Nobody has their finger on the pulse of DC Luxury Condo Sales like Life At The Top
May, 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 venerable Watergate in Washington’s Foggy Bottom neighborhood ked the way in sales in May with an astounding five transactions. The activity has not been a fluke, as the mid-century modern complex had two sales in April and four in March. Located on the banks of the Potomac River, this famous compound includes three cooperative residential buildings, along with a hotel, an array of shops, a post office, and multiple swimming pools. May’s closings included Unit #1209-S with three bedrooms, 3.5 baths and 3,650 square feet of living space. The elegant apartment with its corner exposures, two balconies, and stunning views, was the month’s fourth-highest sale at $2,735,000.
There were five buildings with three sales each: 555 Mass in Mount Vernon Triangle, CityCenter DC (also in MVT), the new Verse tower in Tysons, Waterview in Rosslyn, and Westlight in Washington’s West End. There are additional standouts from this grouping. Unit #PH101 at Westlight had the third-highest sales price at $4,450,000 as well as the second-highest price per square foot at $1,524.49. The three-bedroom, 3.5-bath apartment has 2,919 square feet of sunny living space with giant floor to ceiling windows. Unit #2101 at Waterview had the third-highest list to sales ratio, closing at $800,000 or 102.56 percent of asking, while Unit #2406 in the same building had the fifth-highest price per square foot, selling for $1,625,000 or $1,524.49 per sq. foot.
There were no fewer than six building with two sales each during the busy month of May. They include City Vista in Mount Vernon Triangle, Muse in Old Town Alexandria, Pierce in Rosslyn, Somerset House in Chevy Chase, The Bower in the Navy Yard, and The Floridian in the U Street Corridor. Unit #1205 at Somerset House inside the gated Parc Somerset country club-style community captured the second highest closing for May at an impressive $4,750,000. The 4,550 square foot residence was designed entirely by Thomas Pheasant and was only on the market for one day before receiving a full-priced offer. Unit #D2 at the brand new Pierce building was the sixth-highest closing for the month at $1,748,000. The modern two-bedroom flat with 2,022 square feet of stylish living space is part of a new luxury resort-style mixed-use community that is steps away from top restaurants and shopping.
Highest Sales Prices
Topping the highest sales price category as well as the price per square foot for May, is Unit 8H at 3303 Water Street in Georgetown. The 2,900 square foot penthouse with three bedrooms and three baths, sold for $5,719,000 or $1,972.07 per square foot. Tall window walls offer spectacular views of the Potomac River. The apartment with its wooden wall treatments, double-sided fireplace, and stunning gourmet kitchen also boasts a 1,400 square foot private roof terrace. Unit #1205 at Somerset House in Chevy Chase was the second highest sale at $4,750,000 and the sixth highest price per square foot at $1,043.96. The three-bedroom residence with 4.5 baths is quite spacious at 4,500 square feet. With an interior design by Thomas Pheasant, the apartment has gracious window bays, an extended private terrace, a den/family room with wet bar, a library/study, and a coffered ceiling in the chef’s kitchen.
Third place goes to Unit #PH101 at Westlight in the West End neighborhood. This chic penthouse with three bedrooms, 3.5 baths, and 2,919 square feet of open and airy living space sold for $4,450,000. It was also the third highest price per square foot at $1,524.49 per square foot. The building with its staggered façade was designed by Enrique Norten and is also home to the new West End Library as well as the Bluestone Lane West End Café. Unit #1209-S at the iconic Watergate captures fourth place at $2,735,000. The three bedroom co-op has 3.5 baths, 3,650 square feet of interior space, and two curved outdoor terraces. The residence has been completely renovated, and features a huge, curved main living area with an unbroken wall of windows offering sweeping views.
The fifth highest sale and the fourth highest price per square foot both go to one very impressive residence at Turnberry Tower in Rosslyn. Unit #TS08 is a one-of-a-kind top floor tower suite with two bedrooms, 2.5 baths and 2,039 square feet of living space. The condo with its private elevator sold for $2,225,000, translating to $1,091.22 per square foot. Featured in Luxe Magazine, the apartment was designed by architect Nicholas Marcinko and designers Solis Betancourt & Sherrill. Closing out the list is Unit #D2 at the new Pierce resort-style residential tower in Rosslyn. With two bedrooms, two baths, and 2,022 square feet of interior space, the stylish city flat with a private elevator and private terrace, sold for $1,748,000.
Highest Sales Price to List Ratio
Leading the way in May’s list to sales ratio is Unit #B15 at Logan Station in the Logan Circle neighborhood. The one-bedroom flat has two full baths and a bonus den that is large enough to serve as a second bedroom. The 816 square foot residence with a large private, fenced-in patio listed for $635,000 and quickly found offers coming in. The apartment ultimately sold for $685,000, a full $50K over asking for a list to sales ratio of 107.87 percent. Second place goes to Unit #708 at Madrigal Lofts in Mount Vernon Triangle. The chic loft apartment with an elevated, semi-open bedroom, listed for $469,900 and sold for $500,000, translating to 106.41 percent of the original price. The 727 square foot residence boasts exposed ductwork, giant windows, and a completely open gourmet kitchen.
Capturing third place honors, Unit #2101 at the Waterview in Rosslyn listed for $780,000 before selling for $800,000, or 102.56 percent of the initial price. The one-bedroom flat has a den off the foyer, and two full baths. But arguably the best feature of the stylish 947 square foot apartment is the unobstructed views of the Potomac River, Key Bridge, and all the way across to Georgetown. Unit #907 at Atrium in Rosslyn nabs fourth place, listing for $420,000 before selling for $430,000 (102.38 percent). The cute 765 square foot flat has one bedroom, one bath, hardwood floors in the living area, and a fun outdoor terrace overlooking the city.
