Like the balance in the residential real estate market, the condominium segment remains difficult for buyers to navigate, with so few options available. Condominiums are always in high demand, especially along the coast, which appeals to both full-time residents and second home buyers.
Market Realty LLC broker-owner Judi Caracausa said the condominium market in southeast Connecticut — especially in riverside communities like Mystic where her business is based — is “very hot, and especially for life on one level”.
“So many people want the ability to get into an elevator, push a button, and get to their house that’s on one floor. It’s the condos that are in huge demand,” he said. she stated.
Caracausa currently represents the sellers of two condos in downtown Mystic, each with their own compelling list of attributes.
Unit 302 at 3 Water Street in Mystic is for sale. This is a two bedroom condo in a building known as “The Standard”. This particular downtown unit is “in new condition, ready to move in,” according to the listing broker. It features a number of updates, including new custom closets, quartz countertops in the kitchen, and new shutters.
“At Standard there are places to store bicycles, and the owner has a covered parking space in the private garage,” Caracausa said. Additionally, this property has a shared rooftop terrace with some of the best views in Mystic around.
In less than a week, this property went “under contract”, but relief offers can still be accepted. The asking price is $899,900.
This week, the listing broker also launched the 11 unit at 15 Water Street on the market. The seller is asking for $949,000. This third floor corner unit is in The Power House building in downtown Mystic, a secure building with an elevator. The two-bedroom home features views of the Mystic River, a 14-foot private balcony, and 1,306 square feet of living space. Interiors are “light, bright and open,” Caracausa said.
“It has exquisite craftsmanship by an experienced local builder,” she said, citing the kitchen as an example. It is designed with Adura branded flooring, granite surfaces and custom cabinetry.
She also pointed to the fixtures installed by the vendors, calling them “exquisite.”
Residents of this building share a common area are along the waterfront. The owner of this unit has one parking space in the parking garage, with additional spaces available in a private parking lot. And, of course, they enjoy walking access to all that downtown Mystic has to offer: an array of restaurants and culinary shops, a favorite local bookstore, boutiques, art galleries and a busy calendar of community events. For potential buyers who enjoy sailing/boating, there are several marinas in the area, including one adjacent to this property.
Northeast Property Group estate agent Kristin Pettazzoni is representing the seller of Unit 502 at 461 Bank Street, a pet-friendly condominium in the Harbor Towers association, right in the central business district of New London.
“This condominium offers both city living and water views,” noted the listing agent. “This unit offers an open floor plan, with a spacious kitchen – featuring a granite breakfast bar, shaker cabinets, stainless steel appliances – tray ceilings and a gas fireplace, and a deck with sea views. the Thames River and Long Island Sound.”
This home has two bedrooms, both with custom closets. The full bathroom is equipped with a triple vanity and a whirlpool tub.
The HOA fee, which Pettazzoni says is $296/month, covers maintenance of common areas and storage areas, gated parking, building elevators, landscaping and snow removal. Residents also enjoy an association-maintained swimming pool, rooftop terrace, theater, and fitness center, among other amenities.
The condo’s location is particularly appealing to buyers who want to enjoy a walkable community and downtown lifestyle. The Library, Town Hall, restaurants and pubs, Fiddleheads Food Co-op and The Watch Theater are all within walking distance. “[It’s] a healthy walk to the station, with access to New York, Boston, Providence and New Haven,” Pettazzoni said. “The Cross Sound Ferry operates daily, providing transportation to Long Island and its fine wineries. The Block Island Ferry runs all summer, making several trips a day to Block Island. The property is within biking distance of the E-Boat, Conn College, or Lawrence & Memorial Yale New Haven Hospital.”