Luxury Court Square Condos Charlottesville VA For Sale

 

500 Court Square is a historic Charlottesville landmark located on Court Square in the downtown area and offers 12, small, historic condos. Though the condos are NOT luxurious the building is and so is the location.

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At twelve stories, 500 Court Square dominates Charlottesville’s skyline located at the highest point of the city, Jefferson and Fifth Streets. As there are only 12 condos, the remainder of the building is used for offices primarily law firms.

Recently Sold 500 Court Square Condos

 

Condos Sizes: studio, 1, and 2 bedrooms.

Condos Square Footage: 431 to 1,244 finished sq ft.

Completed in 1926 by renowned Lynchburg architect, Stanhope Johnson of Johnson and Brannanas, the magnificent, 138-bedroom, Monticello Hotel opened its doors to a large tourism crowd coming to Charlottesville to tour Jefferson’s Monticello.

Parking – There is on-street parking or you can rent a space in the nearby Market Street Parking Garage. Court Square Tavern is also located on the lower level of the building.

Median Price: As of 2023, the median price of a condo at 500 Court Square is $275,000. In 2022, 4 condos in 500 Court Square were sold. The four consisted of a studio (no bedroom), two 1-bedroom/1 bath condos, and one 2-bed/2 bath condo. The highest price paid was $347,500. The low was $220,000, and the median was $266,250.

Built 1924-1926, the architecture is Colonial Revival and made up of limestone, wood, and brick. In 1973, 500 Court Square Charlottesville became a luxurious condo development. From its impressive lobby to the spectacular mezzanine, 500 Court Square Charlottesville retains its original glamour.

HOA fees: for 2023 they are $412 a month.

HOA covers water/sewer, gas, electric, trash, the lobby attendant, and Ting fiber internet.

Charlottesville Public Schools serve 500 Court Square with Burnley-Moran Elementary, Walker/Buford Middle, and Charlottesville High.

Directions: From 250 By-Pass head South on Park Street towards Downtown. Cross over High Street and 500 Court Square Condominiums are straight ahead.

Location: On historic Court Square.

My thoughts: I love Court Square condos. They are cozy and historic. I also love the unbeatable location. I give this Charlottesville condo development an 8 out of 10. The condos are tiny and historic which means an owner could be hit with plumbing and electric problems.

Note – Johnson also designed the old Martha Jefferson Hospital and Gallison Hall, the magnificent Georgian Revival estate in Farmington.

Note – The front lobby is manned Monday-Friday.

Note – Monthly HOA fees are partially offset by revenue from cell towers on top of the landmark building.

Note – There is a laundry room on the 6th floor for the owner’s use. However, there are no washers or dryers in any of the condos.

Note – There are two elevators in the building. The freight elevator is available for move-in day.

Note – Originally it was to be named the Monroe Hotel (James Monroe lived near Jefferson at Highland, but Monticello had become such a popular tourist attraction that the owners decided to go with Monticello Hotel.

Update: From Sean Tubbs, a Charlottesville blogger…”Also of note, this month is the sale of 0 Court Square to an entity called Excellent Horse LLC, as well as the sale of a former law firm in the Monticello Hotel to a firm that appears to be interested in creating an event space. “