Unit #310 at Amaris in the Southwest Waterfront closed at $1,542,700 or 102.17 percent of asking. The two-bedroom, 2.5-bath residence with a spacious 1,700 square foot layout is part of a slew of recent sales activity at the impressive new luxury tower at The Wharf. Designed by the late Rafael Vinoly, the 12-story tower has a twisting façade with giant cold-warped windows that offer the maximum amount of river views for tenants. Developed by Hoffman-Madison Waterfront with sleek interiors by Thomas Juul-Hansen, the building represents the epitome of waterfront luxury with a staggering number of amenities including an indoor saltwater pool and the District’s first car elevator. Closing out this category is Unit #1019 at Clara Barton in Penn Quarter. The one-bedroom, one-bath condo with 805 square feet of living space and lovely pale hardwood floors, closed at $500,000 after listing for $490,000 (102.04 percent).
Highest Prices Per Square Foot
Unit #8H at 3303 Water Street in Georgetown is a double honoree in May, capturing both the highest price per square foot as well as the top overall sales figure. The 2,900 square foot penthouse sold for $5,719,000, equaling $1,972.07 per square foot. This fabulous penthouse has a double-sided fireplace with surrounding custom wooden wall treatments, that faces into the main living area as well as into the third alternate bedroom/library with its pocket doors. Pristine views of the Potomac River are on display from giant windows, as well as from the 1,400 square foot roof terrace with its own putting green. Second place goes to Unit #PH103 at Westlight in the West End neighborhood. The expansive penthouse with three bedrooms, 3.5 baths, and 2,919 square feet of very modern living space sold for $4,450,000 or $1,524.49 per sq. foot. The corner apartment with its massive wraparound window walls was also the third highest condo/co-op sale for the month.
Unit #1104 at VIO in the Southwest Waterfront nabs third place, selling for $1,225,000 or $1,108.60 per square foot. The two-bedroom, two-bath apartment boasts a flat black custom cove ceiling in the living area, contrasting beautifully with the pale hardwood floors and white-on-white open kitchen. But it’s the direct views of the Capitol building and the Washington Monument that really grab the attention, displayed through a massive window wall. Fourth place goes to Unit #TS08 at Turnberry Tower in Rosslyn at $1,091.22 per sq. ft. The memorable tower suite designed by Nicolas Marcinko along with Solis Betancourt & Sherrill, was also the fifth highest overall sale at $2,225,000. With two bedrooms, 2.5 baths, and 2,039 square feet of luxe living space, the apartment has numerous custom features and a private elevator.
Placing fifth in the size category is Unit #2406 at Waterview in Arlington’s Rosslyn waterfront. The 1,523 square foot apartment with two bedrooms, 2.5 baths, marble tile floors, and lovely views of the Potomac River, sold for $1,625,000 or $1,066.97 per square foot. Sixth place goes to Unit #1205 at Somerset House in Chevy Chase. The ultra roomy apartment in the gated Parc Somerset community boasts 4,500 square of elegant living space. It was also the month’s second highest overall sale at $4,750,000, equaling $1,043.96 per square foot. Features include a den with wet bar, a library/study, an extended private terrace, and remarkable chef’s kitchen.
May 2023 Highest Price New Listings
The month of May showed a continued trend of high-priced condo and co-ops listings in the Washington, DC area. Topping the category is Unit #PH-5 at the new Amaris building at The Wharf in DC’s Southwest Waterfront neighborhood. The 4,410 square foot penthouse at the full service luxury tower with its many top amenities is listed at $8,390,000, and offers three bedrooms, three full and two half-baths, and spectacular views of the Washington Channel and Potomac River from giant windows as well as from the large private rooftop terrace and lounge with its own kitchen. Second place goes to Unit #3 at The Elliot, a new boutique building in the heart of Georgetown with just five residences, one for each level. Offered for $6,900,000, the three-bedroom condo with 3.5 baths and 3,980 square feet of airy living space features a very modern and open layout with White Italian Oak floors, high ceilings, a private elevator, and a sleek Italian Snaidero designer kitchen that fits along one wall.
It’s back to the Amaris for another penthouse listing, this time Unit #PH-4. The three-bedroom, 3.5-bath residence is up for grabs at $4,970,000 and is spread across two levels with 2,940 square feet of living space. Among the many features are 180 degree views from the Capitol to the Washington Channel, and an upper level entertainment area that leads out to a private outdoor space. Fourth place goes to Unit #1205 at Somerset House in Chevy Chase. Designed by Thomas Pheasant, the 4,550 square foot apartment with three bedrooms and 4.5 baths listed for $4,750,000 on May 23, went under contract the next day, and closed at full price on May 30.
The only cooperative listing in this group is Unit #85 at the grand old 2101 Connecticut in desirable Kalorama. Priced at $4,250,000, the three-bedroom, 2.5-bath apartment with 2,371 square feet of space has been impeccably renovated by BOWA, with a reconfigured open floorplan, an office, and a coveted outdoor terrace. Closing out this impressive list is Unit #63 at the very modern Westlight in the West End neighborhood. Offered at $3,380,000, the three-bedroom, three-bath corner residence features giant walls of windows, two expansive ensuite bedrooms, and a third that functions perfectly as a work-from-home space with a window wall gazing out over the city.