December 2011

Neatly tucked between Georgetown and Dupont Circle, just north of Foggy Bottom lies DC's West End neighborhood.  This location is convenient to much of DC including major employers like the World Bank, IMF, GWU and downtown professional firms.  The West End is also ideal for access to National Airport, the Pentagon, Rosslyn, Dulles Corridor and many points in Northern VA.

The West End is arguably the most built-out DC neighborhood with both commercial and residential structures and very little land remaining for infill development.  The newer projects that have been built in the West End are at the top end of the District luxury scale and have set the bar with "Manhattan-style" finishes, amenities and services.  Convenient access and plenty of newer

As DC rushes around this week making final preparations for the Christmas Holiday, it seemed most appropriate that we take a peek at the St. Nicholas in Kalorama.  If there is a building in the District worthy of its namesake from the North Pole, this is it!

Located on venerable California Street in Kalorama, the St. Nicholas is one of DC's most treasured Beaux Arts style condo developments. This six-story building was built in 1917 and has been recently updated including a new elevator.  Many of the 31 units at the St Nicholas have terrific city views and convey with underground parking.  The St. Nicholas common amenities include a ground-level fitness room.

Located just two blocks from Connecticut Avenue, the St. Nicholas weighs in with a WalkScore of

The most expensive condo to sell in the District during November 2011 was in Georgetown at The Residences at the Ritz Carlton Georgetown, located at 3150 South Street NW #3B, Washington DC.  This 3 BR / 2.5 BA / 4,708 SF condo includes two parking spaces.  The selling price was $5.3M / $1,126 SF which was 96% of asking price.

Congratulations to William F.X. Moody of Washington Fine Properties, LLC for closing the most expensive condo sale in the District in November 2011.

Honorable mention for the second most expensive DC condo sold in November 2011 was a co-op in Kalorama at 2029 Connecticut, located at 2029 Connecticut Avenue #31, Washington, DC.  This 4 BR / 4.5 BA 5,400 SF co-op includes two parking spaces.  The selling price was $3.1M / $574

Captain and Tennille……Rogers and Hammerstein……Siskel and Ebert……Hall and Oates……Sid and Nancy…..Cheech and Chong……Georgetown and luxury condos…….yes if you are playing a word association game with a Washingtonian, it highly probable that they would put Georgetown and luxury condos together in a pairing.

There are a number of factors that have driven developers to build luxury condos in Georgetown and the neighboring West End.  Georgetown's historic narrow streets and active neighborhood special interests groups, coupled with its location on the banks of the Potomac River and its namesake University have left virtually no developable parcels. From a practical standpoint, to deliver new residential housing in Georgetown requires the acquisition and

Combining the development talents of PN Hoffman…..with a prime 14th Street Corridor location…….and the industrial strength of a former C & P Telephone central office looks to sure be a winning formula called the Northern Exchange.

The Northern Exchange is a six-story building with a total of 36 units featuring studio, one bedroom and two bedroom floor plans.  Individual units will feature high ceilings, exposed brick walls, raised loft bedroom areas, Bosch Appliances and Porcelanosa tiled baths.  Building amenities include a rooftop deck, bike storage room, modern lobby and first floor retail.

Delivery is currently targeted for late 2012 and pricing has not yet been released.  Here is a resource to learn more about Northern Exchange real estate.

1900 Vermont is a new construction upscale town home development located in the U Street Corridor at the corner of Vermont and T.  These stone-front Victorian-style town residences offer an exciting urban alternative to traditional condo living in the heart of the the dynamic U Street Corridor.

1900 Vermont pricing has just been released:

1011A T Street (Lower Unit)
3 BR /  3 BA / 2.151 SF /  parking / rear patio / $994,000*

1011B T Street (Upper Unit)
2 BR /  2.5 BA / 2,138 SF / parking / roof terrace / $1,255,000

1013A T Street (Lower Unit)
3 BR / , 3 BA  /  2,015 SF / parking / rear patio / $959,500

1013B T Street (Upper Unit)
2 BR /  2.5 BA /  2,005 SF / parking / roof terrace / $1,245,500

Here is a resource to learn more about 1900 Vermont and other DC new

A national survey of 1,100 baby boomer-aged parents revealed that over two-thirds want to help their children or grand children with a down payment to purchase a home. Nearly 20% of the surveyed boomers have already provided financial assistance to their children for the purpose of buying a home. 75% of the surveyed boomers said that buying a property is a good investment for their offspring and 58% believe that homeownership is part of the American Dream.

Here in the District where condo prices are among the highest in the nation, it is quite common for first time buyers to get assistance from their parents. We often work with a young first time buyer to identify their top purchase choices…..then meet the parents to gain their buy-in as well.