Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top
July, 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 legendary Watergate in Foggy Bottom led the way in sales in July, with five closings. The range was quite wide, from a spacious one-bedroom flat that sold for $332,500 to a two-level penthouse that closed at $1,500,000. The latter, Unit #1502/03 is a combination of two apartments, resulting in 3,350 square feet of living space with two bedrooms, three full baths, a family room with marble surround fireplace, and two loft areas, each leading up to individual rooftop terraces.
There were three buildings with three sales each: 525 Water at the new Wharf development in the Southwest Waterfront neighborhood, 555 Mass in Mount Vernon Triangle, and Union Row in the U Street Corridor. Unit #410 at 525 Water had the sixth highest price per square foot in July at $892.68 per square foot. The two-story penthouse with two bedrooms, two baths and 958 square feet of space, has two balconies at the main level as well as a private rooftop terrace with views of the water and docks. The final closing price was $950,000. The three sales at 555 Mass ranged from $460,000 to $694,000 while the closings at Union Row were from $590,000 to $1,230,000. The top sale at Union Row was Unit #325, closing at its full asking price with three bedrooms, 2.5 baths and 1,497 sq. ft. of space.
There were five buildings with two sales each: 2020 Lofts in the U Street Corridor, City Center in Mount Vernon Triangle, Clara Barton and The Artisan which are both in Penn Quarter, Muse in Old Town Alexandria, and The Darcy in Bethesda. Of this group, Unit #PH8 at The Darcy had the second highest sale for the month at $2,995,000, Unit #209 at Muse in Old Town had the third highest closing at $1,750,000, and Unit #611 at City Center had the sixth highest sale at $1,525,000. Closing out the category is one sale each at the always popular Wooster & Mercer Lofts in Rosslyn, and eNvy at the rapidly transforming Navy Yard neighborhood in Washington.
Highest Sales Prices
Unit #63 at Westlight in the West End neighborhood was the highest sales price as well as the highest price per square foot in July. The 2,515 square foot corner apartment has three bedrooms and 3.5 baths, and sold for $3,380,000, translating to $1,343.94 per square foot. With uninterrupted wraparound window walls and a chic white-on-white ambience, this residence is the height of minimalist style. Unit #PH8 at The Darcy in Bethesda is another double honoree, nabbing second place in the highest sales price contest at $2,995,000 plus second in the price per square foot category at $1,112.97. The three-bedroom penthouse with 2.5 baths and 2,691 square feet of contemporary living space has lots of extra perks, including a second full catering kitchen with a wine refrigerator for 146 bottles, as well as stairs leading up to a second bar and a private rooftop deck.
The third highest sale was also the fourth highest price per square foot, with Unit #209 at Muse in Old Town Alexandria selling for $1,750,000 or $939.35 per sq. foot. The two-bedroom flat with 2.5 baths and 1,863 square feet of space is part of a building that is intrinsically linked with Old Town’s arts corridor. Fourth place goes to Unit #704 at the brand-new Monarch in McLean. This luxury tower with resort-style amenities is located in a fast-evolving area where McLean and Tyson’s Corner come together. The 1,900 square-foot new construction condo with two bedrooms and 2.5 baths sold for $1,686,860 and includes an extended private terrace. Building amenities include a huge lobby with 24/7 staff and concierge, an obliging resident services program, a modern fitness center, giant swimming pool, a clubroom with catering kitchen, lovely gardens, and more.
Unit #302 at Cooper Lewis in Logan Circle takes fifth place with a closing price of $1,625,000. The two-bedroom, 2.5-bath corner condo with 1,863 square feet of living space has floor-to-ceiling window walls wrapping around the living and dining areas and overlooking the exciting 14th Street corridor with its top shops and restaurants. Closing out this list is Unit #611 at City Center in Mount Vernon Triangle. Not only was this two-bedroom, two-bath condo with 1,452 square feet of space the sixth highest sale at $1,525,000, it was also the third highest price per square foot at $1,050.28.
Highest Sales Price to List Ratio
There was a clearcut winner in the list to sales ratio category in July. Unit #1112 at Lionsgate in Bethesda listed for $1,195,000 but was bid up to $1,350,000 equaling 112.97 percent of asking. The two-bedroom condo with two baths and a 1,677 square foot layout also has a library/den, and a beautiful, open gourmet kitchen with a full-height quilted metal tile backsplash. Second place goes to Unit #403 at the grand old Kalorama building in the neighborhood by the same name. The 1,500 square foot residence with its lovely millwork and ceiling details originally listed for $1,295,000 and ultimately closed at $1,350,000 (103.93 percent). The two-bedroom condo with two baths and two balconies also had the fifth highest price per square foot at $900.
