Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top
August, 2020 DC Penthouse and Luxury Condo Marketing Activity Report
For the latest in the DC Luxury Condo Market, stay informed with our blog every month.
Most Units Sold
August was an unusual month for condominium sales in the Washington Metro area. While there was plenty of activity, there was only one building with four sales, none with three and 11 with two! Let’s start with The Whitman in the Mount Vernon Triangle. This full service condominium has a fabulous rooftop deck and pool, and contemporary interior design with bright, open layouts. Topping the building’s four sales in August is Unit #720 with two bedrooms, 2.5 baths and 1,585 square feet of living space. Among the features is an outrageously modern brushed steel diner-style kitchen. This apartment listed for $1,350,000 and closed for $25K over asking at $1,375,000. It was the third-highest list-to-sales ratio for the month and fifth-highest price per square foot. The list of buildings with two sales each begins with the very trendy Floridian in the U Street Corridor. Unit #603 is a two-bedroom, two-bath apartment with raw concrete ceilings and exposed ductwork. After listing for $599,000, the condo sold for $628,000. That makes it the highest list-to-sales ratio for the month at 104.84 percent.
Among the two sales at 1745N in Dupont Circle’s Historic Row was Unit #412, a one-bedroom, one-bath flat with 815 square feet of space. The apartment initially listed for $624,900 before upping the price to $629,900 and ultimately selling for $650,000. City Vista in the Mount Vernon Triangle had two sales in August, including Unit #1220, a 700 square foot one-bedroom flat that listed for $539,000 and closed at $542,000. The landmark Flour Mill in Georgetown had two closings, including Unit #702, a two-bedroom, 1.5-bath residence with a spacious 2,700 square foot layout and an impressive $1.2 million sales price. The Wooster and Mercer Lofts in Rosslyn had two full price closings in August, including Unit #W406, a one bedroom penthouse with soaring 21-foot ceilings that sold for $1,195,000.
Other buildings with two sales each include Clara Barton in the Penn Quarter, Gallery Place in Chinatown, the grand old Wyoming in Kalorama, Union Row in the U Street Corridor, Ventana in the Penn Quarter, and Yale Steam Laundry in the Mount Vernon Triangle. The latter was once a laundry facility for the White House, and is now home to ultra-modern lofts. Also notable in August are two buildings that haven’t seen action in a while. Unit #601 at Cooper Lewis in Logan Circle was the first sale at that building since December 2018. The two-bedroom loft condo listed for $1,399,999 and closed at $1,385,000. Unit #301 at The Darcy in Bethesda was the first sale at that building since June 2019. The three-bedroom, 2.5-bath residence listed for $1,899,999 and closed at $1.8 million, making it the fourth-highest priced condo closing in August.
Highest Sales Prices
The highest sales price in the DC area for August is Unit #404/405 at the iconic Watergate complex in the Foggy Bottom waterfront neighborhood. The supersized cooperative apartment with three bedrooms, 3.5 baths and 3,960 square feet of interior space closed for $3,700,000. The beautiful residence with a dramatic circular entryway, was redesigned by Outerbridge Horsey Associates, and features a giant, an open white-on-white Chef’s kitchen with recessed stainless steel appliances, and a sweeping 200-foot balcony offering views of the Potomac River and the Georgetown Waterfront Park. In second place is Unit #62 at 2101 Connecticut in the Kalorama neighborhood. Built in 1928, this grand old cooperative in one of DC’s finest neighborhoods, offers an exquisite grandeur that’s hard to match. The three-bedroom, 2.5-bath apartment with a very spacious 3,200 square foot floorplan sold for $2,750,000.
Unit #906 at The Weslie in Arlington’s Rosslyn neighborhood, is a multilevel penthouse with a magnificent spiral staircase that sold for $1,950,000. With three bedrooms, 2.5 baths and 2,064 square feet of living space, this renovated residence features Rosso Levanto marble and Brazilian Cherry flooring, as well as Persian marble floors and counters in the luxurious baths. A large private balcony offers views of the Arlington War Memorial and the Potomac River. In addition to the fourth-highest sale of the month, Unit #301 at The Darcy in Bethesda is the first sale at the building in more than a year. The three-bedroom, 2.5-bath apartment with 2,358 square feet of living space has giant window walls on two sides of the open living area, with a fabulous modern kitchen and two private balconies. It closed for $1,800,000.
In fifth place is Unit #703 at Turnberry Tower in the Rosslyn waterfront community. The two-bedroom, 2.5-bath flat with 1,803 square feet of space sold for $1,400,000. Included is a private elevator, floor-to-ceiling windows, a large terrace and luxurious marble spa-style baths. Closing out the six highest sales prices is Unit #601 at Cooper Lewis in Logan Circle. The two-bedroom, two-bath loft with 1,480 square feet of space sold for $1,385,000. It was the first sale at the award-winning Cooper Lewis since December 2018, and offers a stunning penthouse design with a private balcony overlooking P Street.
Highest Sales Price to List Ratio
Topping the list-to-sales ratio in August is Unit #603 at The Floridian in the vibrant U Street Corridor. The two-bedroom, two-bedroom condo with 863 square feet of living space listed $599,000 and sold for $628,000, translating to 104.84 percent. The layout has an industrial chic vibe with concrete ceilings, exposed ductwork and an open, space-saving kitchen. In second place is Unit #412 at 1745N in Dupont Circle’s Historic Row. The modern residence is inside a redeveloped row house, and was initially listed at $624,900 before upping the price to $629,900 and then selling for $650,000. That equals 103.19 percent of the hiked price! The 815 square foot flat with one bedroom and one bath, has wide-plank premium flooring and a stylish open design that belies the century-old brownstone façade.
