Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top
August, 2022 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
There was a clear leader at the top of the list for most units sold in August 2022. The iconic Watergate in Foggy Bottom accounted for seven closings, more than doubling its closet rival. Two of the Watergate sales were further distinguished in the August stats. Unit #720/21 with its modern makeover, two bedrooms, 2.5 baths, and 2,459 square feet of living space, sold for $3,000,000, making it the third highest sale for the month as well as the second highest price per square foot at $1,220.01. The other Watergate closing, Unit #1405-S, is a fabulous penthouse with three bedrooms, 2.5 baths, 3,070 square feet of living space and spiral stairs leading to a 1,045 square foot private roof deck. It listed for $1,295,000 before selling for $1,320,000, making it the third highest on the list-to-sales ratio at 101.93 percent of asking.
There were two buildings with three sales each. Spanning more than five city blocks in the downtown Mount Vernon Triangle, CityCenterDC has been described by the New York Times as a modern-day Rockefeller Plaza with condos, more than 40 upscale retail boutiques and restaurants, offices, hotels, and a 1.5 acre park. The Odyssey is the other building with three sales, located in Rosslyn and within walking distance of the Potomac River. Standout amenities include a 24/7 staffed lobby, a phenomenal rooftop swimming pool, fitness center, business center, party rooms, meeting room, and ground floor retail.
Three buildings had two sales each: 22 West in the West End, The Waterview in Rosslyn, and The Whitman in Mount Vernon Triangle. A major highlight from this grouping is Unit #7G at 22 West which captured the highest sales price in August as well as the third highest price per square foot. The three-bedroom, 3.5-bath apartment with its 2,995 square foot layout sold for $3,500,000, equaling $1,168.61 per square foot. There were no less than six buildings with one sale each: 2020 Lofts in the U Street Corridor, 3303 Water Street in Georgetown, 525 Water Street in the Southwest Waterfront, Adams Row in Adams Morgan, Chase Point in Friendship Heights, and Clara Barton in Penn Quarter. Special honors go to Unit #315 at Chase Point with the highest list-to-sales ratio for the month at 105.26 percent of asking, as well as Unit #5C at 3303 Water Street, capturing the highest price per square foot (the 1,394 sq. ft. apartment sold for $1,820,000, translating to $1,305.60 per square foot).
Highest Sales Prices
Capturing the highest sales price in August at $3,500,000, Unit #7G at 22 West in the West End neighborhood is a spectacular light-filled apartment with a private balcony overlooking Washington Circle. The three-bedroom, 3.5-bath residence has 2,995 square feet of sunny living space with a bonus updated library/office and a lovely gourmet kitchen. The listing also earned third place honors in the price per square foot category, at $1,168.61. Coming in a very close second is Unit #502 at The Lauren in Bethesda. The three-bedroom, 3.5-bath former builders’ model has a spacious 3,223 square feet of space plus two private balconies sold for $3,350.00.
Nabbing third place at $3,000,000 is Unit #720/721 at the legendary Watergate in the Foggy Bottom neighborhood. The completely renovated cooperative apartment with two bedrooms, 2.5 baths, 2,459 square feet of living space and incredible river views, was also the second highest price per square foot at $1,220.01. Fourth place goes to Unit #707 at Muse in Old Town Alexandria. The two-bedroom, 2.5-bath residence with a bonus den and a huge private terrace, sold for $2,243,000. Designed by SK&I Architecture, the new construction building is described as “Artful Living,” combing art spaces, upscale living, and a prime location.
Taking fifth place honors in the highest sales category as well as sixth place in the price per square foot, is Unit #PH18 at the fabulous VIO in the Southwest Waterfront neighborhood. The three-bedroom penthouse with 2.5 baths and 1,834 square feet of modern living space, sold for $1,930,000 ($1,052.34 per sq. ft.). The rare corner penthouse has two levels, with stairs winding up to an entertainment room and a 300 square foot private terrace with landscaping. Closing out the list is Unit #5C at 3303 Water Street in Georgetown. The 1,394 square foot condo with two bedrooms and two baths sold for $1,820,000, which also translates to the top price per square foot at $1,305.60.
Highest Sales Price to List Ratio
Topping the list to sales ratio in August is Unit #315 at Chase Point in Friendship Heights. The modern two-bedroom, two-bath apartment with a gourmet kitchen, lovely hardwood floors, and 1,100 square feet of living space, listed for $569,999 before being bid up to $600,000, representing 105.26 percent of asking. Second place goes to Unit #N1012 at the new eNvy development, directly across from Nationals Park in the Navy Yard neighborhood. The one-bedroom, one-bath condo with a tidy 695 sq. ft. layout sold for $575,000 (102.70 percent of the original price). As a bonus, you can watch Major League Baseball from the roof deck!
Coming in a close third is Unit #1405-S at the Watergate in Foggy Bottom. The super spacious 3,070 square foot penthouse cooperative with three bedrooms, 2.5 baths, and a mammoth double-sized living area, listed for $1,295,000 but sold for $1,320,000, translating to 101.93 percent. Stairs curve up to a glorious private roof deck with stunning cityscape views, adding an additional 1,045 square feet of space for entertaining! Fourth place goes to a double honoree. Unit #5C at 3303 Water Street in Georgetown listed for $1,795,000 before selling for $1,820,000 (101.39 percent). The two-bedroom, two-bath apartment with 1,394 square feet of space and floor-to-ceiling windows was also the month’s highest price per square foot at $1,305.60.
