Cigar Bar and Steam Room: Nine-Bedroom Dupont Foreclosure To Become Fancy

• May 11th 2011

by UrbanTurf Staff

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Dupont Circle is not the first DC neighborhood that comes to mind when you think of foreclosures, but an installment of This Week’s Find in March proved that bank-owned properties can be found anywhere in the city.

UrbanTurf has now learned that the four-level, nine-bedroom home, which sits near the corner of 21st and R Streets NW just north and west of Dupont Circle itself will look quite different in about 4 to 6 months.

While the property is zoned for up to 4-5 individual units, the new owner (as of yesterday) has plans to rehab the exterior and interior (keeping most of the original woodwork) and turn it into a five-bedroom home with an elevator, steam room, roof deck and for the buyers that like Cohibas, a cigar bar. The property also has its own driveway.

Despite its status as a foreclosure and the work it needed, the home had numerous showings within hours of being listed, and there was a ratified contract on it within 48 hours of hitting the market. The listing sold for just south of its $1.366 million asking price.

One of the buyers told UrbanTurf that the renovation work is expected to be complete on the home within six months, and plans are to put it up for sale in the low $3 million range. We will update this post with more information as we receive it.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/cigar_bar_and_steam_room_dupont_foreclosure_to_become_fancy/3473.