This Could Be A Sick Development

DSCN2817, originally uploaded by Prince of Petworth.

A whole apartment building is for sale on Park Road just west of 13th Street. Prime, prime location. Do you think they’ll become condos? High end rentals? Low end rentals?

8 Comment

  • Most likely low end rentals. Sure it seems like a great spot but the other building next door isn’t so hot [the wisteria?] Plus I’d imagine it to be a pretty noisy place.

  • Been inside it. Had client who wanted to buy it to do nice condos, but we couldn’t get anywhere with the current owners.

  • I like that building. I would live there. I certainly deal with all the noise. I say make it middle income housing.

  • Whatever it will be, I am sure they can shoehorn “luxury” into the description.

  • There seems to be some sort of renovation ongoing on Wisteria, or at least the top level of the Wisteria, so that may improve somewhat. The problem is they are asking for an absolutely insane amount of money for this building (3.7 million!!!), and will be lucky to get half of what they are asking in this market considering how much work it will need. Given the, umm, inhospitable lending climate, I unfortunately expect this, along with three other large, vacant, unfinished mid-sized projects in the area (the half older / half modern building on the small street behind DCUSA which has been stalled for at least a year, the former Hope 7 building on 11th and Monroe which has sat vacant since its former owner went to jail, and the gorgeous large tan building on Park and 11th which was half-finished before the owners ran out of cash) to remain indefinitely stalled until credit markets losen up. All fantastic locations and attractive properties, but much harder for smaller developers to get the capital they need …

  • “sick” ? …. does this building have a virus?

    you should follow the title with “DUDE!”

  • I have a friend who lives at the Wisteria and it’s actually super nice inside. Plus the location can’t be beat.

  • Hey now, I live in the Wisteria. It is quite nice, and the owner is doing tons of work to upgrade the place.

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