Unit #334 at The Lafayette in Penn Quarter nabs fifth place. The one-bedroom, one-bath flat with beautifully burnished hardwood floors and giant windows overlooking the courtyard, sold for $442,000 (100.68 percent). Closing out this category is Unit #102 at Logan Station in Logan Circle. The two-bedroom, two-bath residence with 1,134 square feet of face enjoys a unique sense of privacy with the ability enter through a private door and sitting porch, as well as through the main building lobby. After listing for S735,000, the roomy condo with its hardwood floors and intriguing floorplan sold for $740,000 (100.68 percent).
Highest Prices Per Square Foot
At the top of the highest price per square foot category in August is Unit #5C at the highly popular 3303 Water Street in Georgetown. The two-bedroom, two-bath residence with 1,395 square feet of airy living space, sold for $1,820,000, or $1,305.60 per square foot. The condo with its bonus den was also the sixth highest overall sale for the month. Next up is Unit #720/721 at Washington, DC’s iconic Watergate complex in the Foggy Bottom neighborhood. The coop residence was completely remodeled, merging the best of modern and mid-century modern concepts. The apartment features two bedrooms, 2.5 baths, an incredible marble gourmet kitchen, a wet bar and fireplace in the living area, 2,459 square feet of living space, and an extended curved balcony with views of the Potomac River as well as the swimming pool below. It was the third highest overall sale at $3,000,000, and the second highest price per sq. ft. at $1,220.01.
Third place in the size category at $1,168.61 as well as the top overall sale at $3,500,000 goes to Unit #7G at 22 West in the West End community. The three-bedroom, 3.5-bath apartment has a sunny 2,995 square foot floorplan, as well as an updated library/office and a private balcony. Unit #PH108 at Westlight in the West End captures fourth place, with its $735,000 sale equaling $1,153.85 per square foot. This unique one-bedroom penthouse with one bath and 637 sq. ft. of space is a white-on-white modern oasis in the sky, with a panelized kitchen that fits seamlessly into a corner, and giant windows overlooking the city.
Fifth place in the size category as well as fourth place in the highest overall sales, goes to Unit #707 at Muse in Old Town Alexandria’s arts corridor. The two-bedroom, 2.5-bath condo with a bonus den and 1,960 square feet of living space, sold for $2,243,000 ($1,144.39 pre sq. ft.). A large wraparound private terrace adds even more space. Our final entry is another double honoree. Unit #PH18 at VIO at the new Wharf development in DC’s Southwest Waterfront, sold for $1,930,000, taking fifth place in the top sales and sixth in the price per square foot at $1,052.34. The two-level penthouse has three bedrooms, 2.5 baths, an upstairs entertainment room, a 300 square foot terrace with landscaping, and 1,834 square feet of interior living space.
August, 2022 Highest Price New Listings
There was a crowded field of highest priced new listings in August, with the legendary Wardman Tower in Woodley Park accounting for the top two entries. Unit #PH-D at Wardman Tower heads the list with an asking price of $5,750,000. The three-bedroom, 3.5-bath penthouse has a 4,529 square foot floorplan, including a stunning library with fireplace. Expansive views include the Washington Monument and Taft Bridge, leading across Rock Creek Park to Kalorama. Unit #7D at Wardman Tower offers a similar layout with three bedrooms, 3.5 baths, and 4,648 sq. ft. of sunny living space. The price $4,750,000 for this beautifully appointed home with views of the National Cathedral.
Third place goes to Unit #701 at The Lauren in downtown Bethesda. Listed at $3,495,000, the three-bedroom, 2.5-bath condo has 2,676 square feet of modern and luxurious living space. Other features include private elevator entry, a large balcony, and two parking spaces. The boutique building has just 29 residences, with full service amenities including 24/7 front desk, concierge, a wine bar and screening room, valet parking and laundry, a gym, a roof deck and more. Coming in a very close fourth place at $3,350,000 is Unit #502, also at The Lauren. This residence has a slightly larger floorplan than the previous listing in the same building, with three bedrooms, 2.5 baths, and 3,223 square feet of space.
Fifth place goes to Unit #1101 at CityCenterDC in Mount Vernon Triangle, listed at $2,950,000. The two-bedroom, 2.5-bath penthouse features soaring 12-foot ceilings, and 2,676 sq. feet of interior space. The living, dining, and cooking areas are open and filled with light from walls of wraparound floor-to-ceiling windows. An extended private balcony adds even more space. Closing out this category is an exclusive Life At The Top listing. Unit #2401 at The Waterview in Rosslyn is a spectacular residence priced at $2,695,000. With exquisite finishes and built-ins from notable designer Joseph Ireland, the 2,165 square foot apartment features the most incredible, unobstructed views of the Potomac River, Key Bridge, and the monuments from virtually every room including all three bedrooms, the living area, the dining area, and the open gourmet kitchen.
