Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top
July, 2019 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
With seven sales during the month of July, Somerset House in Friendship Heights is truly notable. That’s nearly twice as many closings as the next competitor! The luxury gated community is the epitome of “country club living” with three high rises set amongst 17 lushly landscaped acres. The amenities here are unmatchable, from the heated indoor swimming pool to tennis courts with an on-site pro. Coming in second is The Artisan in Penn Quarter with four closings. This fabulous boutique offers amenities that one usually finds only in larger condominiums. Plus, the Downtown address is right in the heart of Washington’s vibrant panoply of bars, restaurants, shops, entertainment and museums.
Three buildings came in third: City Vista in Mount Vernon, The Floridian in the exciting U Street Corridor and The Odyssey in Arlington’s Rosslyn neighborhood. Among these, Unit #8002 at The Floridian had the highest sales-to-list ratio in July. The very contemporary 1-bedroom, 1.5-bath flat with an additional den listed for $519,000 and sold for $550,000—105.97%!
Finally, in this very busy summer month, there were a staggering seven buildings with two or more sales. They are: 555 Mass in Mount Vernon, Adams Row in Adams Morgan, The Columbia in West End, Clara Barton in Penn Quarter and three buildings in the Rosslyn waterfront neighborhood—Artrium, Gaslight Square and Turnberry Tower. Of these, Unit #231 at Gaslight Square was one of the top sales in July. The 1,600 square-foot loft with its blonde floors, floating stairs, two-story windows and stunning private deck closed for $1,420,000.
Highest Sales Prices
The top sales price for a Washington DC area condominium in July is Unit #604 at The Lauren in Bethesda. Not only was the 3-bedroom, 4.5-bath (plus den) residence the highest-priced sale at $3,220,000, it was also the third-highest list price in July. Adding to that, the 3,575 square foot apartment listed and sold on the same day, at full price! Second place goes to Unit #5B at the classic and very exclusive Wardman Tower in Woodley Park. The 2-bedroom, 2.5-bath dwelling with 2,551 square feet of space, Austrian hardwood floors, a den, a Henrybuilt kitchen, marble baths and dramatic curved bay closed for $2,150,000.
In third place is Unit #807 at the posh Somerset House in Friendship Heights. The 2-bedroom, 2.5-bath apartment with 2,441 square feet sold for $1.9 million. Black marble floors in the foyer, blonde hardwoods in the living areas and a giant wraparound balcony add to the appeal. Next up is Unit #909 at The Weslie in Arlington’s Rosslyn neighborhood. The 2-bedroom, 2.5-bath residence has 1,734 square feet of living space, an intriguing tri-level floorplan reminiscent of the mid-century modern age, along with a fabulous private balcony offering spectacular views of the Potomac River and the National Monument. The closing price was $1,525,000.
Fifth place goes to Unit #231 at Gaslight Square in Rosslyn. With a sales price of $1,420,000, the 1,600 square foot loft offers pale maple wide-plank floors, matching floating stairs, soaring ceilings, exposed ductwork, two stories of factory style windows, a picture perfect kitchen and a terrific private deck. Unit #302 at The Wyoming, one of Kalorama’s grand “Best Addresses” buildings, sold for $1,350,000. The 3-bedroom, 2-bath apartment with 1,960 square feet of living space is in a classic Beaux Arts structure that features one of the most spectacular marble lobbies in all of Washington. Unit #602 at The Columbia in the West End sold for $1.3 million. The large corner unit with 2-bedrooms, 2-baths, 1,490 square feet of living space and a large balcony has southern exposure, lovely wide-plank hardwoods, a master suite and a gourmet kitchen. Special kudos to the complex’s ground floor Trader Joe’s! Also notable is the first sale since June of last year at the Edgemoor in Bethesda. The luxurious 2-bedroom, 2.5-bath residence has a den, 1,870 square feet of living space, beautiful walnut floors and en-suite bedrooms at opposite wings. It listed for $1,189,000 and sold for $1,175,000.
Highest Sales Price to List Ratio
The highest sales-to-list ratio in July is Unit #8002 at The Floridian in Washington’s trendy U Street Corridor. The 1-bedroom, 1.5-bath flat with 756 square feet of living space has hardwood floors, concrete ceilings, exposed ductwork, walls of windows and an extra office/den with a custom Murphy bed! The snazzy unit listed for $519,000 and closed for $550,000—105.97% of the original price! Coming in a super-close 2nd is Unit #1001 at Atrium in Arlington’s Rosslyn neighborhood. The 1-bedroom, 1-bath apartment with 756 square feet of living space and a private balcony closed at $420,000 which is 105.26% of the list price.
Unit #323 at Lofts 14 takes third place in the sales-to-list category. The 1-bedroom, 1-bath genuine loft is located in a former car showroom in Logan Circle’s "Auto Row." Priced at $499,900, this cool space with its exposed brick walls, ductwork and unique beamed ceilings closed at $523,370, a 105.10% markup. Next is Unit #304 at the Kalorama, a grand historic structure eponymously named for the affluent neighborhood in which it is located. This is the first sale at the building since April 2017. The 2-bedroom, 2-bath apartment with 1,354 square feet of living space, curved bay and rich architectural details listed for $1,150,000 and sold for $1.2 million. That’s 104.35% of list!
