Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top
July, 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
Two buildings led the way in sales volume during the month of July. The Pennsylvania in Penn Quarter and The Watergate in Foggy Bottom had four closings each. The Pennsylvania’s sales included Unit #501 with two bedrooms and two full baths. The 1,118 square foot apartment with its huge windows and high-end kitchen, sold for the full asking price of $675,000. Among The Watergate’s closings was Unit #417-S, a two-bedroom, two-bath cooperative with a spacious 1,735 square foot floorplan. The apartment with its renovated gourmet kitchen and river views. sold for $860,000.
Three buildings had three sales each: Madrigal Lofts in Mount Vernon Triangle, Turnberry Tower in Rosslyn, and Verse in Tysons. The closings revealed additional honors for two of the three addresses. Unit #1702 at Turnberry Tower received an accepted offer in July and closed the same month at $2,000,000, making it the second highest closing for the month as well as the fifth highest price per square foot at $898.07. Unit #1909 at the new Verse tower in the Tysons/McLean area closed at $710,000 after listing for $649,000. That’s the second highest list-to-sales ratio for the month. The new construction apartment with one bedroom, one bath and 774 square feet of space was also the fourth highest in the price per size category at $917.31 per sq. ft.
There were no fewer than six buildings with two sales each. CityCenterDC, 555 Mass, and City Vista are each in Washington’s downtown Mount Vernon Triangle, while Residences at Market Square and The Lafayette are right next-door in Penn Quarter. The Columbia is about a half-mile west in the West End community. Of the six, Unit #1004 at CityCenterDC had the sixth highest price per square foot at $873.54. The two-bedroom, 2.5-bath condo with 1,202 sq. ft. of light-filled living space and a private terrace running the width of the unit, sold for $1,050,000. Our final Top 12 building is the Ritz-Carlton West End. The full service building combines a world class hotel with two flanking condo towers. Unit #8J with a recent renovation and courtyard views, closed in July for $643,785.
Highest Sales Prices
The top sales price in July was accompanied by two additional honors. Unit #301 at Somerset House in Chevy Chase sold for $3,600,000 which is impressive enough on its own. But that closing figure was $100,000 over the original asking price of $3.5 million, making it the fourth-highest list to sales ratio at 102.86 percent. The three-bedroom, four-bath apartment with its elegant 3,623 square foot layout also captured second place in the price per sq. ft. category at $993.65. The Somerset House condominium buildings are set within the 17-acre gated Parc Somerset community, with a vast array of country-club style amenities including a clubhouse and sports complex with underground entries connecting to each building. Second place in the price sweepstakes along with fifth place in the size category goes to Unit #1702 at Turnberry Tower in Arlington’s Rosslyn waterfront community. The two-bedroom, 2.5-bath residence with 2,227 square feet of space, a private elevator, and a huge private balcony, sold for $2,000,000 ($898.07 per sq. ft.).
Coming in third is Unit #309 at Logan Station in the Logan Circle neighborhood. With three bedrooms, three baths, and 1,761 square feet of space spread out over two levels, this open and airy corner penthouse sold for $1,525,000. The new owners will enjoy a private elevator, giant wraparound windows, and a private roof deck with cityscape views. Unit #503 at Woodley-Wardman in Woodley Park takes a close fourth place with its $1,425,000 sales price. It also nabs the third-highest price per square foot at $967.41. The 1,473 square foot residence with two bedrooms and 2.5 baths is the result of a full renovation of the historic townhouses, resulting in a modern flat with stunning luxury finishes.
The fifth-highest sale in July belongs to Unit #802 at Lionsgate in Bethesda. The updated floor model with two bedrooms, a den/office, and 2.5 baths closed at $1,385,000. New wide-plank floors and a renovated gourmet kitchen are among the recent upgrades. Our final honoree in this category is Unit #PH4 at the contemporary Chase Point in Friendship Heights. The two-level penthouse with two bedrooms, a den, and two baths, sold for $1,350,000. With 1,869 square feet of space, this very attractive residence features a towering open living area with two stories of windows, an upper level loft, and a private rooftop with water and gas lines allowing for outdoor meals.
Highest Sales Price to List Ratio
Topping the list to sales ratio in July is Unit #312 at The Odyssey in Arlington’s Courthouse neighborhood. The two-bedroom, one-bath apartment with a 1,003 square foot layout was originally listed at $519,900. However, the flat with its all new hardwood floors and upgraded kitchen was bid all the way up to $602,252. That is a very impressive 115.84 percent of the original asking price. Second place in this category goes to Unit #1909 at the new Verse luxury tower, located in a rapidly developing area along the border between Tysons and McLean. The new construction condo on the 19th floor has one bedroom, one bath and 774 sq. ft. of living space. It sold for $710,000 after having been originally offered for $649,000, equaling 109.40 percent of asking. The apartment in the heart of the mixed-use Boro community also came in 4th in the size sweepstakes at $917.31 per square foot.
