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August, 2021 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 were a whopping six sales at The Artisan in the Penn Quarter. Included is Unit #1113, a two-bedroom, one-bath flat that sold for $554,000. The contemporary 786 square-foot condo topped the August list-to-sales category after being bid up $54,000 to 110.80 percent of asking! CityCenterDC in Mount Vernon Triangle is next on the list with a very robust five closings. Two of the sales received additional honors, with Unit #810 at CityCenter nabbing the second-highest price per square foot at $958.85. The impressive apartment with 1,215 sq. ft. of living space sold at its full asking price of $1,165,000. The two-bedroom, 2.5-bath residence also has a private balcony. Also notable is Unit #305, which sold for the fifth-highest price for the month at $1,250,000. The corner apartment with two bedrooms, 2.5 baths and 1,375 square feet of living space is part of a vibrant live, work and play community with more than 40 upscale retailers and restaurants, spanning more than five city blocks. There were four sales in August at Madrigal Lofts in Mount Vernon Triangle. The luxury building with its onsite grocery and rooftop pool, is located right in the heart of all the Downtown action. Next up is the Ritz-Carlton West End in the West End neighborhood, and The Whitman in MVT, each with three sales. There’s two standout closings to note at the Ritz-Carlton. Unit #PH2E is a fabulous penthouse that captured the month’s highest sales price at $3,695,000; while Unit #5K captured the highest price in the size category. The renovated apartment with a 1,422 sq. feet of space sold for $1,450,000, translating to $1,019.69 per square foot. There were no fewer than five buildings with two closings each in August. They are: 1661 Crescent Place in Adams Morgan, 555 Mass and City Vista in Mount Vernon Triangle, The Columbia in the West End, and Union Row in the U Street Corridor. 1661 Crescent Place is home to two standouts: Unit #401 is the month’s third highest sale at $1.3 million, while Unit #203 with a closing price of $870,000, nabs the fourth-highest list-to-sales ratio at 102.47 percent of asking. There were two buildings with one sale each. 1745N is a combination of historic row houses and modern flats in Dupont Circle, while 2020 Lofts can be found in the trendy U Street Corridor. Also notable is the first sale at the historic Chinese Embassy in Dupont Circle since November 22, 2019. Unit #13 with two bedrooms, two baths and 1,173 square feet of living space sold for its full asking price of $874,500.
Highest Sales Prices
August produced some robust condo sales, capped by Unit #PH2E at the Ritz-Carlton West End in the West End neighborhood. The giant 4,008 square foot penthouse boasts a beautiful coffered ceiling, three bedrooms, 3.5 baths, a chef’s kitchen plus a catering kitchen, an office, a den with a bar and a media room, as well as three outdoor spaces. The price for all this was $3,695,000. Second place goes to Unit #313 at 1745N at Historic Row in Dupont Circle. The two-bedroom, 2.5-bath townhouse-style end unit has a bonus loft space, totaling 2,190 square feet across three levels. With rustic exposed white brick walls, a beautiful open kitchen and wide-plank premium hardwood flooring, this exquisite residence is part of a boutique community that combines vintage Victorian row houses with an additional new structure to the rear. The closing price of $1,999,900 also translates to the third-highest amount per square foot, at $913.20.
The third-highest sale for August is Unit #401 at 1661 Crescent Place in Adams Morgan. The three-bedroom, two-bath apartment with 2,450 square feet of space closed at $1,300,000. The new owners will get a renovated classic with a bonus library in one of Washington’s "Best Addresses," across from Meridian Hill Park. Fourth place goes to Unit #204 at Cooper Lewis in Logan Circle. The stunning two-level residence with two beds and 2.5 baths sold for $1,292,500 and comes with a 450 square foot private terrace. Cooper Lewis is an imaginative repurposing of the historic Pelz Building, originally constructed back in 1897. The structure was wrapped in a sleek new glass and steel skin while retaining original interior brick walls. Coming in fifth is Unit #305 at The Residences at CityCenterDC, in Downtown DC’s popular Mount Vernon Triangle. The spacious corner apartment with two beds and 2.5 baths sold for $1,250,000. Giant windows allow plenty of natural light into the residence, with a modern open Foster + Partners kitchen set unobtrusively into just one wall. Closing out this stellar grouping is Unit #506 at Somerset House in Chevy Chase. The two-bedroom, 2.5-bath apartment has a very roomy 2,023 square foot layout, as well as an extended balcony, cove ceilings and a glorious gourmet kitchen. The condo sold for $1,250,000, and is located within the exclusive gated Parc Somerset community.
Highest Sales Price to List Ratio
Topping the August list-to-sales ratio in Unit #1113 at the fabulous Artisan in Washington’s Penn Quarter. The two-bedroom, one-bath flat with 786 square feet of living space was listed at $500,000 but was bid all the way up to $554,000, or 110.80 percent of the original asking price. Gleaming hardwoods, an open gourmet kitchen and lots of natural light add to the contemporary apartment’s appeal. Second place goes to Unit #904 at Solo Piazza in Logan Circle. The 1,426 square-foot penthouse has soaring 12-foot ceilings, a massive wall of windows in the main living area, three bedrooms, two baths and a delightful outdoor terrace. Listed at $1,160,000, the alluring residence with stunning views, wound up selling for $1,230,000. That 106.04 percent difference makes for a sweet $70K bonus for the seller.
