The only ways to stop the condensation is to remove the moisture in the air where the pipe is located or insulate the cold incoming water line from the conditioned air. You have 52*+- water coming into a conditioned air space and that will draw moisture to the pipe. You would be best off finding some good pipe insulation and insulating the pipe. I wouldn't go the rag route....
If you decide to box this pipe in...put a small return air vent at the bottom and top of the space, this will at least allow for air to circulate through the space via natural convection and help keep it dry. But if you insulate the pipe well...this many not be necessary.
If you decide to box this pipe in...put a small return air vent at the bottom and top of the space, this will at least allow for air to circulate through the space via natural convection and help keep it dry. But if you insulate the pipe well...this many not be necessary.