Third place goes to Unit #720 at the hotel-style Whitman in the Mount Vernon Triangle. The two-bedroom, 2.5-bath residence with 1,585 square feet of space sold for $1,375,000, $25 thousand over asking, or 101.85 percent. The apartment with its open layout and super modern brushed steel diner-style kitchen, was also the fifth-highest price per square foot for the month. Unit #213 at Logan Station in Logan Circle, comes in fourth at 101.54 percent: listing for $649,000 and closing at $659,000. The one-bedroom flat has a den that works just fine as a second bedroom, along with two baths, gleaming hardwoods, an open kitchen and a fun private balcony.
Fifth place goes to Unit #PH207 at the elite Washington Harbour in Georgetown. The 1,568 square foot penthouse has two levels with an owner’s suite and luxurious bath, a powder room, a fireplace in the living room and a private rooftop terrace. It listed for $535,000 and sold for $542,500, or 101.40 percent. Closing out the Top 6 is Unit #1220 at City Vista in the Mount Vernon Triangle, listing for $539,000 and closing for $542,000 or 100.56 percent. The 700 square foot one-bedroom flat has hardwood floors in the main living area, a completely open gourmet kitchen and great skyline views from floor-to-ceiling windows.
Highest Prices Per Square Foot
The highest price per square foot honors in August goes to Unit #404/405 at the legendary Watergate in Foggy Bottom. The supersized 3,960 square foot apartment brought in $1,063.52 per square foot. The sales price of $3.7 million was also the highest for a condominium or cooperative in the DC Metro region for the month. The residence was redesigned by Outerbridge Horsey, with three bedrooms, 3.5 baths, a giant Chef’s kitchen and a sweeping 200-foot balcony offering views of the Potomac River and the Georgetown Waterfront Park. In second place is Unit #906 at The Weslie in Arlington’s Rosslyn neighborhood. The 2,064 square foot two-level penthouse sold for $1,950,000, or $944.77 per square foot. With three bedrooms, 2.5 baths, towering built-ins and Brazilian Cherry floors throughout, this impressive residence also boasts a magnificent spiral staircase and a large private terrace offering views of the Arlington War Memorial and the Potomac River beyond. It was also the third-highest sales price for the month.
Third place goes to Unit #601 at Cooper Lewis in Logan Circle. The loft penthouse with two bedrooms, two baths and 1,480 square feet of living space sold for $1,385,000 (sixth-highest for the month), translating to $935.81 per sq. ft. This was the first sale in the coveted building since December 2018. In fourth is Unit #704 at the very modern VIO, perched on The Wharf in the Southwest Waterfront. The two-bedroom, two-bath flat with 1,130 square feet of space sold for $1,045,000, or $924.78 per square foot. Pale hardwoods, an open gourmet kitchen and a balcony with views of the Washington Channel add to the allure.
Fifth place honors go to Unit #720 at The Whitman in the Mount Vernon Triangle. With a closing price of $1,375,000, the two-bedroom, 2.5-bath apartment has a 1,585 sq. ft. layout, equaling $867.51 per square foot. It was also the third-highest list-to-sales ratio for August for this stylish pad with its incredible brushed steel diner-style kitchen. Closing out the Top 6 is Unit #62 at 2101 Connecticut in Kalorama. The lovely cooperative apartment with its very spacious 3,200 square foot floorplan, sold for $2,750,000, or $859.38 per square foot. The three-bedroom, 2.5 bath residence with its Old World charm, was also the second-highest sales price in August!
August, 2020 Highest Price New Listings
The highest priced new listing in the Washington area in August is Unit #4E at 1055 High, a unique boutique condominium in Georgetown with just seven units. This dramatic penthouse is priced at $5,500,000 and comes with four bedrooms, a library, 4.5 baths and 4,081 square feet of living space. The open floorplan includes a highly modern kitchen that is recessed into walls and cabinetry, making it almost invisible at first glance. Included is a large terrace with river views, and four reserved garage parking spaces. In second place is Unit #905 at Somerset House in Friendship Heights, listed at $3,499,900. Nestled inside a private gated community with a country club setting, this four-bedroom, 4.5-bath apartment offers a 4,500 square foot floorplan and all the luxury lifestyle amenities, including a library and a wraparound private terrace.
Listed at $3,090,000, Unit #6A at the recently built Westlight in the West End neighborhood, takes third place. From the building’s staggered façade to the modernist interiors, this three-bedroom, three-bath apartment is a study in contemporary minimalism, with wide-open spaces, pale wide-plank floors and giant window walls. Fourth place goes to Unit #62 at 2101 Connecticut in the affluent Kalorama neighborhood. Listed at $2,895,000, the three-bedroom, 2.5-bath apartment at one of DC’s grand old buildings has already sold, closing at $2,750,000. With 3,200 square feet of living space, this three-bedroom apartment is an example of exquisite elegance and craftsmanship from a time gone by.
In fifth place is Unit #720/721 at the venerable Watergate complex in Foggy Bottom. Listed at $2,625,000, this double-sized three-bedroom cooperative has 3.5 baths and a 2,459 square foot layout, plus a 57 foot balcony with breathtaking views of the Potomac River. Recently renovated with new wide-plank floors, the apartment also offers a double-sized Chef’s kitchen with Wolf, Sub-Zero and Miele appliances. Our final entry for August is Unit #2408 at Turnberry Tower in Rosslyn. Priced at $2,495,000, the 2,039 square foot apartment boasts a private elevator, two bedrooms, a den, 2.5 baths, marble floors and a 400 square foot wraparound balcony with views of the river.
