What is Going on at Axis Condos?

• September 16th 2009

by Mark Wellborn

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A home buyer looking for an unfinished penthouse in DC recently contacted UrbanTurf after a trip to AXIS condos in Capitol Hill to take a look at the development’s top floor units. He noted that there were a few construction and maintenance issues with the 20-unit project, so we took his questions to the folks behind marketing and selling the development to get some answers.

Penthouse Buyer: I was just at AXIS condos and was wondering what is going on there. It looks like there is still a fair amount of work to be done and we talked to a couple owners who said that the roof deck is unfinished and there are some leak issues in the parking garage. An ownership or condo board has not been established though only four units of the twenty remain unsold. Just wondering if Macy is still managing the building, and if so, when this work will be done. AXIS is a good looking building with a terrific small lobby, attractive corridors, and some upscale finishes. Still with all the pluses, I’m too afraid to commit to this condominium boutique building without knowing the answers to these questions.

We reached out to DCRealEstate’s Ken Johnson whose team is in charge of marketing and sales for AXIS. Here is his response that seems to cover all the bases.

The AXIS condos is nearly complete. Because of a construction financing shortage, the developer was unable to finish out the last few units, as well as the roof deck, which has yet to be built out. We expect those to be completed shortly. Out of the 20 units in the building, 15 have sold or are under contract, with one unit rented. The two largest penthouse units in the building are ideal ‘designer-ready’ condominiums for someone that wants their own shot at interior design. The remaining two units are complete except for the punch-out, and are available for purchase and immediate settlement.

The building is now managed by NM Management of Alexandria, VA. As for the water leak issues, there were some initial leaks that the developer has worked to address, as in almost all new buildings. We hope the initial problems have been fully resolved.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/what_is_going_on_at_axis_condos/1315.