Realty Pros

DC Neighborhood Projects: N Street Follies

jason — Mon, 18 Feb 2013 05:17:41 +0000

PRESENT:

FUTURE:

LOCATION:
The N Street Follies is a new development coming to the Dupont Circle neighborhood located at 1775 N Street NW, Washington, DC 20036. This condominium project will consist of 68-units. The project is developed by Innovative Development Group and designed by PGN Architects.

PRICING:
The square footage is TBD. The pricing is TBD. Expected delivery in April 2014.

Hopefully you found this post useful! If you would like more information about Washington DC real estate, please contact Realty Pros at 202-537-3800. If you’re new to DC, we’d especially like to extend a warm welcome. We value the opportunity to help my clients find the home that meets their needs and provide them with professional, reliable service.

DC Neighborhood Projects: Hailey House

jason — Thu, 14 Feb 2013 05:24:46 +0000

PRESENT:

FUTURE:

LOCATION:
The Hailey House is a new development coming to the Columbia Heights neighborhood located at 3511 13th Street NW Washington, DC 20010. This condominium project will consist of 25-units. The project is developed by Madison Investments.

PRICING:
The square footage ranges from 650 SF to 920 SF. The pricing is TBD. Expected delivery in April 2013.

DC Neighborhood Projects: Foxhall Ridge Townhomes

anatta_design — Tue, 24 Jul 2012 18:43:55 +0000

One day I was driving through MacArthur Blvd and to my surprise…I saw a new construction development called Foxhall Ridge Townhomes. The project is located at 4452 MacArthur Blvd. NW Washington, DC 20007 in the Palisades neighborhood. The pricing is upwards of $1.3 million.

The Spencer model homes consist of four stories with an open floor plan for living -dining- gourmet kitchen, deck, two en-suites, spacious great room, roof top terrace with gas fireplace, park views, optional third bedroom, study, foyer, two car garage. The total square footage is 2,095.

Hopefully you found this post useful! If you would like more information about Washington DC real estate, please contact Realty Pros at 202-537-3800. If you’re new to DC, I’d especially like to extend a warm welcome. I value the opportunity to help my clients find the home that meets their needs and provide them with professional, reliable service.

DC Neighborhoods: American University Park Homes

anatta_design — Fri, 29 Jun 2012 18:44:23 +0000

American University Park, otherwise known as AU Park, has a wide variety of home styles in the neighborhood which include colonial, victorian, rambler, contemporary, modern, etc. The average home price is $937,500 (According to Trulia: April 2012-July 2012).

DC Neighborhood Projects: 77H

anatta_design — Thu, 31 May 2012 18:42:28 +0000

LOCATION:
A new contemporary 303-unit, wood-framed apartment project is being built at 77 H St. NW, Washington, DC in the Mount Vernon Square neighborhood. The developer is Clark Group and designers are: Mushinsky Voelzk and Associates/MV+A and The Preston Partnership. The 77H project is minutes from the Union Station metro station, and I-395. You can find more information at http://www.liveat77h.com/

77H will consist of retail shops above two levels of below grade parking and a 76,000 SF anchor Walmart with rooftop mezzanine space. This location will be one block away from shopping, dining and nightlife. “77H’s four levels of residential space will incorporate three amenity areas, a dramatic rooftop pool and lounge area, a fitness center, and two internal courtyards. 77 H St is designed to achieve Green Communities Certification through the Enterprise Green Communities initiative. The project will feature recycled building materials, low VOC caulking and paints, and its close proximity to public transportation promotes walkability.” (Clark Group)

DC Neighborhood Projects: 1337 Eleventh

jason — Tue, 10 Apr 2012 04:56:28 +0000

LOCATION:
“1337 11th Street is situated at the corner of 11th and O Streets, NW, in the high-visibility, high-foot traffic neighborhood of historic Shaw. Located only blocks from the bustling Logan Circle, 14th Street and K Street areas, it is the ideal location for a concept restaurant or café, neighborhood retail site or residential development. Combining ample interior space on four floors with a significant amount of outdoor café space and private, off-street parking, this property represents a very unique opportunity.