Unit #2 at the Rainbow Lofts in Logan Circle listed for $465,000 and closed for $480,000 (103.23%). The 1-bedroom, 1-bath ground floor flat with private patio at the former Rainbow Auto Body & Painting Co is the first sale since June 2017 for this popular Auto Row building. The final sales-to-list entry is Unit #405 at Turnberry Tower in Rosslyn. The super-spacious 1-bedroom, 1.5-bath apartment has 1,322 square feet of living space, marble floors and a big balcony. It listed for $839,000 and sold for $876,000, 103.10% of its asking price.
Also of note is the first sale at The Erie in trendy Adams Morgan since January 2017. Unit #C1 is a 2-bedroom, 2.5-bath loft with 1,621 square feet of living space that listed at $885,000 and sold for full price. Polished concrete floors, soaring ceilings, floating wooden stairs and an ultra-chic open modern kitchen with bamboo cabinets are a few of the attributes for this industrial showcase city home.
Highest Prices Per Square Foot
The highest price per square foot honors in July goes to Unit #514 at Lofts 14 in Logan Circle. The 1-bed, 1-bath plus den loft has 950 square feet of living pace and sold for $899,900, translating to $947.26 per square foot. The hipster living space with exposed ductwork and concrete ceilings also comes with a 500 square foot private terrace as well as a garage space and extra storage. In second place is Unit #416 at CityCenterDC in Downtown’s Mount Vernon Triangle. The sleek 2-bedroom, 2.5-bath flat with 1,209 square feet of interior space sold for $1,125,000 or $930.52 per square foot. Bonus points for the private patio!
In third place is Unit #604 at The Lauren in Bethesda. This was also the third-highest list price and the highest sales price in July, as well a full-priced sale on the same day the apartment hit the market! The giant 3,576 square foot residence sold for $3,220,000 or $900.45 per square foot. Impressive, all around! Next up is Unit #231 at Gaslight Square in Rosslyn. This 1,600 square foot loft sold for $1,420,000 or $887.50 per square foot. The stunning urban residence with maple floating stairs and a private deck was also the fifth-highest sales price in July.
Unit #302 at The Wyoming in Kalorama with 3-beds, 2-baths and 1,960 square feet of living space sold for $1,350,000 (sixth-highest in July) or $886.26 per square foot. The majestic Beaux Arts building with its grand marble lobby is one of Washington’s “Best Addresses.” Our final entry is Unit #909 at The Weslie in Rosslyn. The unique tri-level residence with 1,734 square feet of living space had the fourth-highest sales price in July: $1,525,000 which equals $879.47 per square foot. From its modernist interior to a large balcony with incredible views of the river and National Monument, this apartment is indeed special.
July Highest Price New Listings
The priciest new listing in DC during the month of July is Unit #6D at the iconic Wardman Tower in Woodley Park. The impeccably renovated 1928 classic boasts 3-bedrooms, 3.5-baths and 3,123 square feet of living space. With an asking price of $3,445,000, this lovely residence features tray ceilings, incredible Austrian wide-plank hardwood floors throughout, a massive Henrybuilt kitchen and marble baths that look straight out of a movie from the Golden Age.
Coming in a close second is Unit #905 at The Ventana in Downtown DC’s Penn Quarter. With a price tag of $3,250,000, this modern four-level penthouse is simply outrageous. Included are 5-bedrooms, 4.5-baths, nearly 4,000 square feet of living space, a private elevator, chef’s kitchen, floating stairs that resemble art installations, home office, wet bar, theatre room, an incredible private roof deck and a little something called a master bedroom suite that takes up an entire floor.
In third place is Unit #604 at The Lauren in Bethesda. The 3-bedroom, 4.5-bath luxury residence with 3,576 square feet of living space and a bonus den/office went on the market and closed the same day, for the full listing price of $3,220,000. It was also the first sale at The Lauren since March 2018. From the oversized master suite to a stunning gourmet kitchen with marble slab counters, this elite condo is in a prime location, steps from Bethesda Row. Also at The Lauren is Unit #702 with 3-bedrooms, 3.5-baths and 3,223 square feet. Already active under contract, the spacious penthouse with direct elevator access is listed at $3,099,000. Dark gray oak floors, soaring tray ceilings, luxurious baths and private balconies are a few of the features.
Fifth place belongs to Unit #51 at the extraordinarily modern Westlight in the West End. With an asking price of $2,895,000, this 3-bedroom, 3-bath flat with 2,385 square feet offers the height of minimalist chic, with pale hardwood floors, giant window walls and a white-on-white and stainless steel recessed kitchen that blends into the surrounding living area. The final entry in our high-priced sweepstakes is Unit #2009 at Turnberry Tower in Arlington’s waterfront Rosslyn neighborhood. Priced at $2,890,000, the 2-bedroom, 3.5-bath plus den apartment listed in July and has already had a price cut—it was originally offered at $2,920,000. From the private elevator to marble floors and an incredibly long balcony with stunning views of the Potomac River, this swanky pad with 2,655 square feet of living space is perfect for entertaining.