Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top
August, 2023 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
The iconic Watergate in Foggy Bottom led the way with five sales in August, with price points from $495,000 up to $2,200,000. Unit #920 was the top closing at the venerable address for the month, with three bedrooms, 3.5 baths, and a den/home office. Beautifully remodeled with an open floorplan and a gourmet kitchen with Italian quartz counters, this spacious coop also boasts a private terrace with Potomac River views. There were two buildings with four sales each: Monarch in Tysons, and 555 Mass in Mount Vernon Triangle. Unit #2002 with three bedrooms and 3.5 baths at the brand new Monarch is a true standout, capturing the top sales price in August at $3,887,772 as well as the second highest list to sales ratio at 103.78 percent. Unit #1203 at 555 Mass captured the fifth highest list to sales ratio at $699,000 or 100.58 percent of the original asking price.
Two buildings had three sales each: City Center, and Madrigal Lofts, both of which are in the Mount Vernon Triangle neighborhood. Unit #911 at City Center with two bedrooms, 2.5 baths, and 1,452 square feet of living space sold for $1,475,000, which is the sixth highest price per square foot for the month at $1,015.84. There were six buildings with two sales each: Gallery Place in Chinatown, the Bower in the Navy Yard, The Lafayette in Penn Quarter, >Odyssey in Rosslyn, Waterview in Rosslyn, and Signet in McLean.
Of this grouping, Unit #500 at Signet had the fourth highest sales price in August at $2,150,000, while Unit #407 at the Bower had the top list to sales ratio, selling for $563,000 or 106.05 percent of asking, with Unit #110 at the Odyssey grabbing the fourth highest list to sales price at $460,000 or 102.24 percent of list. Finally, there were two buildings with one sale each: The Ritz-Carlton West End in the West End neighborhood, and Wooster and Mercer Lofts in Rosslyn. Unit #PH3N at the Ritz-Carlton had the fifth highest sale of the month, with the three-level penthouse closing at $2 million. The unique triplex has two bedrooms, 2.5 baths, a showcase kitchen, dining, and living level, and multiple private outdoor spaces including a rooftop terrace. Unit #502 at Wooster and Mercer sold for $1,200,000. The 1,691 square foot residence has two bedrooms, two baths, and massive factory style windows.
Highest Sales Prices
Leading the way for sales prices in August is Unit #2002 at Monarch in Tysons. The three-bedroom condo with 3.5 baths sold for $3,887,772. That amount was also the second highest list to sales ratio at 103.78 percent and comes after Monarch actually delisted and raised the price on this premiere new construction unit. The 3,390 square foot residence has direct elevator access and a private terrace. Monarch offers full service luxury amenities, with 24/7 concierge, porter service, state-of-the-art fitness and yoga, a swimming pool, and even a butterfly garden. Second place goes to another new building, with Unit #2601 at Pierce in Rosslyn selling for $3,800,000. The three-bedroom, 2.5-bath penthouse with a 2,564 square foot floorplan also captured the top price per square foot at $1,482.06.
Unit #920 at the legendary Watergate in Foggy Bottom nabs the third highest closing at $2,200,000. The newly renovated cooperative apartment boasts three bedrooms, 3.5 baths, a clean and modern look, and eye-popping views of the Potomac River from huge window walls as well as the extended balcony. Fourth place goes to Unit #500 at Signet in McLean’s downtown area. The three-bedroom, 3.5-bath condo with a very spacious 3,182 square foot layout also comes with three parking spaces and sold for $2,150,000.
Unit #PH3N at the Ritz-Carlton West End in the West End neighborhood comes home in fifth place with its $2 million closing. This unique penthouse triplex has bedrooms on one level, main living spaces and kitchen on another, and recreation and entertainment spaces at the top. There are private spaces at each of the three levels, including a rooftop terrace. Closing out the list is Unit #601 at Cooper Lewis in Logan Circle. The chic penthouse with 1,480 square feet of living space sold for $1,800,000, which also translates to the second highest price for square foot at $1,216.22 and the sixth highest list to sales ratio at 100 percent. Among the many features is one of the highest and largest private rooftop terraces in the area measuring nearly 700 square feet and offering fantastic panoramic city vistas. It’s the ultimate place for July 4 barbeques and view parties, as the nation’s capital celebrates with stunning fireworks displays.
Highest Sales Price to List Ratio
Unit #406 at the new Bower condominium in the Navy Yard neighborhood captured the top list to sales ratio for August. The one-bedroom, one-bath flat makes the most of its 625-foot layout, with a completely open kitchen, wood floors, large windows, and a private outdoor terrace. The condo listed for $530,900 before selling for $563,000 or 106.05 percent of the asking price. Second place goes to Unit #2002 at the new Monarch luxury tower in Tysons on the McLean border. The three-bedroom condo with 3.5 baths and 3,390 square feet of living space listed for $3,396,000 and then actually increased its asking price before selling for $3,887,772. This was the highest condo sale in August and the second highest list to ratio at 103.78 percent. That quotient would be even higher if applied to the original list price.
Coming in a close third is Unit #101 at the Beauregard in the U Street Corridor. The modern two-bedroom, two-bath condo with 1,250 sq. feet of space closed at $731,500 after listing for $710,000, equaling 103.03 percent of asking. The sunny and airy residence boasts huge wraparound window walls, and a fantastic location close to restaurants and live entertainment. Unit #110 at the perennially popular Odyssey in Arlington’s Rosslyn neighborhood had a very competitive list price of $449,900 before selling for $460,000 (102.24 percent). The one-bedroom flat has a wall of floor-to-ceiling windows as well as a spacious private terrace with plenty of room to dine outside on warm nights.
