The DC Luxury Condo & Penthouse Market Stays Hot Through October!

Turnberry Tower

Ritz West End Photo

Metropole

 

 

 

 

If you were expecting a chill to set over the market for luxury condominiums anywhere in the Capital Region in October, you figured wrong. Seven figures wrong, in fact. Buyers craving that Life At The Top experience bought big on both sides of the Potomac, and paid top dollar no less!

The “Its” Had It All in October — Highest Prices Paid in Arlington, West End and Logan Circle!

Five of the Top Six dollar leaders in October were from The It Buildings lists of Life At The Top. Tops For Highest Price AND Highest Dollar Per Square Foot, the spectacular penthouse Unit 2210 at Turnberry Tower in Arlington’s Rosslyn neighborhood – a 2 bedroom, 2.5 bath with breathtaking views from a 500 sq. ft. balcony. The closing price of $2.5 Million worked out to just over $1,002 per sq. ft. Next, a 2 bedroom, 3.5-bath property at Ritz-Carlton West End sold in an estate sale for $2.4 million. And in the hottest neighborhood around, Logan Circle’s magnificent Metropole brought in $1,150,000 for a 1 bedroom, 1.5-bath residence bought by nationwide retailer Bob Williams of Mitchell Gold. The two-level corner penthouse includes a private rooftop terrace.

 

Highest Sales Prices – October, 2013

$2,500,000

Turnberry Tower

Arlington

$2,400,000

Ritz West End

West End

$1,150,000

Metropole

Logan Circle

$1,149,900

Gaslight Square

Arlington

$1,125,000

Lofts 14

Logan Circle

$1,050,000

Residences at Market Square

Penn Quarter

 

City Vista Matches The Watergate For Most Units Sold.

With 5 sales each, Mount Vernon Triangle’s City Vista and Foggy Bottom’s landmark, The Watergate, topped the Most Units Sold rankings for November. Four buildings tied for second including Flats at Union Row, Ritz West End, The Odyssey and The Waterview.

 

Most Units Sold – October, 2013

  5

City Vista

The Watergate

Mount Vernon Triangle

Foggy Bottom

 3

Flats at Union Row

Ritz West End

The Odyssey

The Waterview

U Street Corridor

West End

Arlington

Arlington

 2

Gaslight Square

Metropole

The Whitman

Yale Steam Laundry

Arlington

Logan Circle

Mount Vernon Triangle

Mount Vernon Triangle

Penn Quarter’s Residences at Market Square Goes From High Six Figures To Low Sevens — Five Percent Over List!

Closing at $1,050,000, unit 1021 at Residences at Market Square charmed the winning buyer to offer $51,000 over list to call it home. Lot 33 in Adams Morgan came next at 103 percent over list and Logan Station in Logan Circle followed with a sale at 101.7 percent of list.

Highest List-To-Sales Ratio – October, 2013

105%

Residences at Market Square

Penn Quarter

103.01%

Lot 33

Adams Morgan

101.72%

Logan Station

Logan Circle

100.59%

The Beauregard

U Street Corridor

100.40%

1661 Crescent Place

Adams Morgan

100.09%

Metropole

Logan Circle

Turnberry Tower Tops for Dollar Per Sq. Ft., But The Real Deal Was A Metropole Steal!

As I said at the start of this article, that $2.5 million sale at Turnberry Tower resulted in a whopping price per sq. ft. of $1,002. But the more revealing story comes from Metropole where Unit 704 sold for $912.70 per sq. ft. — compared to many other Logan Circle penthouse sales that have been closing in the range of $1,300 to $1,500 per square foot, it’s an absolute steal.

Highest $ Per Sq. Ft. – October, 2013

$1,102.78

Turnberry Tower

Arlington

$912.70

Metropole

Logan Circle

$850.20

Residences at Market Square

Penn Quarter

$775.19

Ritz West End

West End

$766.60

Gaslight Square

Arlington

$765.58

The Waterview

Arlington

For more information about recent sales or to discuss buying or selling a luxury property in the Capital Region, contact Jeff Wilson at your convenience.

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