What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
The Six-Month, $350,000 Bump in Georgetown
✉️ Want to forward this article? Click here.
1055 High
If you need further proof that DC’s uber high-end residential market is looking more like New York by the day, here it is.
Unit 4W, a 3,300 square-foot, three-bedroom condominium at the new luxury residential building 1055 High in Georgetown, sold last week for $5 million. The sale comes just six months after the unit originally sold for $4.65 million, making for a tidy $350,000 increase in valuation for the owner since December.
Unit 4W
It should be noted that demand for the condos at 1055 High, a seven-unit luxury project at 1055 Wisconsin Avenue NW (map), was substantial when they hit the market last year. Priced between $3.6 and $5.5 million, all the condos went under contract within three weeks of hitting the market, and each sold to an all-cash buyer paying substantially over list price.
However, the more notable thing about the transaction is how rapidly the unit was put back on the market — one month — after it was originally sold. Perhaps these type of quick-hit, for-profit real estate transactions are no longer limited to the Big Apple and Los Angeles.
See other articles related to: 1055 high, eastbanc, georgetown, georgetown condos, georgetown home prices, luxury condos dc, luxury real estate dc
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the_six-month_350000_bump_in_georgetown/10081.
Most Popular... This Week • Last 30 Days • Ever
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
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