October 2012

Found 12 blog entries for October 2012.

DC Condo Boutique team member Donna Mank represented the buyer of a Lofts 14 condo located at 1401 Church Street #308 in DC's Logan Circle Neighborhood.  This loft-style condo featured 1 BR / 1 BA / 860 SF, and a garage parking space. This unit sold on October 26th, 2012 for $525,000 / $610 SF.

The 1400 block of Church Street in Logan Circle is home to 6 loft-style condo developments and the most searched block on the DC Condo Boutique website.

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The latest DC condo conversion project to hit the market is The Marvin in Kalorama.  This project is the conversion of the Woburn Apartments located in the 1900 block of Kalaorama Road.  This project went through the Tenant Opportunity to Purchase Act (TOPA) and 23 tenants went ahead and purchased their units.  The remaining units in the development are now available for sale.

The Woburn Apartment building was acquired in August 2011 by Adams-Kalorama, LLC whose principals are real estate developers Martin Segal and John W. Holmes of Adams Investment Group, LLC.  After conversion the Marvin will have the following 37 units: seven studios; (20) one bedrooms and (10) two bedrooms.  The Marvin is a 5-story brick building that was originally built in

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Located in Adams Morgan just off 16th Street is 1661 Crescent Place, a James M. Goode Best Addresses Cooperative.  1661 Crescent is a Georgian Revival building designed by Joseph Younger that opened as a co-op in 1926.  Younger left his mark on DC also designing the Kennedy-Warren Apartments, Sixth Presbyterian Church and the Blackstone Hotel.

1661 Crescent Place is a six-story, red-brick building with prominent limestone trim and classical screens of columns.  Upon opening in 1926, original owners included military officers, foreign service officers and two Senators.     Other notable residents included Senator Thomas Gore (grandfather of Gore Vidal), portrait photographer Walter Bachrach and Edith Kermit Roosevelt (granddaughter of  President

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The Villaggio, located on Euclid Street in DC's Columbia Heights neighborhood is a contemporary condo development perched on a hill overlooking the District.  This 4-story project offers stunning views from the over-sized windows found in its units.  The Villaggio is built around a central courtyard which offers a quiet outdoor respite from city living.

Delivered in 2003 by Bogdan Builders, the upscale Villaggio finishes include maple hardwood floors, Italian granite, GE Professional stainless steel appliances and smart house technology.  The Villaggio is conveniently located two blocks from Meridian Hill Park, four blocks from the Columbia Heights Metro Station and six blocks from U Street.

Currently, there is one unit listed for sale at Villaggio

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If you like contemporary, one-of-a-kind architecture……then the Lacey is a DC condo development that you ought to check out.  This 26-unit building located in the U Street Corridor neighborhood at the corner of 11th and Florida is truly unique.  Designed by Division 1 Architects, the Lacey looks like no other residential building in the District with its industrial skin of steel, glass and concrete.  

The ground level units at the Lacey feel like futuristic row houses with separate industrial black metal stairways front entrances.   Units are sleek and contemporary with floor to ceiling walls of windows and exposed mechanical ductwork.  Builder finishes include Snaidero cabinetry, upscale appliances and wide-plank maple floors. Penthouse units have

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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.

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The twelve new condos nearing completion in Shaw at the corner of P and 8th are now selling.  This Capital City Real Estate project is designed to look like six row houses and has utilized wood-framed construction with a brick veneer facade.

The units are all at least 1,150 SF with 2 BR and 2 or 2.5 BA.  All units offer two-level living and have private outdoor spaces and private entrances.  Developer finishes include expresso cherry kitchen cabinets, white carrara marble counters, frameless showers, grecian slate bath tiles and Elfa closets.

At present, three 751 P condos are listed in the MLS ranging in price from $549,000 to $724,900.  Here is a resource to learn more about and view active 751 P real estate listings.  Our team is available to tour

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Here are the latest key metrics for the Washington, DC real estate market courtesy of RBI:

September 2012

  • Pending sales up 34%
  • Overall inventory down 35%
  • 2.18 months of inventory
  • Days on market down 17%

 
Year-to-Date

  • Sales up 3%
  • Average Price up 5%
  • Median Price up 7%

Buyers are challenged right now with the record-low available inventories.  Many of the more desirable listings have multiple offers within hours of hitting the market.  In a market this tight, it is critical for buyers to have their financing lined-up so they can pounce on new hot listings.  It is also critical to jump on viewing new listings as quickly as possible.  Our team is available and able to work around your busy schedule to tour the newest and hottest

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Developer PN Hoffman opened the doors this past weekend at Northern Exchange, its newest project at 14th and R in Logan Circle.  Northern Exchange is the conversion of a circa 1903 former telephone switching facility into 36 loft style condos.

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Clients that toured the facility this past weekend with the DC Condo Boutique team were unanimously positive in their feedback about the project and the units.  From the lobby which pays tribute to the buildings former use as a telephone company facility……to the industrial chicness of the unit finishes….feedback was very positive.  One challenge for some of our buyers was that there is no parking available at Northern Exchange.

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All of the Northern Exchange units put up for sale on the 2nd and 3rd

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The most expensive condo to sell in the District during September 2012 was in the West End at the Residences at the Ritz Carlton located at 1155 23rd St NW, #PH3A, Washington, DC.   This 3 BR / 4.5 BA / 3,378 SF penthouse condo includes two parking spaces.  The selling price was $3.3M / $977 SF, which was 97% of the asking price.

Congratulations to selling Realtor Nancy Taylor Bubes of Washington Fine Properties for closing the most expensive condo sale in the District in September 2012.

Honorable mention for the second most expensive DC condo sold in September 2012 was also in the West End at the Residences at the Ritz Carlton located at 1111 23rd St NW #S5A, Washington, DC.  This 3 BR / 3.5 BA / 2,776 SF condo includes two parking spaces.  The

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