What's Hot: A Snapshot Of Apartment Rents Across The DC Area
From $100,000 to $1 Million in Logan Circle
✉️ Want to forward this article? Click here.
Frontiers Condominiums
Frontiers Condominiums, the plain, brick row house development on 14th Street NW between S and Swann streets, seems incongruous next to the new luxury condo and apartment buildings sprouting up along the increasingly high-end corridor. The homes were built in 1977 as rental housing, and sold in 1998 for between $100,000 and $150,000 a piece.
As Housing Complex’s former reporter Lydia DePillis investigated last spring, developers have been trying to buy up the homes in the complex for a while. According to the condo bylaws, all 54 residents have to approve the deal in order for it to move forward. The unanimous decision-making process has proven to be quite a roadblock.
Last year, Monument Realty came to the residents with offers of between $681,000 and $810,000 per house. Residents wanted more money, and Monument eventually gave up.
Next to try was Lakritz Adler, a company that offered as much as $1 million to certain residents. Many were still uncomfortable with the deal, and the conversation fizzled out in the spring. In both situations, some residents were eager to sell, but neither developer could convince the entire group.
Well, it appears that at least one resident wanting to sell is taking matters into their own hands. A four-bedroom listing at the complex just hit the market…for $995,000.
Tenfold appreciation in just over a decade? It seems like all the conversation with developers has shaped residents’ perceptions of the value of their homes. However, it’s hard to say if each unit has the same value when it’s not being sold as part of a package deal. We’ll follow up if and when this home finds a buyer.
See other articles related to: 14th street, 14th street corridor, dclofts, frontier condominiums, lakritz adler, monument realty
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/from_100000_to_1_million_in_logan_circle/6191.
Most Popular... This Week • Last 30 Days • Ever
Today, we take a closer look at home insurance.... read »
Monument Realty and Mosaic Realty Partners redevelopment plans for a surface parking ... read »
A new report shows that apartment rents rose ever so slightly in DC over the last yea... read »
UrbanTurf is taking its semi-regular look at the areas around DC that have seen the h... read »
Crescent Communities and the Rockefeller Group have submitted a site plan application... read »
- A Look at What is Covered By Home Insurance
- 235-Unit Development With Public Park Pitched For Downtown Bethesda Looks To Move Forward
- A Snapshot Of Apartment Rents Across The DC Area
- The 5 Zip Codes in the Maryland Suburbs With the Highest Home Price Appreciation in 2024
- 530-Unit Development Pitched For Hotel Pentagon Site Moves Forward
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro