389 Washington, A Building, is one of my favorite luxury high rise building in the Power Station Art District. If you want to live in the district and you are not so enamored by “loft living” than the A Building is very hard to beat.
The official name for the A Building at 389 Washington is the Athena condominiums . The building, like so many others in the district, owes it existence to the WALDO ( work and live overlay district) Act. The act allowed for the implementation of the previously prohibited zoning of residential and industrial usage in the same area. WALDO was adopted into the Jersey city zoning code in 2002 and was deleted in 2007. While short lived the WALDO act kick started the revitalization of the formerly ignored and largely desolate Art District.
.Soaring 34 stories high the building has an elegant design. Clients remark how the sleek glass clad E and F line provides a balance to the more traditional brick and terraces of the rest of the building. The first 6 floors are occupied mostly by the parking garage, the lobby and the necessary administrative and maintenance rooms . The residences start on the the 7th floor that’s also where you’ll find the gym, outdoor deck and club room.
The 389 Washington, A building street floor plans from the 8th floor on up stay the same all the way to the 34th floor which is designated the Penthouse floor. The homes on the north end of the building are the F -line. There is the K-line to the South-East side and the E-line on the North-West side of the building. Both lines have floor to ceiling windows and a smaller terrace on the north side of the building. Both lines are two bedroom homes. Residents enjoy floor to ceiling windows on the F line taking advantage of the building’s stunning Manhattan skyline and river views.
The average selling price in the A building was $782,055 which represents an increase of almost 4.8% over the 2015. The average time on market was just 39 days but there were caveats. Properly priced apartments sold fairly quickly while others lingered. For a detailed look at the 2016 saled data at 389 Washington please CLICK HERE
Call or Text me at 917.545.3438 to see all the available properties at 389 Washington, The Athena Condominiums
Available rentals at 389 Washington St. A Building
389 Washington, A building Price Progression
The 2013 numbers for this building are striking! While most homes on the Downtown waterfront increased in price last year in contrast it is remarkable is how fast and how high the price of one bedroom homes in the building increased over 2012.
The average price per square foot for one bedroom homes at the A Building in 2012 was $578. In 2013 that jumped 22% to an average of $707 per square foot.
The high demand for one bedroom homes in the building is also reflected in the drop in the time condos spent on the market. The “days on the market” number for sold one bedrooms at 389 Washington in 2013 was just 24 days. This represents a 63% drop from 2012 when the average time on market was just about 63 days
In contrast the price for 2 bedroom homes in the building increased by just 13% from $530 to $600 per square foot.
In conclusion two bedroom homes in the building are some of the most sought after in Downtown Jersey City with the average time on market four sold two bedrooms in the building being just 12 days an amazing 84% drop from the 2012 time on market of 78 days!