March 2012

Found 13 blog entries for March 2012.

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According to data compiled by McGraw-Hill Construction, the Washington, DC MSA ranked fourth nationally for new construction starts in 2011.  At $8.1B, DC trailed only New York City, Dallas and Houston in new construction starts.  The study encompassed both residential and commercial construction, but does not include public works projects like the Metro expansion to Dulles.

In the residential sector, new construction projects remain highly sought after by DC property shoppers. Most of the projects that are delivering this year are smaller rehabs of existing buildings, rather than new buildings.  Here is a resource to view DC new construction condo listings.

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In a city short of vacant land, the adaptive re-use of obsolete buildings has become the norm for developers.  One of the best transformations in recent years is the Parker Flats at Gage School project located on the border of LeDroit Park and Bloomingdale neighborhoods.  This 92-unit project is anchored by the meticulously restored circa 1904 Gage School which houses 33 loft-style condos.  The project also includes two new buildings designed to complement the historic neighborhood and a 70-space underground parking garage.

Parker Flats developer finishes in many of the Gage School units include exposed brick, 14-foot ceilings, 12-ft historically accurate windows, stainless appliances, granite counters and maple cabinets.  Common amenities include

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The exact borders of the popular Capitol Hill neighborhood in Washington, D.C., are a hotly debated topic.  The neighborhood shifts according to the varying needs of home sellers and real estate agents. Many unsuspecting home buyers wanting to “live on the Hill” look at properties advertised as such only to find they’re technically in another neighborhood and end up feeling misled.   Long-time residents frequently challenge any reinterpretation that could affect their desirable address and associated property value. 
 
Capitol Hill is one of the oldest residential communities in the District and is also one of the most densely populated with more than 35,000 people in just two square miles.  The name “Capitol Hill” is frequently used to refer to both

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The Capitol Hill condo project on on D Street formerly known as Congressional Overlook is now back on the market as Congressional Mews. The project features eight units with true Victorian-era styling and upscale finishes.  With a location directly across the street from Congressional Office Buildings, Congressional Mews offers prime access to our nation's power brokers.

This project originally hit the market at the worst time and the units languished unsold as the developer was slow to adjust pricing expectations to the changing market.  Per MLS data, 23 D Street sold on 04/06/10 for $1.9M to an LLC based in Seffner, FL.  Per the DC Real Property Assessment Database records, the remaining six unsold units at Congressional Overlook were sold to a

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315 G is newly released condo development that converted a vacant and neglected apartment building in the H Street Corridor into 15 boutique condos.  The building's historic exterior has been restored, while the interior has been updated with sleek modern finishes. 

315 G features 15 one and two bedroom units on three floors.  Developer finishes include stainless appliances, chocolate bamboo wood floors, contemporary cabinetry, SileStone countertops, pendant lighting and high ceilings.  All units have washers and dryers and selected units also have private patios.

Located just a block from the revitalized H Street and three blocks from Union Station, 315 G is convenient to the entire city.  Currently, three 315 G units are listed for sale in our

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Perched atop the list of luxury condo developments in Washington, DC is the Residences at the Ritz-Carlton Georgetown.  This 28-unit development offers the ultimate in luxury and convenience, rivaling the personalized services of the finest Manhattan or London luxury buildings.

With the Potomac River serving as a back-drop, views from the Residences are dramatic and among the best in Washington, DC. Delivered in 2003, original developer finishes included ten foot ceilings, Sub Zero and Viking appliances, Poggenpohl kitchen cabinets,  limestone entry foyers, marble bathroom floors, Brazilian cherry hardwood floors and individual private balconies.  The Residences are pet-friendly and units usually convey with one or two parking spaces.

Personalized

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The Woodley Wardman development in Woodley Park has released four Christian Zaptka-designed penthouse residences that are now available for sale.  The Woodley Wardman was recognized by national real estate advisory firm Delta Associates as the "best boutique condominium project in the Mid-Atlantic Region in 2011."

The Woodley Wardman project successfully fuses four historic Wardman-era brick row houses fronting Connecticut Avenue with a new seven-story structure.  The penthouse units are located in the new tower and offer awe-inspiring views of the DC skyline including the National Cathedral and Rock Creek Park.

The Woodman Wardman has been overwhelmingly well received by clients that we have toured the project with.  The quality of the finishes

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The most expensive condo/co-op to sell in the District during February 2012 was in Foggy Bottom at the Watergate located at 2700 Virginia Avenue #1202/1203, Washington, DC.   This 3 BR / 4.5 BA / 3,683 SF co-op includes two parking spaces.  The selling price was $2.995M / $813 SF, which was 100% of asking price.



Congratulations to Gigi Winston of Winston Real Estate, Inc. for closing the most expensive condo sale in the District in February 2012.

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Honorable mention for the second most expensive DC condo sold in February 2012 was in Georgetown at 3303 Water located at 3303 Water Street NW #H-3, Washington, DC.  This 2 BR / 2.5 BA / 1,921 SF condo includes two parking spaces.  The selling price was $2.45M / $1,275 SF, which was 100% of asking

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With the 1500 block of 14th Street in Logan Circle attracting powerhouse brands like Mitchell Gold + Bob Williams and TTR Sotheby's International Realty, it was only a matter of time for development to spread southward to the 1400 and 1300 block of 14th Street. While Caribou Coffee was a start, to date there hasn't been a groundswell of development activity on these blocks.

Upstart DC-based developers CAS Riegler have made a mixed-use bet on the former Lionel Train store located 1324 14th Street.  A ground floor restaurant and five upscale condos being marketed as Lionel Lofts are currently under construction as chronicled by Preservation Nation.

Lionel Lofts delivery is targeted for the summer of 2012.  Here is a resource to learn more about Lionel Lofts.

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Located between Georgetown University and the Georgetown Visitation Preparatory School, the Cloisters is a slice of serenity in this busy section of Georgetown.  The community bounded by Reservoir Road, 35th Street, Winfield Place and 37th Street, features mature landscaping including a green canopy formed by crape myrtle and cherry trees.

With 138 three-story and four story brick townhomes, the Cloisters offers an intimate residential experience where residents actually know their neighbors. Townhomes at the Cloisters range in size from 2 BR /  3.5 BA to 5 BR / 4.5 BA.  Some floor plans feature both garage and outdoor parking as well as a private outdoor patio.

Currently, three homes are listed for sale at the Cloisters including a 3 BR / 3.5 BA / 2,500

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