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.



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 price.



Congratulations to selling Realtor Nicole Norton of TTR Sotheby's International Realty for closing this transaction.



In February 2011, four DC condos sold for $1M or more, on par with four in January, down from eight in December and five in November.

If you are interested in learning more about luxury condos, here is a resource to view DC luxury condos that are currently listed for sale.

In a recent study conducted by Realtor.com, Washington, DC ranked first in the nation for having the smallest size homes.  The study calculated the median square footage of all the homes listed for sale in September, 2011.

DC homes weighed in with a median home size of 1,000 sq. ft. and a median lot size of 2,375 sq. ft. Rounding out the top five smallest median home sizes were Hawaii, Michigan, Iowa and Ohio.  The DC top ranking makes sense as this study utilized state data rather than just urban cities or Metropolitan Statistical Areas (MSAs).

Many of the smaller condos in the District are located in more venerable residential neighborhoods like Foggy Bottom and Dupont Circle with larger units more readily available in neighborhoods like Logan Circle and U Street that have had a significant number of new developments built in the last ten years.

While the Potomac River flows several miles through DC, condos in the District with views of the river are hard to find and command huge price tags.

A significant portion of the Potomac's shoreline borders the Potomac Park and the Tidal Basin where there are no residential neighborhoods.  The river does front residential neighborhoods in Foggy Bottom and Georgetown.  In Georgetown, the elevated Whitehurst Freeway further obstructs views of the the Potomac from many condos.  All this ads up to very few vantage points in the city with residential river views.

Yes, Potomac view are rare, but there are a few buildings with amazing Potomac views.  Included in this list are buildings where the majority of the condos have a view, omitted are buildings where maybe the penthouse or rooftop has river views but the majority of the building does not.  DC condos with Potomac River views include:

• 3303 Water
• Residences at Harbourside
• Washington Harbour Condos
• Watergate

Prices for a DC condo with Potomac River views currently start at $449,000 at the Watergate and top out at $4.75M at 3303 Water.  

Tucked away in Foggy Bottom just nine blocks from the White House are the historic Hughes Mews and Snow's Court alleys.  These alleys feature charming row houses originally built in the late 19th century to accommodate the growing industrial workforce of Foggy Bottom.

Alley life in the 19th century was thought to be challenging with multiple families living in a single row house dwelling. In a project for the Historic Preservation Program at the University of Pennsylvania, School of Design, Eldra D. Walker provides an informative overview of late 19th century alley living conditions. Today, these alley homes have been restored to single-family homes and offer a unique urban experience.

Hughes News is located between 25th and 26th Streets and K and I Streets and Snow's Court is located between 24th and 25th Streets and K and I Streets in Foggy Bottom.

Currently, there are two homes available for sale on Hughes Mews, a 2BR / 1BA 700 SF row house listed for $534,000 and a 3BR / 3BA  1,800 SF contemporary home listed for $1.895M.  No homes are currently for sale on Snow's Court.

The Wall Street Journal reports that the Watergate Hotel is being renovated by Euro Capital Properties, Inc., who recently paid $45M for the property.  The hotel has been empty since 2007 and had been through a foreclosure proceeding after Monument Realty defaulted and failed to follow through on plans for a condo conversion.  The hotel is expected to be open for business after a two-year renovation.

The existing residential condo portion of the Watergate complex consists of 600 units located in four buildings: 2500, 2510 + 2700 Virginia Ave, NW  and 700 New Hampshire Ave, NW.  Over the last 12 months, 17 condos have sold at the Watergate complex ranging in price from $285,000 to $2.8M. Without a doubt, the Watergate sets the record in the District for having the widest spread in unit valuations of any development.

Currently, there are 38 active Watergate MLS listings, ranging in price from $335,000 to $3.99M.  With this current 27 month inventory of available units, the plan to renovate the hotel rather than a condominium conversion is a good strategy.

The Jefferson House, located at 922 24th Street, NW,  delivers Foggy Bottom affordability with an extremely convenient location just steps from GWU and the Foggy Bottom Metro Station.  Both Dupont Circle and Georgetown are just a 10-15 minute walk from this location.  Shopping is convenient with a Trader Joe's, Safeway, CVS and a hardware store all within a couple of blocks.  The Jefferson House weighs in with a Walk Score of 95, a true Walkers' Paradise rating

Recent updates have given this 1962 building a new more modern look. Building amenities include a pool and a 24 hour front desk.  The Jefferson House condo fees include utilities.

Currently, there are 4 efficiency condos for sale at the Jefferson House ranging in price from $239,000 to $259,000.