been active in the downtown St Louis real estate market, selling more lofts downtown than any other Realtors. 

 

Many changes have taken place in the loft district since 2004, when the Premier Team took its first listing downtown.  At that time, very few Realtors that had worked in the loft district, many buyers purchased lofts were unassisted by professionals and cooperation from developers was limited. 

 

 

Other than working with HUNDREDS of ST LOUIS LOFT BUYERS and helping in OVER $60 Million in LOFT SALES, we've participated in several organizations, committees, studies and interviews for the betterment of the Downtown St Louis area.  Downtown NEXT, Urban Affairs Committee of the St Louis Association of Realtors, and the St Louis Convention and Visitors Bureau continue to place the Premier Team in the middle of the Downtown St Louis real estate market and events throughout the St Louis loft district.

We invite everyone to experience the excitement of downtown living and are happy to assist home buyers in checking out the area with the Premier Team!

 

Loft Living in Downtown St Louis or Luxury Condo Living puts the urban dweller steps from everything!  Downtown Living may not be for everyone, but for those looking for an exciting yet relaxed lifestyle, no yards to mow or gutters to clean, beautiful views, lots of friends and plenty of things to do, Downtown is the right fit!  Walk to the Cardinals game, spend a few hours in CityGarden, cheer on the Blues or catch a play at thePeabody:  there's too many attractions to mention!  Galleries, museums, cafe's and great new public spaces are taking over what used to be a deserted neighborhood.

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11628 Gravois Rd.
Saint Louis, MO.  63126

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