The building is the end unit of a circa 1890’s commercial row. The exteriors and façades of all five buildings in the row were refurbished and painted in the summer of 2011. Brand new, historically accurate Pella Architectural Series windows were installed in 1337 11th Street at that time.

The property will be delivered immediately upon lease ratification as a completely gutted shell ready for build-out. See our Lease page for more details.

Ground Floor
1,700 SF interior and 1,500 SF outdoor cafe space
40′ x 20′ main front room
20′ x 18′ middle room (storage/restrooms)
31′ x 20′ enclosed rear room (kitchen/storage)

1st Floor
1,100 SF interior and an additional 600 SF of outdoor patio space at rear
40′ x 20′ main front room featuring 11′ high ceilings
20′ x 18′ middle room

2nd and 3rd Floors, each
1,100 SF interior and additional 120 SF of balcony space at rear
40′ x 20′ main front room featuring 11′ high ceilings
20′ x 18′ middle room” (1337Eleventh)

DC Neighborhood Projects: Howard Theatre

jason — Tue, 14 Feb 2012 05:00:33 +0000

Howard Theatre Restoration, Inc. and Ellis Development Group is currently spearheading a $29 million renovation of the Howard Theatre located near the corner of 7th and T Streets, NW in the Shaw neighborhood. The Grand Opening Gala and Tribute Concert to be held on Thursday, April 12, 2012.

What is the Howard Theatre?
The Howard Theatre opened in August 22, 1910 as the hub for African-American performances in music, dance, drama, and comedy. At that time it was “the largest colored theatre in the world,” with speakers like Booker T. Washington and performances by Duke Ellington, The Supremes, Marvin Gaye, Aretha Franklin, James Brown, etc. Unfortunately, the Howard Theatre eventually closed following the 1968 riots.

What is the restoration plan?
The plan is to reconstruct the 1910 façade with its original 17 windows and include the following: “a medium-sized stage and seating for 500-600 patrons, upscale food and beverage services to “complement a destination entertainment experience,” and community-use spaces such as classrooms and recording studios.” (CityPaper)

State of the Market: Where have all of the DC homes gone?

jason — Thu, 12 Jan 2012 05:15:32 +0000

Over the past 8 months we have seen a declining trend of housing inventory in the Washington DC real estate market. According to the Real Estate Business Intelligence report, there has been a 22 percent drop in December 2011 compared to December 2010. Of the homes on the market, 1 out of 20 homes is a foreclosure indicating a decline in market share at 16 percent in December 2010. Short sales have remained steady at 23 percent of the sales and median sales prices fell 3.6 percent in 2011.

What are the reasons for the low housing inventory?
There are many factors which contribute to the current lack of inventory. One reason is the bad economy which halted new housing construction between 2007 and 2009, where the majority of builders couldn’t get financing to finish projects. Newly completed housing projects that were originally slated to be condominiums ended up as apartments. Another reason is that sellers are refraining from putting their homes on the market to prevent from loss of declining home prices due short sales and foreclosures bringing down house values.

What can homebuyers expect in the current Winter market?
If you are looking for homes in DC, then it is more important than ever to do your research beforehand so you can have realistic expectations of the current Winter market.

Condos
The majority of homes for sale in the DC market are condos. Studios ranging from $160k-220k, 1bedrooms from $250k-$430k, and 2bedrooms from $480k-$700k. There is a wide range of condo prices due to the location and amenities of each building. It is becoming more difficult to finance condo purchases as lenders are placing strict regulations on condo association performance.

Townhomes
If you are in the market for townhomes, you will find a majority of fixer-uppers starting at $310k to $499k depending on the location (ie. Shaw, Ledroit Park, Eckington, Bloomingdale, etc). We have seen an increasing trend of developers and investors purchasing old townhomes and putting the bare minimum/poor renovations in homes. If you are expecting a high quality, fully-renovated townhome, then it will cost you at least $500k.

Single Family Homes
Single family detached homes in the District can range from $350k in Brookland, $550k in 16th Street Heights, $800k in American University Park/Tenleytown, $1.5 million in Friendship Heights/Chevy Chase. Again it is all about LOCATION, LOCATION, LOCATION!!!