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May, 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
May wasn’t a month for volume sales at Washington’s top condominium buildings. But what is missing in quantity is made up for with a very high level of quality. There were two buildings with two or more sales for the month. The Floridian in the U Street Corridor is an exciting condo community with a prime location, next-door to the new Whole Foods. These modern loft-style residences offer giant window walls, eco-friendly bamboo and maple flooring, sliding barn doors and raw concrete ceilings. Unit #604 with two bedrooms and two baths listed for $575,000 and sold for $604,101, translating to 105.06% of asking. That makes it the second-highest list-to-sale ratio for the month. Unit #1003 with one bedroom and one bath closed at its full price of $425,000.
Union Row in the U Street Corridor also had two closings. The condo community is made up of two trendy structures; the Flats and the Warehouses. A special shout-out goes to Unit #301W in the Warehouse building, which sold for $1,535,000, making it the fourth-highest condo closing for the month. The tri-level end-unit with three bedrooms, 2.5 baths and 2,000 square feet of living space was redesigned by Will McGovern, and features a master bedroom with 18-foot barrel vaulted ceilings that are open to the loft above. From an incredible open modern kitchen to sliding glass doors and super chic baths, this home is truly unique.
Unit #PH2B at the Ritz-Carlton West End in the neighborhood of the same name sold for full price at $3,250,000 after being on the market for just one day. The tri-level penthouse is the most expensive closing in May. The dramatically transformed 2501 M in the West End neighborhood was initially a 1980s office building before being gutted and redesigned in 2017 by CORE Architecture with interiors by HapstakDemetriou+. Unit #T12 with two bedrooms, a den, 2.5 baths, 1,827 square feet of living space, sold for $1,975,000, making it the second-highest condo closing in May as well as the top price per square foot. Among the many features in this highly contemporary flat is a balcony overlooking Rock Creek Park and Francis Field.
525 Water Street in the Southwest Waterfront had one sale in May. The P.N. Hoffman-developed building is just a block from The Wharf with all its new shops, restaurants and entertainment. 555 Mass in the Mount Vernon Triangle also had one sale with Unit #1212 which sold for its full list price of $449,900. The one-bedroom, one-bath flat is ideally located in DC’s Downtown, next-door to Chinatown and steps from a dizzying array of attractions. Atrium in Arlington’s Rosslyn waterfront neighborhood is home to Unit #929, a modern one-bedroom apartment that sold for $420,000 or 100.48% of its list price, putting it in third place for the highest sales-to-list ratios in May. The Columbia in the West End neighborhood sold Unit #441 with two bedrooms, two baths and 1,405 square feet of living space for $1,200,000. Northumberland in Dupont Circle also had one sale each, as did the Residences at Market Square in Penn Quarter, where Unit #PH18 sold for $960,000. The penthouse had the fourth-highest price per square foot for the month at $1,000. Unit #M604 at Wooster and Mercer in Arlington closed at $850,000. Notably, Butterfield House on Capitol Hill had its first sale since August 2018 with Unit #101, a one-bedroom, one-bath apartment that sold at its full price of $399,900.
Highest Sales Prices
The top condominium sale in May also tied for the second-highest list price in the same month! Unit #PH2B at the Ritz-Carlton West End, located in the popular West End neighborhood, sold for 100% of asking at $3,250,000. The offer came in the first day on market, with a closing 17 days later. The three-bedroom, 2.5-bath penthouse has three levels of living space and a 3,146 square foot floorplan. The spacious residence with its dramatic tray ceilings and gleaming hardwood floors enjoys the third-highest price-per-square foot in May. Features include a wood-paneled library, a giant master suite with sitting room and fireplace, and multiple private outdoor spaces including a roof level terrace.
In second place is Unit #T12 at 2501 M in the West End. The super modern 1,827 square ft. flat with two bedrooms, 2.5 baths and a den, sold for $1,975,000. In addition being the second-highest sales price, the apartment also has the top price per square foot. A minimalist gourmet kitchen is recessed into the walls, while giant floor-to-ceiling windows and a balcony look out onto Rock Creek Park.
