October 2010

 

Location...location...location are three words that can be used to succinctly sum up the Dumbarton Place condo development.  Located at the corner of 22nd St and O St, Dumbarton Place owners can enjoy the serenity of Rock Creek Park and its miles of trails located directly behind the building.  Around the corner is restaurant row, with a multitude of dining options.  The pulse of the District....Dupont Circle....is just a couple of blocks away.  

In a building that formerly housed the Congressional Quarterly, 1414 22nd Street NW was converted in 2005 by Monument Realty and The Carlyle Group into Dumbarton Place.  This upscale 6-story, 36 unit building has many luxury appointments including gourmet kitchens, large windows, and direct elevator access.  

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  In a city fixated with new construction, there is much excitement around the pending groundbreaking for our first new major residential condo project in four years. This week the developers of the residential condo project at 14th and S unveiled the name.....the District Condos.   Clever most definitely yes, but not necessarily the most Google-friendly option for those searching for the place.  
With very few new construction units left in the popular Dupont - Logan - U Street Corridor, the District Condos will arrive to market at a very opportune time.  This project helps to further meld the all the action on 14th near P Street and Church Street with the action of U Street.  It is a good bet that we will see additional announcements along this…

The article quoted below about the five traits of today's homesbuyers is very interesting and yet not neccesarily aligned with the homebuyer traits here in the District. 

A survey by American Lives, a consumer research firm in California, conducted a study for the trade magazine Builder to answer that question. Here are their conclusions:

• They are young. Most are under 45. Half said they had annual household incomes of $75,000 or less. Two-thirds are married.  >>>Most of our DC buyers fit the age profile highlighted in the article with the overwhelming majority in the under 45 age grouping.  The incomes are higher in the District and the percentage that are married is significantly lower.

• They are frugal. They consistently told surveyors they were

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The stretching of the Dupont Circle neighborhood borders by the DC real estate community seems to happen on a near-daily basis.  Realtors listing properties will go to great lengths to include the highly-coveted Dupont badge of honor in their listing.  As an altruistic stickler for details looking for order in our world....this common practice of advertising a property for sale in Dupont even though it is not....just feels wrong.

Wikipedia defines the Dupont Circle neighborhood as being bounded approximately by 15th Street NW to the east, 22nd Street NW to the west, M Street NW to the south, and Florida Avenue NW to the north.  This Dupont Neighborhood definition is very straight forward and truly shouldn't be a major point of debate.

Unfortunately in the

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Nevada Republican Senate candidate Sharron Angle is attacking incumbent Democrat Harry Reid for living at the DC Ritz while the residents of Nevada are suffering.  It is most likely an effective campaign strategy to blast ownership of a condo at the Ritz, but doesn't truly reflect the realities of the DC housing market.

Reid owns a 1 BR / 2.5 BA 1,179 on the 2nd floor of the West End Ritz which he purchased in 2001 for $750,000.  The current assessed value of this condo is $1,022,920.

   

In the context of the overall DC housing market a 1 BR unit on the 2nd floor is not living large as this video depicts.  In fact, this would be a non-issue if Harry Reid lived around the corner at 22 West.

As we work both sides of the aisle here at DC Condo Boutique, if

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The list of pretty DC Streets would not be complete without including Newport Place.  Lined with mature trees and historic colorful row houses, Newport Place is a beautiful one-block street in the Dupont West neighborhood. 

Newport place runs east-west between 21st Street and 22nd Street on the block bounded by N Street and O street.  Located just .26 miles from the Dupont Metro Station, homes on Newport Place weigh in with a WalkScore of 97/100 and a TransitScore of 93/100.

Currently, one home is available for sale on Newport Place, a 2 BR 1 BA row house listed for $499,000.

 

Have you heard about the new mezzanine-level people watching perch at the P Street Whole Foods?  Now you can sit high above the action and watch health-conscious mid-city-ites shake melons, squeeze oranges and occasionally sneak a grape or two. People watching doesn't get any better than this!

For those who like to people watch.....and who doesn't in DC...how about a DC condo with a prime-time people watching balcony?  What could be better than checking out the scenery from your private balcony?

Much of the DC housing stock has outdoor balconies and space orientated away from the action towards the rear property.  After much introspective thought, here are our picks for the best people watching balconies in the District:

Q14 - Tough to top a balcony

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The West End and Dupont Circle Top DC Luxury Market

The most expensive condo to sell in the District during September 2010 was in the West End at 22 West, located at 1177 22nd Street, NW #9H Washington, DC.  This duplex 2 BR / 2 BA, 1,869 SF penthouse condo also includes two parking spaces and a 530 SF roof terrace.  The selling price was $1.7375M / $930 SF.

Congratulations to selling broker Bill Hounshell of Hounshell Real Estate for closing the most expensive condo sale in the District in September 2010.

Honorable mention for the 2nd most expensive DC condo sold in September 2010 was in Dupont Circle at The Duncan, located at 1701 18th Street, NW #202 Washington, DC.  This 2 BR + den / 2.5 BA, 1,886 SF condo with original floor-to-ceiling stained glass

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CNNMoney reports that the DC metro area ranks first in the nation for the percentage of residents with a college degree.  A whopping 47.3% of our residents, aged 25 or older hold college degrees.  Nationally, the average percentage of residents with a college degree is 25%. 

The DC area has topped the national charts several times this past year including leading the nation for inbound migration, #2 city for young people and #2 city for working moms.

Our smart residents looking to make a real estate investment can take advantage of the ongoing DC first time buyer tax credit as well the opportunities available for 3.5% down payments in our FHA approved condo developments.

Really smart DC residents surf over to DC Condo Boutique to look for a new

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Most interesting blog post on the Streets of Washington blog about the colorful past of the parcel in Mount Vernon Triangle where City Vista is now located.  This parcel was previously home to the District's first convention center.  The first auto show in Washington's history was held at this location in 1900.  In 1925, the second floor of this building was converted into 50 bowling alleys, thought to be one of the largest in the world at that time.  Other interesting uses included an international food market and housing the National Historical Wax Museum.  The old building had a date with the wrecking ball in 1985.

City Vista now proudly sits on this historic block bounded by K, L, 4th and 5th Streets.  The size and scope of City Vista, made possible

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