May Market Leaders

Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top

Look here every month for fresh stats behind the most important sales. Discover where the most units sold, what properties fetched the highest price per square foot and what buildings set the record for the highest sales.

Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top

May, 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

Leading the way in sales volume with a sturdy four closings in May is The Bower, a new luxury condominium with a very modern exterior in The Yards community. Developed by P.N. Hoffman, the 10-story structure is part of the exciting waterfront resurgence in the Navy Yard area, with a roof deck offering stunning vistas of the region. Among the four sales is Unit #608 with two bedrooms, two baths, a private balcony overlooking the Anacostia River, and a closing price of $875,000. There were three sales each at Somerset House in Chevy Chase, CityCenterDC, the historic Yale Steam Laundry in Mount Vernon Triangle, and The Odyssey as well as Turnberry Tower in Rosslyn.

Among this grouping of five is the highest sales price for a condo in May. Unit #1403 at Somerset House in the gated Parc Somerset community closed at $3,600,000. The very spacious apartment with three bedrooms, 4.5 baths, and 5,086 square feet of living space, features a massive living room, a formal dining room, a wood paneled library, a family room, a gorgeous kitchen and two covered balconies. Also notable is Unit #1711 at Turnberry Tower. The three-bedroom, 2.5-bath residence with views of the Potomac River had the fifth-highest list to sales ratio, selling for $2,100,000 after listing for $1,995,000. That translates to 105.26 percent of asking.

Finally, there were six buildings in the Washington Metro area with six sales each. Three were in the Mount Vernon Triangle neighborhood: 555 Mass, City Vista, and Madrigal Lofts. The list also includes Gallery Place in Chinatown, Atrium in Rosslyn, and the new Muse in Old Town Alexandria. Of these, Unit #605 at Muse gets a special nod, as it had the highest list to sales ratio for the month. The roomy one-bedroom, two-bath condo with a den and 1,220 square feet of living space listed for $1,176,000 as a new construction unit before being bid up to $1,258,000 or 107.1 percent of the original asking price. The recently completed new development in Old Town North was conceived as “artful living,” and is the new home to The Art League as well as the new Metro Stage Theatre.

Highest Sales Prices

Topping the highest sales price category in May is Unit #1403 at Somerset House, located within the 17-acre gated Parc Somerset community. The three-bedroom, 4.5-bath apartment with 5,086 square feet of living space sold for $3,600,000. Features include a grand entry hall lined with pillars, a wood-paneled library, a huge living area with fireplace, walls of windows, a family room, a showcase kitchen and two large, covered balconies. One of Georgetown’s most coveted addresses, 3303 Water Street, is home to May’s second-highest sale as well as the top price per square foot. Unit #3F with two bedrooms, a den, 2.5 baths and 1,972 square feet of space sold for $3,450,000 ($1,749.49 per sq. ft.) and recently received a full redesign makeover. Also noteworthy are the enormous window walls, an exquisite open modern kitchen with Boffi cabinetry, gorgeous Italian designer bathrooms, and a stunning private garden with planter beds, irrigation, brick, stone and slate.

Unit #905 at Ventana in Penn Quarter secured the third-highest sales price as well as the second-highest list to sales ratio, selling for $3,220,330 or 106.68 percent pf asking. The two-story residence is the result of combining two separate apartments into one glorious 4,400 square foot penthouse with five bedrooms, and 4.5 baths. The primary suite takes up an entire level, there’s also a private roof deck. Fourth place goes to Unit #709 at the legendary Watergate in Foggy Bottom. The 2,750 square foot cooperative sold for $2,850,000, with two combined apartments and a total makeover from designer Victor Shargai. The main living area is massive, with beautiful rift-sawn floors and giant windows. Completing the picture is a modern white-on-white kitchen, two bedrooms, 2.5 baths and extended balconies gazing over the Potomac River.

In fifth place is Unit #1901 at the new Pierce condominium in Arlington’s Rosslyn neighborhood. The two-bedroom, two-bath flat with 2,289 sq. ft. of space sold for $2,750,000 and nabbed third place in the price per sq. ft. category at $1,201.40. Additional features include direct access elevator, den, and corner terrace. Our final entry is Unit #401 at 525 Water Street in Georgetown. The three-bedroom, three-bath residence is the largest in the building, with two levels of living space and soaring two-story window walls directly overlooking the Potomac River and boat slips. The closing price was $2,175,000 for this fabulous waterfront home.

Highest Sales Price to List Ratio

The winner of the highest list to sales price category in May belongs to Unit #605 at Muse in Old Town Alexandria. This is a new mixed-use condo community that is an integral part of the city’s Arts Corridor, with offices for The Art League as well as the new Metro Stage Theatre, and an open-air Arts Walk. The new construction one-bedroom, two-bath apartment with a den has 1,220 square feet of living space, hardwood floors and a panelized open gourmet kitchen, and sold for $1,258,000 after listing for $1,176,000. That equals 107.1 percent of the original asking price. Second place goes to Unit #905 at The Ventana in Penn Quarter. The two-level “townhouse in the sky” sold for $3,220,330 or 106.68 percent of asking. The 4,400 square foot residence with five bedrooms, 4.5 baths and a private roof deck captures additional honors as the third-highest sales price for a condo or cooperative in May.