Third place goes to Unit #6A-W at the historic St. Nicholas in the Kalorama neighborhood. The multilevel penthouse sold for $1,725,000 after listing for $1,599,000. That makes it the third-highest sale and the highest sales-to-price ratio. The many features at this four-bedroom residence include a “tower room” and a 1,000 square foot rooftop terrace. In fourth place is Unit #301W at the Warehouses at Union Row in the U Street Corridor. The tri-level loft with three bedrooms and 2.5 baths was redesigned by Will McGovern and sold for $1,535,000. The industrial chic penthouse features exposed ductwork, brushed steel stairs, custom wall treatments, a spectacular kitchen, private balcony and a master bedroom suite with soaring 18-foot ceilings that open to the loft above.
Fifth place goes to Unit #46 at Dumbarton Place in Dupont Circle with a closing price of $1,470,000. The two-bedroom, 2.5-bath apartment has a bonus office space, a gourmet kitchen, giant floor-to-ceiling windows and a private balcony that looks out over Rock Creek Park. Those interested in the Dupont Circle neighborhood might also wish to visit Jeff Wilson’s new website, Live in Dupont. Closing out the list for May is Unit #441 at The Columbia in the West End, with a sales price of $1,200,000. The two-bedroom, two-bath residence has 1,405 square feet of living space, Brazilian cherry hardwood floors, tray ceilings and a lovely gourmet kitchen with white quartz counters, white Poggenpohl cabinetry, white brick backsplash and stainless steel appliances. One of the many perks of living at The Columbia is the on-site Trader Joe’s!
Highest Sales Price to List Ratio
Topping the sales-to-list ratio in May was Unit #6A-W at the grand old St. Nicolas in Kalorama. With four bedrooms, three baths and 2,245 square feet of living space, this beautiful penthouse has three exposures, an enclosed sunroom, a “tower room” and a 1,000 square foot private roof terrace. Listed at $1,599,000, the unique residence sold for $1,725,000, translating to 107.88%. In second place is Unit #604 at The Floridian in the U Street Corridor. The two-bedroom, two-bath flat listed for $575,000 and sold for $604,101, equaling 105.06% of asking.
Third place goes to Unit #929 at the Atrium in Arlington’s Rosslyn waterfront neighborhood. The contemporary one-bedroom flat with tile floors, private balcony, marble kitchen and marble bath, listed for $418,000 and sold for $420,000, or 100.48%. In fourth place is Unit #1212 at 555 Mass in the Mount Vernon Triangle. The one-bedroom apartment sold for its full asking price of $449,000, and features floor-to-ceiling windows and a gourmet kitchen with granite counters and stainless steel appliances.
Unit #101 at Butterfield House on Capitol Hill also sold for 100% of list, at $399,900. It’s the first closing at the distinctive building since August of 2018. The final full-priced sale is Unit #PH2B at the Ritz-Carlton West End, located in the West End neighborhood. The tri-level penthouse at the luxury branded full-service address has three bedrooms and 2.5 baths, along with gorgeous hardwood floors, dramatic tray ceilings, two fireplaces and multiple private outdoor terraces. The 3,146 square foot residence listed and sold for $3,250,000. The offer came in on the first day, with a closing later in the same month. It was the highest-priced condo sale in May as well as the third-highest in the price-per-square foot category.
Highest Prices Per Square Foot
The highest price per square foot honors in May goes to Unit #T12 at 2501 M in Washington’s West End neighborhood. The two-bedroom, 2.5-bath apartment with 1,827 sq. ft. of living space sold for $1,975,000, translating to a robust $1,081.01 per square foot. It was also the second-highest condo sale for the month. 2501 M used to be a 1980s dual purpose office and residential building. But DC-based developer PRP and the CORE architectural firm transformed the structure into something sleek and stylish with lots of glass. HapstakDemetriou+ then came in and designed the exceptionally modern interiors.
Second place goes to Unit #46 at Dumbarton Place in Dupont Circle. The two-bedroom, 2.5-bath apartment with 1,403 square feet of living space sold for $1,470,000 or 1,047.75 per sq. ft. The attractive flat with its wide-plank floors was also the fifth-highest overall condo sale for the month. A wall of floor-to-ceiling windows and matching French doors provide lots of natural sunlight as well as unobstructed treetop views of next-door Rock Creek Park. Take your meals out to your private balcony and enjoy!
