When construction finished up 1967, the Parc Lafayette Condominium complex was thought to be one of Lafayette Park's best properties. Minimalist design aesthetics, huge windows, and an emphasis on landscaping all mirrored the Mies van der Rohe ideas flourishing just a few blocks south. At least that's what we read, so when we came across a one-bedroom condo asking just over $14K, we had to see how a property that's both adjacent to the Dequindre Cut and a stone's throw from Eastern Market might be so cheap. As it turns out, the Parc Lafayette condos are far from flourishing. They're falling apart.
The complex is made up of a seven-story apartment building surrounded by eight low-rise buildings in a U-shape. The units each have their own private porch or balcony, most overlooking the pool/patio area in the center. It's the landscaping, however, that might be Parc Lafayette's best feature. Small hills dotted with mature trees make for an especially scenic courtyard. According to a resident, that sunken garden was once flourishing, surrounding the pool like a leafy moat.
Strangely, many of the units appear to be vacant. Fallen railings and crumbling concrete are everywhere, implying maintenance has come to a standstill. Most of the other developments in Lafayette Park are still doing well today, so it's unclear what went wrong at Parc Lafayette, especially given that the property has so much going for it. While dated in decor, the apartments are large and bright, each with its own access to a private underground garage. We even spotted a couple roof decks. What more could you ask for?
The one-bedroom that originally caught our eye appears to be off the market, but this three-bedroom is currently asking $34,900. Why aren't these condos being scooped up, remodeled, and used for hosting legendary pool parties? It probably has something to do with the high association fees: The owner of that three-bedroom has to pay $763/month.
· 1951 Orleans St #13 [Movoto]