GDoN Revisited by Hipchickindc – 2716 Ordway St, NW

Prince Of Petworth September 30, 2011 at 11:00am

Hipchickindc is a licensed real estate broker. Her latest business venture can be seen here. Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.

Featured Property: 2716 Ordway St NW #6
Legal Subdivision: Forest Hills
Advertised Subdivision per Listing: Cleveland Park
Original List Price: $439,900.
List Price at Contract: $439,900.
List Date: 07/21/2011
Days on Market: 45
Settled Sales Price: $427,500.
Price per Square Foot: $455 (based on net price & factoring in adjustment for deeded parking)
Settlement Date: 09/28/2011
Seller Subsidy: $8550.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original post is: here.
The listing can be seen: here. To see the photos, after opening the listing link, scroll through the arrows on the main pic.

I’ve done a lot of comparison between close in parts of northwest DC, and plenty of comparisons between NW and The Hill. In this case, here’s a chance to compare “Close in” versus “Upper Northwest”.

I always love showing condos and co-ops in Upper Northwest because that’s where a good concentration of the buildings in James Goode’s classic Best Addresses are located. It’s fun to know the history behind many of the properties. Goode does not specifically profile this now condo/former apartment building on Ordway that was built in 1944, but he does write about “Tightening the Belt” and the effects of government expansion. He explains that, “The most prolific period in the development of garden apartments occurred between 1935 and 1945. During the Depression and war years, garden apartments were considered a practical alternative for the middle class.”

Continues after the jump.

To give us some stuff to very generally compare to, we’ve looked at a small house in East Columbia Heights at $422/square foot, and a condo in Mount Vernon at $501/square foot, and a condo in Bloomingdale at $345/square foot, a condo in Columbia Heights at $500/square foot, and a condo ON Logan Circle at $449/square foot.

This Forest Hills/Cleveland Park condo is coming in at $455/square foot. Looking very specifically at 2 bedroom, 1 bath garden style condos built from 1927 to 1944 within ½ miles of the subject property and sold since March 2011, there is a wide range from $306/square foot up to a hefty $632./square foot. Not unlike many parts of the city, which have a variety of property styles, ages, and conditions, the condo comps in the immediate area are a bit all over the place. There are several co-op buildings in that area, as well as a number of properties that have significantly high condo fees, all adding to the challenge of pricing.