September 2012

Mirroring recent national statistics released by the National Association of Home Builders, new townhouse construction in the District is gaining momentum as the real estate market rebounds.  On a national basis, new townhouse starts represent approximately 11% of all residential single-family housing starts.

Here in the District, longtime DC builder EYA has a twenty-year track record of building urban townhouses. Past EYA projects have dramatically shaped several DC neighborhoods including Hillandale at the northern edge of Georgetown, Bryan Square Townhomes on Capitol Hill and Harrison Square Townhomes in the U Street Corridor.

Current EYA projects in the District include Chancellor's Row in Edgewood and close to the Brookland Metro Station.  EYA is

The most expensive condo to sell in the District during August 2012 was in Georgetown at Washington Harbour Condos located at 3030 K St NW, #304, Washington, DC.   This 2 BR / 2.5 BA / 2,249 SF condo includes one parking space.  The selling price was $1.33M / $591 SF, which was 89% of the asking price.

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

Honorable mention for the second most expensive DC condo sold in August 2012 was in Tenleytown at Tenley Hill located at 4750 41st St NW, #508, Washington, DC.  This 4 BR / 3.5 BA / 4,150 SF three-level penthouse condo includes two parking spaces.  The selling price was $1.25M / $301 SF which was 87% of asking price.

DC Condo Boutique team members Donna Mank represented the buyer and team member Mansour Abu-Rahmeh represented the seller of a newly renovated condo located at 2419 1st Street #1 in DC's LeDroit Park neighborhood.   This condo featured 1 BR / 2.5 BA / 2,418 SF, upscale designer finishes and an off-street parking space. This unit sold on September 7th, 2012 for $535,000 / $221 SF.

Washingtonians are discovering the charm of LeDroit Park and the strong value proposition associated with this neighborhood.

The Metropolitan DC region was recently ranked first in the nation for walkable urban places.  The region now has 43 distinct walkable neighborhoods scattered across Maryland, Virginia and the District.  These walkable districts are attracting significant capital and are viewed as the best places to invest and build by many developers.

DC is at the forefront of this walkable urbanism phenomena, as our market has continued to attract investment capital during the housing downturn.  There are now pockets of new development in the vicinity of almost every Metro Station in the system throughout the region.  In the District, a wave of new development is underway in a long list of neighborhoods across the city.

Over the last decade, we have seen

While DC is often defined by its famous wide avenues and streets like Pennsylvania, M and 14th, its the quiet residential side streets that provide the District its true soul. Nearly every DC neighborhood has a soulful side street including Church Street and Swann Street in Logan Circle, Tracy Place in Kalorama and Duddington Place and Walter Street on the Hill.  The Dupont Circle Neighborhood is home to several soulful side streets including Hillyer Place, Newport Place and Jefferson Place.

Jefferson Place runs just one block between that funky Connecticut Avenue/18th Street intersection and 19th Street.  Traffic runs one way from Connecticut/18th to 19th and street parking is allowed on both sides of the street.  There are plenty of places in close

DC Condo Boutique team member Donna Mank represented the buyer of a loft-style condo at Wooster and Mercer Lofts located at 1600 Clarendon Boulevard #W313 in Arlington's Clarendon Boulevard corridor.   This NY-style loft featured 2 BR / 2 BA / 1,689 SF and a garage parking space. This unit sold on August 30th, 2012 for $835,000 / $494 SF.

The Wooster and Mercer Lofts project was built by Abdo Development who has delivered many other exciting projects to DC including Landmark Lofts and Bryan School Lofts.