(Was it a) Good Deal or Not? “Penthouse unit in a classic townhouse” edition

This condo is located at 1207 Girard St, NW:

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The flier says:

“Stunning 2BR/2.5BA Penthouse unit in a classic townhouse. Amazing outdoor spaces. Open floor plan on main level stretches 65′ with 10’+ ceilings. Gourmet Kitchen offers custom Euro cabinetry, 10′ long island, gorgeous marble counters, superior SS appliances. Upper level: owner’s suite with 2nd deck, 2nd BR, marble baths. Front attic storage space. Secured parking!”

You can find more info here and a mouse on house tour here.

I know people feel strongly about row houses that get divided into condos – so I was curious what you thought about this one. I thought it was particularly interesting that it went under contract so quickly. My goal is to get invited over to see that deck in person…

This 2 bed/2.5 bath was going for $739,900 ($212 condo fee).

35 Comment

  • 739k for a converted condo in that location.. lol

    Youve got to be kidding me!

  • Gorgeous renovation! Living room AND family room is a great bonus in a condo. I think it is high given the fact that you can buy a whole house around there for that and there are no condo fees with a house.

    • i never get this comment that always pops up. when you split a rowhouse into a couple units, your “condo fees” are just splitting the cost of maintenance and repair of the house. when you own a house, you have the whole cost of replacing the failed roof, instead of getting to split. it’s not like some external agent is getting rich off the condo fee checks you’re writing every month.

      • I don’t know about that… wouldn’t the management company be needing to make a profit in order for it to be worth their while to run the place?

  • I always wonder what whole houses in the Colombia Rd/FL/14th to 13th box would sell for given that this half of a house is 3/4 of a million dollars. A renovated three story would be what – 1.4 mil?

  • I don’t love the location but for that nice of a renovation, I don’t think that the price per sq. ft is that bad. This place is really big.

  • Wow, you can get an entire house for that much in Mt Pleasant – I’m really curious to know who would buy a place like this for that much $.

  • I was about to say, seems like an OK price, based on location and what you get. Personally, I think proper homes are better values, but there’s obviously a market for these things. I get it — the wow factor on this one is pretty intense. Love the decks — great way to expand the space.

    I think you could always add another full bath and bedroom off the kitchen if you needed more rooms down the road. Kills a bit of the luxury aspect, but cheaper than buying another place. The double living room thing is nice, but someone like me’d want another bedroom instead.

  • what a polished renovation. i guess a lesson is that if you go high end it pays off.

  • maybe a tad aggressive. the note alone depending on what you put down would be $2,700 a month. Assuming a great credit rating and $221K down.

    aggressive indeed.

    • I don’t know – I’m more familiar with rentals, but if I were renting a gorgeous duplex like this for $2,700 a month, it would be a great deal. Does the calculus change when you buy?

      • Renters don’t have homeowner’s insurance, property tax, and maintenance costs to worry about.

      • Well given the example above you would have to put down $221,000 and then pay $2,700 a month. So the $2,700 a month isn’t scary but geez $221,000 in cash…

    • I think it would be a lot more than that. What of interest rate are you using?

    • I think it’s prob be more like $3800/month PITI with a large down payment — which I think these buyers are likely to have.

  • Bad deal. Don’t care for that location in Col. Heights. And yeah, converting row houses into separate condos really irks me.

  • I don’t know squat about the pricing, as I’m a poor SOB, but hot damn! I would take it as is without changing a thing… provided I happened to have a cool 800K lying around.

  • Amazing! I would think that price is high for neighborhood but the space is absolutely amazing!
    I think repurposing old row houses into condos is great. It increases urban density without destroying the historic character of a neighborhood. We don’t have large families anymore and condos (if done right) can ensure that a building is maintained well and honors the historic and architectual significance of the building.
    Not to mention it creates houseing that can (though not in this case) be more affordable than a 3-4 story row house.

    • Also, you’d be hard pressed to find a historic row house with this many baths.

      • It may be an old rowhouse, but if you gut down all internals and then re do i, you can have more bathrooms than bedrooms.. its really up to you!

  • I absolutely love the reno. I wonder what developer it was because it’s truly awesome.

    But no way in hell am I going to pay in the mid-700s for a 2 bedroom condo in Columbia Heights.

  • Definitely a great place, but I can’t figure out a way to look at this that doesn’t output “bad deal”.

  • As someone who has to question whether or not I could afford just the tub in the master bath, I have no grounds for saying whether or not this is a deal. It is beautiful!

  • Not my taste, but obviously the high-end modern look is in demand.

    I’m not sure why people get so up in arms about condo conversions. There isn’t much demand for 5 bedroom houses in the city anymore, which is why the per square foot price of them is so much lower. Most of us don’t have 5 kids and a nanny to house. It makes sense to turn some of them into something there is a current demand for.

    On the other hand, there are some smaller houses (2-3 bedrooms, 1,000-1,500 square feet) in the neighborhood that go for about the same as a 2 bedroom condo. We wound up deciding to buy one after initially looking for condos because you get so much more for your money, and you don’t have to deal with a condo fee. Condo fees may cover maintenance, but they’re generally much more than you’d pay to do it yourself. There must be a lot of people willing to pay for the work to be taken care of for them.

    It’s like we live in a town full of high-paid lawyers or something.

  • I live in a TH condo and fully enjoy the fact that we have other people cleaning our grounds, removing our snow, planting and trimming and flowers, and doing the upkeep on our building. the horror!!!

    By the way, a small condo like this would not need a management company so that there is no “profit” in that fee.

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