Unit #1203 at 555 Mass in DC’s Mount Vernon Triangle takes fifth place honors, listing for $695,000 and selling for $699,000 (100.58 percent). The stylish urban retreat has two bedrooms, two baths, 929 square feet of living space, and eye-popping views of the National Monument. Closing out this category is a triple honoree. Unit #1601 at Cooper Lewis in Logan Circle is a stunning penthouse that had the sixth highest sales price for the month at $1,800,000, the second highest price per square foot at $1,216.22, and the sixth highest list to sales ratio at 100.00 percent. With two bedrooms, two baths and 1,480 square feet of chic living space spread out over two levels, this beautiful residence with its towering windows and floating metal stairs, also features a huge private rooftop deck with panoramic views of the city.
Highest Prices Per Square Foot
Taking the top price per square foot honors as well as the second highest overall sales price in August, Unit #2601 at the new Pierce luxury tower in Rosslyn offers a posh 2,564 sq. foot layout and sold for $3,800,000 or $1,482.06 per square foot. The three-bedroom, 2.5-bath duplex penthouse with soaring 10-foot ceilings is accessible via private elevator, and also features an upper level office that leads out to a large, wraparound private terrace. Unit #601 at Cooper Lewis in Logan Circle is another multiple honoree, nabbing second place in the price per square foot category at $1,216.22, and sixth place in the list to sale ratio at 100 percent. The penthouse apartment with 1,480 square feet of interior space sold for $1,800,000 and also features a huge rooftop terrace that adds nearly 700 square feet of outdoor space, perfect for dining and hosting parties.
Unit #2002 at the new Monarch condominium in Tysons captured third price in the price per size list at $1,146.84 per square foot, first place in the overall sales price at $3,887,772, and second place in the list to sales contest at 103.78 percent. The three-bedroom, 3.5-bath residence enjoys 3,390 square feet of luxurious living space along with direct elevator access and a private terrace. Unit #406 at the new Amaris tower at the Wharf in the Southwest Waterfront takes home fourth place in the price per square foot category at $1,037.14. The stylish two-bedroom, 2.5-bath apartment has a spacious 1,330 square foot floorplan which is complemented by a 550 square foot private terrace.
Fifth place goes to Unit #507 at the very contemporary 2501 M in the West End neighborhood. The 1,215 square foot condo with two bedrooms, two baths, an open layout, true floor-to-ceiling windows, and a private balcony, sold for $1,240,000 or $1,020.58 per square foot. Our final honoree in this category is Unit #911 at City Center in the downtown Mount Vernon Triangle. The modern two-bedroom flat with 2.5 baths and 1,452 square feet of living space, sold for $1,475,000 or $1,015.84 per square foot. The layout is sunny and open, with giant wraparound windows, an extended balcony, pale oak floors, and a stylish Foster + Partners gourmet kitchen with panelized appliances that fits seamlessly along a single wall.
August 2023 Highest Price New Listings
The highest priced new listings in August were tightly bunched together, led by Unit #PH101 at the very modern Westlight building in the West End neighborhood. Listed at $4,500,000, this airy penthouse with three bedrooms, three baths, and 2,684 square feet of space has minimalist white-on-white finishes and massive windows featuring glorious southwest views, all adding up to an uncluttered yet luxurious lifestyle experience. Coming in a close second in price is Unit #PH, the lone and quite exceptional penthouse residence at 1314 Vermont Avenue NW in Logan Circle. Offered at $4,300,000, this multistory home in a lovely Victorian rowhouse boasts five bedrooms, five baths, and 4,375 square feet of elegant yet contemporary living space. From the soaring 11-foot ceilings to incredible herringbone floors, the three-story home with its own elevator also has multiple private outdoor spaces including a roof deck.
Third place goes to Unit #1404 at the legendary Watergate in Foggy Bottom. With three bedrooms, 2.5 baths and a 3,009 square foot layout, the mid century modern coop is listed at $3,995,000. A revamped gourmet kitchen, and a sweeping 120 foot balcony that stares straight up the Potomac River help make this a true showcase apartment. Unit #2601 at the brand new Pierce condominium in Arlington’s Rosslyn neighborhood was listed at $3,800,000 and has already sold. The three-bedroom condo with 2.5 baths and a 2,564 square foot floorplan is part of a new resort style community that has garnered much interest and sales activity in recent months, with full service amenities and a fantastic location.
Fifth place goes to Unit #101 at Amaris in the Southwest Waterfront neighborhood. The recently finished Amaris with its unique twisting façade is part of the Wharf development, just steps from the Washington Channel. Priced at $2,700,000, this two-bedroom, 2.5-bath condo with 2,590 square feet of interior space features huge window walls on three sides, along with two balconies, and incredible vistas of the river. Closing out this category is another new building, with Unit #401 at the Ritz-Carlton Chevy Chase. Listed at $2,331,900, the new construction condo apartment with two bedrooms, 2.5 baths and 2,200 square feet of living space has already sold for its full asking price. This Chevy Chase building is now the third Ritz-Carlton condominium in the Washington Metro area, the others being the Ritz-Carlton West End, and the Ritz-Carlton Georgetown.