No, you didn’t leave your beer goggles on, someone needs a better camera

The MLS provides us all with a fairly regular chuckle or eye-roll. Bang-bang, two popped into my mailbox as cautionary tales of properties trying to find their way to a buyer. No, this isn’t a hatchet job. The properties aren’t bad. What it comes down to is pricing realistically and showcasing properties in their best light in a market that’s less steam-full.  Apparently neither Realtor read my recent piece deciphering the clues for an overpriced home.   Today I’ll start with a property with a mysterious and meandering series of price drops. On Friday, stay tuned for the home with the 16,029 percent price hike (if for no other reason, to be sure it’s not yours).

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“Backwards” Skyline Views from The Beat Lofts

Gosh, how time flies.  It seems like only eight years weeks ago that we began this journey highlighting Dallas’ high-rise options for winged home buyers.  Now I guess it’s back to grazing through Wednesday broker open houses, snacking on steam-table tacos like Costco on a Saturday for us all. And while I am dubious this will be any readers inaugural entry to this series, I’m including the links nonetheless.

Oh so long ago, this all started with two columns discussing the merits of buildings that include utilities in their HOA dues (here, here) many of which are lower-priced buildings. A House Porn duo of Dallas’ most expensive high-rises (here, here) came next before continuing into what passes for a high-rise mid-market (here, here). These final two columns (last week) focus on the budgetary opening salvo of high-rises … well, what passes for budget friendly (ain’t very budget-y).

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1505 Elm PH - Interior 1

Originally built in 1957 and designed by George Dahl, 1505 Elm Street began life as the home of Dallas Federal Savings. In 1974 it was sold to Dresser Industries for their headquarters. It changed hands a few more times before in 2001 Lazarus Property purchased it to convert into Dallas’ first office-to-condo conversion. The 17-story building now houses 67 condos including a 6,465 square foot, full-floor penthouse shell.

Since the converted units began selling in 2002, the penthouse has been relentlessly on the market for $1.5 million.  It’s been with Steve Shepherd of Local Dwelling since 2010.  Recently it took a huge price drop of over 36 percent to $985,000 or $152 per square foot. Compared to neighboring Museum Tower’s penthouse listed at $1,953 per square foot, this would appear to be a bargain …

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1505 Elm

There’s a new downtown property on the market that’s got the kind of luxury amenities you usually see on Turtle Creek, but for under $300K: a sixth-floor corner unit on Elm Street at North Akard with a stellar view, modern interior, and prime location.

The condo at 1505 Elm St. #604 is pretty much everything I imagine people desire in a downtown Dallas address: big, open floorplans; high-end appliances; awesome amenities; and easy access a DART light rail station across the street.

This 1-1.5 with a study is 1,482 square feet, listed by Gregory Iker at Dave Perry-Miller Real Estate for $235,000.

1505 Elm Y

Dallas architect George Dahl designed 1505 Elm, which was constructed in 1957 and served as Dallas Federal Savings bank for years before being abandoned. In 2002, it was part of the first wave of residential redevelopment in downtown Dallas, bringing 68 units to the market.

They didn’t cut corners in this building: it has an incredible level of amenities, which helps explain the whopping HOA fees of $1,001 per month. But those fees earn access to a 24-hour concierge, valet parking for residents and guests, a pool, sauna, private dog run, fitness center, Moroccan-style party room with billiard table and caterer’s kitchen, three high-speed elevators, and a super cool former bank vault that is now a wine cellar with a large dining table and individual wine lockers for residents. There’s even access to downtown tunnel system through lobby.

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From Midnight Cowboy to best grandpa ever!

Whenever and wherever he slept at 1505 Elm, the proud grand pappa had the photos of his grandchildren on every wall to keep him company.

Or, here’s why we like it when movies are made in Dallas.

First: what’s not to like about 1505 Elm in downtown Dallas? The .59 per square foot home association dues? That it was designed by George Dahl, built in 1957 as Dallas Federal Savings, once belonged to the Chamber of Commerce, was snapped up by Lazarus Property Co. who purchased the building in 2001 and turned it into 67 luxurious condominium units? There’s underground and valet parking, theater, fitness center, sauna, wine cellar, a catering kitchen, exterior amenities like a pool, dog run, and exterior cooking pavilion, and 24 hour valet and concierge. Enough good stuff that when actor John Voight was in Dallas recently to film the pilot for Midland, he leased a two bedroom, two and a half bath unit at 1505 Elm for about $3,000. (Can you imagine what that would have cost in NYC or LA?) Not only did he lease it, he furnished it complete with big gorgeous blown up photos of his grandchildren, yes, Angelina’s babies.

As Worth Ross broker Steve Shepherd told me today, originally Voight was going to lease a ranch just outside of town during the shooting. But Steve — or “Stevie” as Voight called him — showed him a host of two-bedroom units at 1505 Elm Luxury High Rise Residences and he was impressed. Impressed with the building, with the neighborhood — you can see the Joule pool and Charlie Palmers is only steps away, ditto Iron Cactus and more. “It reminds me of White Plains, New York, where I grew up,” Voight told Steve. “It’s a community around here and I like that a whole lot.”

He almost got the ranch, but changed his mind at the very end to lease the unit on the 18th floor. Steve’s sister-in-law helped furnish it, Voight being very traditional man. (Note: some of the furnishings came from the Mansion on Turtle Creek after the posh hotel’s recent re-do.) All the artwork (save for a few large maps)is enlarged photos of the children, one positioned so Voight could kiss her little angel lips easily every night.

Interiors, next post.