In third place is an exclusive Life At The Top listing. Unit #633 at The Columbia in the West End was on the market for just three days before going under contract. Originally listed at $699,500, the sunny one-bedroom, one-bath residence with a bonus loft den, wound up closing at $725,000, equaling 103.65 percent of its asking price. Among the features is a 210-square foot private terrace plus an additional balcony. Fourth place goes to Unit #203 at 1661 Crescent Place, a grand old “Best Addresses” building in Adams Morgan. The impeccably renovated two-bedroom, 2.5-bath apartment with an office area, was priced at $849,000 before selling for $870,000, or 102.47 percent. Gorgeous original oak floors and charming Old World details merge with modern luxury in this impressive apartment.
Capturing fifth place is Unit #313 at Adams Row in Adams Morgan. The two-bedroom, two-bath condo with 704 sq. feet of living space and exposed overhead ductwork listed for $529,000 and sold for $540,000 (102.08 percent). Closing out the category is Unit #3 at the Bryan School Lofts on Capitol Hill. The beautiful two-bedroom, one-bath corner loft with 1,249 square feet of living space has soaring ceilings, exposed brick walls and numerous original architectural details from its former life as a school. After listing for $679,000, the unit sold for $689,000, equaling 101.47 percent.
Highest Prices Per Square Foot
Leading the highest price per square foot category in August is Unit #5K at The Ritz-Carlton West End, located quite naturally, in the West End neighborhood. The two-bedroom, two-bath residence has 1,422 square feet of living space, and sold at full price for $1,450,000. That translates to a very sturdy $1,019.69 per sq. ft. for the sunny and recently renovated flat with lovely south garden views. Pale blonde hardwoods, a gourmet kitchen and a very spacious private terrace add to the appeal. Second place goes to Unit #810 at CityCenterDC. This stunning apartment with a layout of 1,215 sq. ft. sold for its full asking price of $1,165,000. That translates to $958.85 per square foot. The new owners also get lovely wide-plank pale oak floors, giant window walls, a built-in desk cubby and a very modern glossy white Foster + Partners Euro-style kitchen.
Unit #313 at 1745N at Historic Row in Dupont Circle claims the third-highest price per size ratio at $913.20 per sq. ft. The two-bedroom, 2.5-bath townhouse-style residence with a third-level loft and 2,190 square feet of living space also captured the second-highest sales price for the month at $1,999,900. Unit #209 at 525 Water Street in the Southwest Waterfront nabs third place. The light-filled one-bedroom with high ceilings and 565 square feet of interior space, sold for $505,000, translating to $893.81. There’s also lots of custom upgrades plus a spacious private terrace. The location is also key, steps from The Wharf with all its shops, restaurants and other waterfront attractions.
Fifth place goes to Unit #204 at Cooper Lewis in Logan Circle. The two-level residence with two bedrooms, 2.5 baths and 1,450 square feet of living space was also the fourth-highest sales price at $1,292,500, equaling $891.38 per sq. ft. Bonus points for the 450 square foot private terrace! Closing out the category is Unit #711 at the iconic Yale Steam Laundry in Mount Vernon Triangle. The junior one-bedroom maximizes its 429 square feet of space with huge windows, an upgraded open gourmet kitchen and a bedroom area with a sliding door and custom closet. It even includes parking and extra storage! The $378,000 sale translates to $881.12 per square ft.
August, 2021 Highest Price New Listings
Summer is coming to a close in Washington but the real estate market continues to cook. Topping the list of highest priced new offerings in August is Unit #1105/6 at the iconic Watergate in Foggy Bottom. The 3,000 square foot residence already has a price decrease from $5,295,000 down to $4,495,000. The ultra-spacious three-bedroom, 2.5-bath apartment has been remodeled from the studs out by the award-winning architects at Studio 3877 and BOWA builders. Features include two offices, an incredible chef’s kitchen, laundry room, a mudroom with service entrance, and a giant wraparound private terrace with the most stunning views of the Potomac River imaginable! Second place goes to Unit #73 at the modernistic Westlight in the West End neighborhood. Offered at $3,995,000, the 2,857 sq. ft. flat has three bedrooms and 3.5 baths, with huge uninterrupted window walls spanning the open living area. Every bit is clean, cultivated and stylish. It’s back to the Watergate for third place, with Unit #502 featuring four bedrooms, 3.5 baths and 3,678 square feet of living space for $3,799,900. The extra-large layout is the result of combining two apartments through a careful and thoughtful design by architect Robert Gurney. Full-height sections of oak wood-paneling in both natural and white finishes create an ambience that is both subtle and memorable. A huge wraparound terrace offers treetop views of the river. The back-and-forth competition resumes with Unit #23 at the Westlight taking fourth place honors. Listed at $3,615,000, the 3,031 square foot designer model has already gone under contract. There are three bedrooms, a library and three full baths with the palest of pale wood floors, an open white-on-white Euro-style kitchen, and massive window walls. Unit #903 at Somerset House in Chevy Chase takes fifth place with a $2,999,990 price tag. The three-bedroom, 2.5-bath upper floor residence has both herringbone hardwoods and plush carpet, with an extra-large gourmet kitchen and lavish spa baths. The gated country club-style Parc Somerset community covers 17 acres of lush, manicured grounds. Sixth place goes to Unit #2 at MuSoLit Residences in Logan Circle. The four-bedroom townhouse with 3,070 sq. ft. of living space has four full and two half baths, and occupies the top two stories of a historic row house that was originally built in the 1891 with a design from noted DC architect Thomas Franklin Schneider. It has now been transformed into delightful combination of traditional and modern, and is already under contract.