Unit #513 at 2020 Lofts in the U Street Corridor nabs third place, listing at $795,000 and selling for $819,000 (103.02 percent). The two-bedroom, two-bath corner condo is nice and open with hardwood floors, exposed ductwork, and a terrific terrace providing cityscape views. Fourth place goes to Unit #305 at the super-hip Kalorama Lofts in the Adams Morgan neighborhood. With two bedrooms, two baths, and 1,122 square feet of airy living space, the loft condo with its soaring ceilings, partial walls, exposed ductwork, and a cute balcony sold for $735,000 after listing for $715,000. That’s a nifty $20K over asking, or 102.80 percent.
Unit #308 at Logan Station in Logan Circle sold for 100 percent of its $1 million asking price. The two-bedroom, two-bath duplex penthouse has 1,359 square feet of interior space spread out over two stories, with a terrific open chef’s kitchen at the main level and a rooftop level terrace off the upstairs bedroom. Closing out the category is another full price transaction. Unit #801 at the popular City Center mixed-use community in Mount Vernon Triangle sold for $875,000. The one-bedroom, one-bath flat has a sunny and open main living, dining, and cooking area with a wraparound wall of full-height windows and a Euro-style kitchen tucked neatly into a single wall.
Highest Prices Per Square Foot
Taking top honors in July’s price per square foot category as well as the top overall sales price was Unit #63 at the very modern Westlight in the West End. The three-bedroom, 3.5-bath apartment with 2,515 square feet of airy living space sold for $3,380,000 which equals $1,343.94 per square foot. The building was designed by Enrique Norten, with features such as DC’s only 25-meter heated rooftop swimming pool. Unit #PH8 at The Darcy in Bethesda scored the second highest price per square foot at $1,112.97 plus the second highest overall sales price at $2,995,000. The three-bedroom penthouse offers 2,691 square feet of luxurious living space as well as an upstairs bar and lounge with doors opening out to a private rooftop terrace.
Third place in the price per square foot contest goes to Unit #611 at City Center in Mount Vernon Triangle. The 1,452 square foot flat with walls of windows and an open layout sold for $1,525,000 or $1,050.28 per square foot. The sunny residence also nabbed the sixth highest overall sales figure. Continuing the trend of condos with highlights in two different lists is Unit #209 at Muse in Old Town Alexandria. The two-bedroom, 2.5-bath residence with 1,863 square feet of living space has the month’s third highest sale at $1,750,000 and the fourth highest price per sq. ft. at $939.35.
Unit #403 at The Kalorama in the Kalorama neighborhood takes fifth place at $900.00 per square foot. The elegant 1,500 square foot apartment with two bedrooms, two baths and two balconies sold for $1,350,000, which is the second highest sales to list ratio at 103.93 percent. Garage parking is included, a rare bonus for a building that is more than a century old. Closing things out is Unit #410 at 525 Water in the Southwest Waterfront. The two-story penthouse with 958 square feet is part of the vibrant new Wharf development and enjoys two balconies at the main level plus a private rooftop terrace with views of the Washington Channel. The sales price of $950,000 translates to $892.68 per square foot.
July 2023 Highest Price New Listings
Leading the way with new listings in July is Unit #2901 at The Waterview in Arlington’s Rosslyn waterfront neighborhood. Offered at $6,950,000, this spectacular penthouse was built by Peterson & Collins and designed by Rina Yan, transforming two residences into one 4,600 square oasis with three bedrooms, three full baths, two powder rooms, and exposures on three sides offering panoramic views of the Potomac River and all the way across to Georgetown. Second place goes to another waterfront two-in-one residence, with Unit #902/903 at the legendary Watergate in Foggy Bottom priced at $3,995,000. The 3,170 square foot apartment with two bedrooms, 2.5 baths, a den, a sitting room, and a huge living room area with wraparound windows is the result of combining side-by-side units. A sweeping balcony offers sublime views of the Potomac River.
Unit #1301 at the brand-new Pierce in Rosslyn takes third place with a list price of $2,468,000. The three-bedroom, 2.5-bath flat has 2,411 square feet of modern living space and direct elevator access. Unit #One-I at the historic Tilden Gardens in North Cleveland Park is offered at $2,350,000. The extra-spacious co-op is a shining example of vintage grandeur with four bedrooms, 3,600 square feet of living space, coffered ceilings, and a private outdoor brick patio.
It's back to the resort-style Pierce condominium in Rosslyn for our fifth-place entry with Unit #2502 priced at $2,180,000. The upper-level, new construction apartment with two bedrooms, a den, and 1,690 square feet of space also features two outdoor balconies with river views. Closing out our list is Unit #801/802 at The Zenith in Logan Circle. With an asking price of #2,100,000, this three-bedroom, three-bath penthouse residence with a 2,000 square foot layout enjoys private elevator access, grand hallways, gorgeous hardwood floors, and a stunning showcase gourmet kitchen with marble counters and island.