Mica Condos Update

The Mica Condos are a condo conversion project located in downtown Silver Spring, MD [suburban Washington]. The building used to be called Springwood Apartments.

Prices for remaining units.
Click on image for larger version.

Here is some more information on the Mica Condos:

• There are 140 units in the building.
  
• 82 of them have sold so far [as of 4/1/06].
  
• There are 17 studios in the building. All have sold for prices in the very low 200's.
• 10K for a surface parking spot. 20K for Garage Spot. Free spot for 2br/2ba, amd 3Br units. Monthly Parking Fees Apply
  
• Free 42' Plasma TV and 1 Yr Free Cable
• Condo Fees per month: Studios $240 a month, 1BR $390, 2br/1ba $459, 2br/2ba $645, 3br 2.5ba $716. Includes "Electric, Natural Gas, Water & Sewer, Pool,, Club Room w/ Billboards, Media Center, Fitness Center, Common Area Maintenance, On-Site Management, Reserves, Master Insurance Policy, Snow & Trash Removal"
  
• Realtor Agents 3%
• The sales people are pushing Interest Only ARMs 3yr, 5yr, 7yr or 10yr. There are only three companies that can do the loans George Mason, CountryWide and Wells Fargo.

Previous Posts:

• The Mica Condo Developers Must Love Me
• Mica Condos in Silver Spring
• Selling at Mica Condo in Downtown Silver Spring