In third place is a fabulous three-level penthouse that hit a lot of highlights in May. Unit #PH2B at the Ritz-Carlton West End in the West End neighborhood was the highest sales price at $3,350,000, the second-highest list price and the third-highest price per square foot, at $1,033.06 per sq. ft. The 3,146 square foot home in the sky boasts gleaming hardwood floors, tray ceilings, two fireplaces, a wood-paneled library, multiple large private terraces and a giant master bedroom suite with a sitting room and lavish spa bath.
In fourth place is Unit #PH18 at the Residences at Market Square in Penn Quarter. The one-bedroom penthouse with two new baths and 960 square feet of interior space sold for $960,000, equaling $1,000 per square foot. The luxurious apartment boasts wide-plank flooring, an open gourmet kitchen, a wet bar, marble baths and a large top-level private terrace offering unobstructed views of the Washington Monument. Fifth place goes to Unit #441 at the Columbia Residences in the West End. The two-bedroom, two-bath apartment has 1,405 square feet of living space and sold for $1,200,000, or $854.09 per sq. fit. The residence with its Brazilian cherry floors and a completely open gourmet kitchen was also the sixth-highest condo sale for the month. Rounding out our list is Unit #324 at Lofts 14 in Logan Circle. The one-bedroom, one-bath true loft unit offers soaring concrete ceilings, bamboo floors, exposed brick, overhead ductwork and piping, and an open gourmet kitchen with Scavolini cabinets. With 638 square feet of space, the loft sold for $540,000, equaling $846.39 per square foot.
May, 2020 Highest Price New Listings
One of the most iconic complexes in Washington is home to May’s highest priced new listing. The Watergate in the Foggy Bottom neighborhood may be synonymous with a dark chapter in American politics but it’s also a sprawling 10-acre community along the Potomac River offering spacious luxury cooperatives and full service amenities. With an asking price of $4,395,000, Unit #404/405 merges two residences into one supersized apartment with three bedrooms, 3.5 baths and 3,960 square feet of living space. Redesigned by Outerbridge Horsey Associates, this beautiful home features a dramatic circular entry, a wide gallery and octagonal hall, a library, master suite, a kitchen to die for and a 200 square foot balcony offering incredible views of the river, three bridges, the Georgetown Waterfront and Kennedy Center!
Coming in second is Unit #2 at The Logan in Logan Circle. The one-of-a-kind residence was listed at $3,250,000 but went under contract after just four days on market. With three bedrooms and 3.5 baths, this two-level condo is part of a completely restored and modernized Victorian building, and offers 3,460 square feet of elegant living space. Among the many features are an incredible white-on-white kitchen with marble counters and stainless steel appliances recessed into a wall of custom cabinetry, as well as a matching master bath.
Third place goes to Unit #PH2B at the Ritz-Carlton West End in the West End neighborhood. The three-level penthouse with three bedrooms, 2.5 baths and 3,146 square feet of living space listed at $3,250,000 and went under contract the same day, ultimately closing at full price later in the month. The new lucky owners will enjoy multiple private outdoor spaces, two fireplaces, a beautiful chef’s kitchen and more.
Unit #215 at Shoreham West in Woodley Park listed at $2,800,000 in May. The two-bedroom, 2.5 bath cooperative with a 2,850 square foot layout offers a very open and inviting floorplan with large living spaces flowing into one another. Honey toned hardwood floors, tray ceilings, a contemporary kitchen, a study and a large treetop balcony add to the considerable attraction for this building listed in James Goode’s Best Addresses.
In fifth place is Unit #103 at Alexander Hall in Georgetown. Priced at $2,199,000, the tri-level residence with three bedrooms, 2.5 baths and 2,640 square feet of living space is a rare availability in a historic 1909 building that was transformed into a boutique three-unit condominium. Sunlight abounds throughout with pale wide-plank floors, white-on-white motifs and marble counters. A big private brick patio adds another great touch. Sixth place goes to Unit #4 at The Southerland in Dupont Circle. The penthouse loft with three bedrooms and three baths, occupies the top two levels of a fully renovated row house building. With 2,315 square feet of living space and three-bedroom, this unique residence with its opened-up ceilings and stunning modern design feels straight out of an architectural magazine. Priced at $2,195,000, the listing is already under contract.