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Selling Condos Like It's 2005

  • November 11th 2009

by Will Smith

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“Almost one every other day.”

That was the answer Greg Rooney of The Bernstein Companies gave UrbanTurf when asked about the sales pace at Waterfront Tower, the I. M. Pei-designed project in the Southwest Waterfront.

“We officially opened September 1. Since then 26 units have gone under contract,” Rooney said.

Selling Condos Like It's 2005: Figure 1
Waterfront Tower in Southwest. (map)

The enviable sales pace combined with the 35 presales to existing tenants (the building was a condo conversion) means that it will be half-sold within a couple weeks and Bernstein can begin settling on the contracts.

When asked for his thoughts on why the project was selling so well, Rooney pointed to the combination of price point (units start in the $200s); proximity to Metro (the Waterfront-SEU station on the Green Line is on the same block); quality (the contractor was Abdo Development, known locally for developing high-quality product); and eco-friendliness.

Waterfront Tower has 123 units, of which just over 60 are still on the market. Read our recent profile of the project here.

See other articles related to: dc condos, dclofts, editors choice

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/selling_condos_like_its_2005/1506.

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