Tagged : massachusetts avenue heights

Forbes released its list of the 100 most expensive zip codes for single-family homes and 20008 was ranked #48 in the country and tops in the DC area.  The 20008 zip code includes the pricey DC neighborhoods of Kalorama and Massachusetts Avenue Heights as well as Cleveland Park and Woodley Park.

Per the Forbes report, the median listing price of a home in 20008 was $2.27M and the average days on market was 161. The time frame for this listing data was June 28, 2012 - September 28, 2012 and only utilized data for homes, not condos. 

If you are interested in learning more about real estate in the 20008 zip code, here is a resource to view active 20008 real estate listings.

The most expensive condo to sell in the District during May 2012 was in Foggy Bottom at Watergate South at located at 700 New Hampshire Avenue #404, Washington, DC.   This 3 BR / 3.5 BA / 3,750 SF co-op includes four parking spaces.  The selling price was $3.1M / $827 SF, which was 82% of asking price.

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

Honorable mention for the second most expensive DC condo sold in May 2012 was in Massachusetts Avenue Heights at the Shoreham West located at 2700 Calvert Street NW,  #107 Washington, DC.  This 2 BR / 3.5 BA co-op includes two parking spaces.  The selling price was $2.385M, which was 103% of asking price.

5th Avenue in New York.....North Lake Shore Drive in Chicago.....Turtle Creek Boulevard in Dallas and Louisburg Square in Boston are widely recognized as the most expensive streets for residential real estate in these cities.  This begs the question of what is DC's most expensive street?

In a quick informal poll, Tracy Place in Kalorama was the popular answer, although not a clear-cut winner like some of the other cities.  Wikipedia anoints Woodland Drive as DC's most expensive street, but lacks a citation backing up this proclamation.  Woodland Drive was also recognized as DC's most expensive street by Forbes Magazine in a 2007 story about the nation's most expensive blocks.

In reviewing MLS data of sold listings over the last two years, three

Former Treasury Secretary Hank Paulson and wife Wendy recently sold their Massachusetts Avenue Heights home for $3.25M, a whopping $1.05M less than they paid for the home in 2006.  The home located near the Washington Cathedral on 32nd St NW was constructed in 1940 and completely renovated in 2001.  The 3-level custom home sits in a private .44-acre lot adjacent to a park.  

The Paulson's home dropped 24.4% in value their 52 months of ownership, beating the national average loss of 29.3% during the same timeframe. With a net worth estimated to be north of $700M, this loss in the DC luxury real estate market is basically amounts to a rounding error in the Paulson's portfolio. 

Primo Massachusetts Avenue Heights Location

Former Treasury Secretary Henry Paulson is selling his Massachusets Avenue Heights home for 4.6M.  Hank and Wendy Paulson purchased the home located near the Washington Cathedral on 32nd St NW in 2006 for $4.3M.  This 3 BR /  3 BA home was constructed in 1940 and was completely renovated in 2001.  This three-story home includes a master-suite with living area and a home office.  Key features of the home include custom stone finishes, over-sized custom windows and a very private .44-acre wooded lot that is adjacent to a park.

In an interesting twist of fate, this home was previously owned by former New Jersey Governor Jon Corzine, who later served as co-CEO of Goldman Sachs with Hank Paulson, before Paulson