GDoN Revisited by Hipchickindc – 2310 1st St, NW

2310-1st-Street-Northwest-e1371215151894

Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a popville.com advertiser. 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: 2310 1st St NW
Legal Subdivision: LeDroit Park
Advertised Subdivision per Listing: LeDroit Park
Bedrooms: 5 Baths: 2.5 Parking: Street
Type of Ownership: Fee Simple
List Price at Contract: $650,000.
List Date: 06/12/2013
Days on Market: 6
Settled Sales Price: $695,000.
Seller Subsidy: $10,000.
Settlement Date: 07/03/2013
Bank Owned?: No Short Sale? No

Original GDoN post is: here.

The listing can be seen: here. To see pics, open the link above and click on the camera icon to scroll through pics.

Comment from the original Good Deal or Not (GDoN) post:

“this is a good bit north of where the actual development in Bloomingdale is occurring. I actually considered buying a house in Bloomingdale, but something 5 blocks away from the 1st and RI development stretch is significantly different than something 2 blocks, in terms of the neighborhood feel. We walked the whole area to be sure, and that’s what eventually drove us away from it.”

As I walked the couple of blocks home tonight from Red Hen, I pondered this comment in prep for writing this post. Back in the day, like when I brokered my first sale in the neighborhood under $200,000. for an entire Victorian townhouse, the upper part of the neighborhood (where this property is located) was generally considered the more desirable part of the neighborhood.

First Street NW is one of my personal favorite streets to travel in DC for architectural reasons. If you don’t know what I am talking about, start at Michigan Ave NW at First Street NW and drive South (that’s the McMillan site that is getting a lot of press, on your left). As you cross the intersection at Rhode Island Ave NW, you’ll see the commercial district that was referred to. Below Rhode Island Avenue, you’ll notice that the houses, while still bay front, are narrower than the very large homes on First that are north of Rhode Island.

I’m pretty sure the first heated South of Rhode Island vs. North of Rhode Island discussion I had was during a Snowmageddon party (remember, nobody could get anywhere to get food, so everybody just brought what was left in their pantrys, which, in the case of some of my neighbors, was essentially alcohol). I am glad to hear that, being a Sout of Rhode Island resident, we are now in what is perceived as the hot part of Bloomingdale.

The listing agent was Paulette Savoy of Long and Foster. Rajeev Purohit of Coldwell Banker Residential Brokerage represented the buyer.

9 Comment

  • Rant: I wish I could afford this. :-/

    Revel: Bought a (much) smaller spot South of RI instead in the “hip” part of Bloomingdale :-D

  • I am amazed that this went for less than 750K. There must be some serious hidden costs in it.

  • the original listing did disclose mold in the basement. depends on if a developer bought it or not — if they did, it will be split into condos like the recent sales on channing and bryant and well worth that price.

    • p.s. this is not a “good bit” north of everything — it’s only 0.4 miles from red hen

      • +1000000000

      • Concur and I stated this in the originally GDoN post. Bloomingdale is only 10-12 blocks north to south and while the architecture varies some north and south of RI, it’s not drastically different to the point where one is “hip” and one isn’t IMO.

        Either way, I live a few doors down from this building and I thought for sure it would sell for $750K+ so I think someone got a great deal if planning to convert it to 2 condos that will probably sell for $550-650K.

        • And I’m dismayed that it will be turned into condos, but that’s the likely outcome. Too much money to be made in this neighborhood for all-cash buyers. I just hope they keep SOME of the original interior; i think this property was relatively untouched.

          The comments about walking distance are comical. It’s like a 4-5 minute difference walking from Adams vs. walking from U St. to RI Ave. The block only feels different because it is 100% residential (which many people would see as a bonus, not “less hip” or further from the action).

          • It was financed and there was a subsidy, so I think it is more likely that it will be renovated by an owner occupant to live in.

  • Well, all of Bloomingdale is hot now. And as soon as the McMillan thing gets underway it’s going to get hotter….. now it seems certain that there will be a huge park in that development with a great community space. I think that whoever passed this opportunity up several years back would kick themselves now. My house is round the corner and has increased in value by 150K since i bought it in 2009.

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