Third place goes to Unit #106 at The Floridian in the U Street Corridor. The one-bedroom, one-bath loft-style apartment with a bonus den, exposed concrete ceilings and blonde hardwood floors, listed at $449,000 before selling for $475,000 (105.79 percent). Coming in a close fourth at 105.63 percent is Unit #503 at eNvy, a new luxury building in the rapidly evolving Navy Yard neighborhood. The new construction flat with two bedrooms, two baths, 1,104 square feet of living space, an open kitchen, and gray-hued hardwood floors, sold for $844,900 after listing for $799,900.

Next up is Unit #1711 at Turnberry Tower in the Rosslyn waterfront community. The three-bedroom, 2.5-bath residence has 2,229 square feet of luxurious living space, along with a private elevator, marble floors, an extended balcony, and views of the Potomac River. The apartment listed for $1,995,000 and closed at $2,100,000 (105.26 percent). Our final honoree in the list to sales category is also located in Arlington’s Rosslyn neighborhood. Unit #301 at The Odyssey is a tidy flat with one bedroom, one bath and a 579 square foot layout. The competitively priced unit with a combination of hardwood and carpeted floors, listed for $350,000 and received an accepted over-asking offer of $368,000 just a few days later. That translates to 105.14 percent.

Highest Prices Per Square Foot

Leading the way in the highest price per square foot category, and also taking second place for the highest sale, is Unit #3F at 3303 Water Street in Georgetown. The 1,972 square foot apartment sold for $3,450,000, translating to $1,749.49 per sq. foot. The beautifully redesigned residence offers two bedrooms, 2.5 baths, and a unique den with floor to ceiling windows and built-ins. An enormous main living area with wraparound window walls invites the outside into the home. Other features include a showcase kitchen and Italian baths, and a private garden patio with planter beds and irrigation. Second place goes to Unit #PH105 at the highly modern Westlight with its staggered glass façade in the West End neighborhood. The two-bedroom, two-bath penthouse with 1,423 square feet of space, sold for $1,855,000 or $1,303.58 per sq. ft. The layout is airy and minimalist, with uninterrupted expanses of windows, and a completely open Euro-style gourmet kitchen featuring glossy white panelized cabinetry and barely noticeable appliances.

Coming in third is Unit #1901 at the new Pierce condo community in the Rosslyn neighborhood. The 2,289 square foot apartment with direct elevator access, two bedrooms, two baths, a den, and a large corner terrace, was also the fifth highest sales price at $2,750,000 ($1,201.40). Fourth place goes to Unit #505 at 2501 M in the West End community. The closing price of $1,275,000 equals $1,163.32 per square foot for the two-bedroom, two-bath residence with 1,096 sq. ft. of light-filled living space.

Capturing fifth place is Unit #604 at Q 14 in Logan Circle. The two-story loft with two bedrooms, two baths and 1,435 sq. ft. of space sold for $1,578,000 or $1,099.65 per square foot. A towering two-story living area with windows to match, as well as a sublime open kitchen and private outdoor terrace, make this a standout urban home. Rounding out the group is Unit #506 at the luxurious new VIO at the exciting Wharf in DC’s Southwest Waterfront. The two-bedroom, two-bath apartment with a 1,670 sq. ft. floorplan sold for $1,800,000 or $1,077.84 per square foot. Among the features is a private outdoor terrace overlooking the swimming pool and lounge, as well as the Washington Channel and boat slips!

May, 2022 Highest Price New Listings

Topping the highest priced new condo listings in May is Unit #PH1215E at Towers Condominium in the Cathedral Heights neighborhood. The six-bedroom penthouse with 6.5 baths and 9,450 square feet of living space spread out over two levels, is offered at $5,999,999. Soaring ceilings include cove, tray, and coffered detailing, while floors are a combination of marble, wood inlay, and carpet. From sweeping stairways to Art Deco accents and a giant roof-level terrace overlooking Glover Archbold Park, this iconic mid-century residence was the personal home of noted developer and philanthropist Melvin Gelman. Second place goes to Unit #7D at the legendary Wardman Tower, listed for $4,750,000. The three-bedroom, 3.5-bath apartment has 4,648 sq. ft. of space including a stunning library with fireplace and wet bar, and a huge open living and dining area with windows wrapping around two sides. Beautiful herringbone floors, multiple balconies, and an incredible eat-in kitchen with Henrybuilt custom cabinetry, Thermador appliances, and Pendalquartz counters help complete the picture.

Coming in third is Unit #1507 at The Odyssey in Rosslyn. Listed at $2,995,000, the three-bedroom, 3.5-bath penthouse with walls of windows throughout, has a spacious 3,180 square foot layout. Blonde hardwoods, a fabulous open gourmet kitchen and a long private balcony add to the allure. Unit #508 at 1745N in DC’s Dupont Circle is next up with a $2,875,000 price tag. The three-bedroom, 3.5-bath penthouse with 2,449 sq. ft. of space is part of the Historic Row development, melding vintage rowhouses with new condo construction. Modern style, wide-plank floors, and vintage exposed brick accents, come together beautifully at this open and airy residence with two parking spaces thrown in for good measure.

Unit #1503 at Somerset House in Chevy Chase takes fifth place at $2,695,000. The two-bedroom, 2.5-bath apartment with a 3,021 square foot floorplan and a refined modern interior makeover from Ella Scott Design is now under contract. Closing out this group is Unit #2004 at the always popular Turnberry Tower in Rosslyn. Offered at $2,635,000, the spectacular penthouse comes with a private elevator, Brazilian hardwood floors, two primary suites, an additional third bedroom/den, two parking spaces, giant window walls, and an expansive private terrace featuring the most sublime views of the Potomac River.

 

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