Jason DeWitt | Founder, The DeWitt Group at Real Broker LLC | Colorado Licensed Broker since 2014, FA100051493

Why Cherry Creek condos deserve their own page

Cherry Creek has more luxury condo inventory than the rest of the Denver metro combined. For buyers who want walkability, low maintenance living, lock and leave flexibility, or a Denver pied a terre without giving up the lifestyle, the Cherry Creek condo market is effectively the only serious option in the city. But not all Cherry Creek condo buildings are equal. The quality, the HOA fees, the reserves, the amenities and the resale story vary dramatically building by building. This page is the long version of the conversation we have with condo buyers in the neighborhood.

Working with us on a Cherry Creek condo: we represent buyers and sellers across every major luxury condo building in Cherry Creek. The diligence we do on HOA financials, reserves and building history is the single most important thing you can hire a broker for on a condo purchase. Schedule the call.

The buildings that matter

Laurel Cherry Creek

Laurel Cherry Creek is one of the newer premium condo buildings in the neighborhood, delivered in the last several years with high end finishes, a strong amenity package, and unit sizes ranging from smaller pieds a terre up to full floor penthouses. Pricing typically runs $1.5M to $5M+ for the most active unit tier, with penthouses clearing higher.

St. Paul Collection

The St. Paul Collection is a newer luxury condo development in Cherry Creek North with contemporary architecture and high end finishes. The building is positioned at the premium end of the Cherry Creek condo market. Pricing runs $1.5M to $5M+ for most of the active unit tier.

NorthCreek

NorthCreek is a more established luxury condo building in Cherry Creek with a mix of unit sizes and a well regarded long term track record. Pricing runs $1.2M to $3.5M for most active units depending on floor plan and view.

One Cherry Lane

One Cherry Lane is one of the more distinctive luxury condo buildings in the neighborhood, with larger unit sizes and a lower unit count per floor. Pricing runs $1.5M to $4.5M for most of the active inventory.

The surrounding Cherry Creek condo market

Beyond the flagship buildings, Cherry Creek has dozens of smaller luxury condo buildings built over the last 20 years, each with its own HOA structure, amenity package and price point. Pricing across the broader Cherry Creek condo market runs $800K to $4M for most of the luxury tier.

What condo buyers actually need to diligence

HOA financials and reserves

This is the single most important diligence item on any condo purchase. We pull the HOA budget, the reserve study, the last three years of financial statements, and the minutes from recent board meetings. A building with weak reserves or pending special assessments is not a great purchase, no matter how beautiful the unit is. We have walked buyers away from units in otherwise desirable buildings for exactly this reason.

Recent and pending special assessments

Special assessments are one time charges levied by the HOA for capital projects (roof replacement, elevator modernization, facade work) that were not fully funded by the reserves. A building with recent or pending special assessments needs to be underwritten carefully. We pull the assessment history on every building before you write an offer.

Building age and capital plan

Older buildings can be wonderful purchases, but they require a more rigorous diligence process. We will pull the building age, the major system replacement schedule (HVAC, elevators, plumbing, roof) and the current condition of each before you commit.

Rental rules

Some Cherry Creek condo buildings allow short term rentals, some allow long term only, and some prohibit rentals entirely. If any of these matters to you (either because you plan to rent the unit or because you want to be in a building with stable owner occupant neighbors), we will pull the rental rules before you write an offer.

Pet rules

Cherry Creek is a dog heavy neighborhood and most buildings allow pets, but size limits, breed restrictions and number limits vary by building. If you have pets we will pull the pet rules before you write an offer.

Condo vs single family: who should buy what in Cherry Creek

Roughly half of the Cherry Creek buyers we work with are open to both condo and single family. Here is the short version of that conversation. Condos are the better fit for buyers who want lock and leave flexibility, low maintenance living, and walkability without yard work. Single family is the better fit for buyers who want outdoor space, more storage, a garage for multiple vehicles, and the ability to make renovation decisions independently. Pricing per square foot is usually comparable between high end condos and single family homes in Cherry Creek, so the decision is usually about lifestyle rather than economics.

Frequently Asked Questions

What is the most expensive luxury condo building in Cherry Creek?

Laurel Cherry Creek and the St. Paul Collection are consistently among the most expensive newer buildings, with penthouses clearing $5M+ on the higher floors. One Cherry Lane is also positioned at the premium end of the market. The specific ranking can shift quarter to quarter based on which units are currently active.

What should I diligence on a Cherry Creek condo purchase?

HOA financials, reserve study, recent and pending special assessments, building age and capital plan, rental rules, pet rules, and the last three years of board meeting minutes. This is the single most important thing you can hire a broker for on a condo purchase. We have walked buyers away from units in otherwise desirable buildings because the underlying building financials were weak.

Are Cherry Creek condos a good value compared to single family in the same neighborhood?

Pricing per square foot is usually comparable between high end Cherry Creek condos and Cherry Creek single family homes, so the decision is usually about lifestyle rather than economics. Condos win on walkability, low maintenance and lock and leave flexibility. Single family wins on outdoor space, storage and renovation independence.

Can I rent out my Cherry Creek condo short term?

It depends entirely on the building. Some buildings allow short term rentals, some allow long term only, and some prohibit rentals entirely. If short term rental flexibility matters to you, tell us on the first call and we will build the search around buildings that allow it.

Is a newer or older Cherry Creek condo building a better buy?

Both can be great. Newer buildings have higher end finishes, stronger amenity packages and less maintenance risk, but tend to trade at higher prices per square foot. Older buildings can offer meaningfully more space for the money but require more rigorous diligence on reserves, capital plan and building systems. We will walk you through both on the first tour.

Jason DeWitt | Real Broker LLC | Colorado License FA100051493 | (720) 408-6032