108-Unit Downtown Condominium Project Sold Out in Charleston
By Eliza Theiss, Associate Editor
Charleston’s growing economy and appetite for housing has been reaffirmed with the announcement that Bee Street Lofts, a 108-unit downtown condominium development has officially sold out. Furthermore, resale units are proving highly desirable, spending little time on the market.
Developed by Houston-based Bomasada Group Inc. (BGI) in the height of the recession, the project was able to weather the economic downturn. Josephine Traina, a broker associate with Carolina One was Director of Sales and Brokerage for Bee Street Lofts.
Location was and continues to be a major driving force behind the sales at Bee Street lofts. Its 150 Bee Street address puts the development in Charleston’s Medical District, across the street from the Medical University of South Carolina and Roper St. Francis, which accounts for its residential mix—more than 50 percent of Bee Street residents are medical professionals.
Bee Street lofts is also minutes away from Charleston’s historic downtown as well as the Ashley River and is located on the DASH Gateway Loop shuttle route. Community amenities include a state-of-the-art fitness facility, two green-scaped courtyards, a two-story secure, private parking garage, Art Deco club lounge complete with wine storage and meeting facility that doubles as business center and TV lounge. The community has a Walk Score of 63, and is built to withstand a Category 5 hurricane.
The development is comprised of one-, two- and three-bedroom units that range between 806 and 2,053 square feet, in 11 basic floor plan variations with 41 unique variations. Selling prices range between $275 and $650 per square foot and the added monthly regime fee of $0.30 to $0.35 per square foot applies for insurance, maintenance and access to amenities.
Each condo unit comes with one parking spot included in the sale price, with additional parking spots retailing at $35,000 apiece. Unit amenities include a gourmet kitchen, stainless steel appliances, granite countertops, wine chillers, high-end refrigerators, built-in dishwasher and microwave, whirlpool tub, high speed internet access, electronic alarm systems, high-end finishes. Selected units also feature a kitchen pantry, wall-mounted oven, dual sink vanity, built-in bookshelves, art niche and private patio or balcony.
Image courtesy of Bee Street Lofts via FacebookTags: Acquisitions/Dispositions, Architecture/Design, Bee Street Lofts, Bomasada Group Inc., Brokers, Carolina One, Charleston condominium, Charleston Medical District, Charleston multifamily market, Charleston-Columbia Lead Story, Condo, Co-op, HOA, Consumer, Developers, Development, downtown condominium project, economy, Finance/Investment, Financiers, hurricane-proof, Investors, Josephine Traina, Local, Medical University of South Carolina, National, onsite parking facility, Owners, Regional, South Carolina multifamily