In third place is Unit #432 at The Columbia in DC’s West End neighborhood. The two-bedroom, two-bath residence with an airy 1,250 square foot floorplan listed on July 29 at $915,000 and sold the very same day for $955,000. That’s a one-day $40,000 increase (104.37 percent), proving just how popular the historic address is. Designed by Nathan C. Wyeth in 1915, the Italianate-style complex was originally The Columbia Hospital for Women. Unit #301 at Somerset House in Chevy Chase sold for $3,600,000 after its original asking price of $3,500,000. That’s an uptick of $100K for the elegant three-bedroom, four-bath apartment with a 3,623 sq. ft. layout. Not only does the residence earn fourth place in the list to sales category at 102.86 percent, it is also the highest overall sales price for a condo or coop in July as well as the second highest in the size sector at $993.65 per square foot.
Fifth place goes to Unit #430 at Union Row in the vibrant U Street Corridor. The 858 square foot residence with one bedroom, a den, and two full baths, closed at $610,000 after listing for $600,000 (101.67 percent). Features include gleaming hardwood floors, exposed ductwork and plumbing, and a large open living, dining, and cooking area. Closing out the list is Unit #418 at Lofts 14 in Logan Circle. The two-bedroom, two-bath condo with soaring ceilings sold for $800,000 after listing for $799,000 (100.13 percent).
Highest Prices Per Square Foot
Topping the highest price per size category in July is Unit #602 at VIO at The Wharf in the Southwest Waterfront. The one-bedroom, one-bath flat with a 720 sq. ft. layout sold for $860,000, translating to a hefty $1,194.44 per square foot. That said, the views of boat slips, the Washington Channel, East Potomac Park, and the Potomac River beyond, are priceless! Unit #301 at Somerset House in Chevy Chase not only captured second place in the price per square foot at $993.65, it was also the top overall sale at $3,600,000 as well as the fourth highest in list-to-sales at 102.86 percent. Three bedrooms, four baths, a gracious black marble foyer and an extended wraparound terrace are a few of the features for the 3,623 square foot apartment.
Third place goes to Unit #503 at Woodley-Wardman in the Woodley Park neighborhood. The 1,473 square foot residence with marble counters, hardwood floors, and views of the park, also had the fourth highest sales price at $1,425,000, equaling $967.41 per sq. ft. Capturing fourth place at $917.31 per square foot as well as second place in list to sales at 109.40 percent is Unit #1909 at the Verse condominium. Located in the new mixed-use Boro community, Verse is one of multiple new luxury towers in a rapidly developing area along the McLean/Tysons border. Among the amenities is a one-acre sky park with movies and grilling, an outdoor pool and lounge, a state-of-the-art fitness and yoga center, and a spacious clubroom with kitchen and bar.
Fifth place goes to Unit #1702 at Turnberry Tower in Rosslyn. The 2,227 square foot luxury apartment also had the second highest overall sale at $2,000,000 ($898.07 per sq. ft.). Stepping out from the private elevator, you’ll discover a marble tile foyer, marble baths, a huge open living and dining area, giant floor-to-ceiling windows, and a large private terrace. Closing out the list is Unit #1004 at CityCenterDC in Mount Vernon Triangle. The 1,202 square foot condo with two bedrooms and 2.5 baths sold for $1,050,000 or $873.54 per sq. ft. Bedroom suites are at opposite sides of the layout for optimal privacy, while an extended balcony is perfect for morning coffee or evening libations.
July, 2022 Highest Price New Listings
The highest priced new listing in July is a true stunner. Unit #PH3E at the Ritz-Carlton West End is a two-level penthouse offered at $7,500,000. The 5,112 square foot residence boasts three bedrooms, 5.5 baths, a huge open living area that extends to a spacious dining room, and a lovely library with floor-to-ceiling windows. There are three separate private balconies at the main level, two of which are dedicated to bedroom suites. Stairs ascend to a loft recreation area as well as an amazing private rooftop terrace. Second place goes to Unit #720/721 at the legendary Watergate in Foggy Bottom. Listed at $3,300,00, the 2,459 square foot cooperative is already under contract. Featuring an elegant renovation, the apartment has two bedrooms including a giant primary suite, 2.5 baths, a library with bar, and a sweeping terrace with impressive views.
Third place goes to Unit #6 at Kalorama Square. Offered at $3,295,000, the four-bedroom brick townhouse with 4.5 baths and 4,600 square feet of space has four main levels as well as a finished lower level with a staff suite. Among the many extras in the classic Kalorama residence are a private walled patio, an in-unit elevator, and two garage parking spaces. Up next is Unit #402 at The Madelon in the heart of Georgetown. Listed at $2,900,000, this two-level showcase penthouse with five bedrooms and 4.5 baths has 3,475 square feet of modern living space with giant window walls and a 600 sq. ft. private terrace. The gourmet kitchen is breathtaking, and there’s a breakfast room as well.
Fifth place goes to Unit #51 at the always popular Westlight in the West End neighborhood. Listed at $2,895,000, the sleek three-bedroom flat with three full baths and a 2,285 sq. ft. layout has pale hardwood floors, an open Euro-style gourmet kitchen with panelized appliances, and giant window walls. Among the building’s many amenities is DC’s only 25-meter heated rooftop pool. Closing out July’s Top 6 highest priced new listings is Unit #502 at the Tenley Hill Condominiums in Friendship Heights. Offered at $2,500,000, the pristine three-level penthouse has 4,150 square feet of living space spread out over three levels. Bedrooms are at the main and second level, with the third level dedicated to a sitting room, a recreation room with wet bar, extra storage, and an extended private roof level terrace.
