GDoN Revisited by Hipchickindc – 2223 1st Street, NW


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 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: 2223 1st St NW #1
Legal Subdivision: LeDroit Park
Advertised Subdivision per Listing: LeDroit Park
Bedrooms: 2 Baths: 2.5 Parking: Driveway/Off-Street; On-site Park/Sale
Living Area Square Footage Per Listing: 1400
Original List Price: $569,900.
List Price at Contract: $569,900.
Days on Market: 38
Settled Sales Price: $565,000.
Seller Subsidy: $11,000.
Settlement Date: 9/27/2013
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.

The 1997 listing for this property boasted that it was a “ten minute drive to Dupont Circle and fifteen minute drive to Capitol Hill”. It was also noted that the home, at that time, was in “poor condition but with great potential”. At that time, the entire house, all three levels above grade plus basement, sold for $72,000. That was an $8000. discount from the $80,000. list price. It did go quickly, though, at nine days on the market.

I was actively working as a real estate agent in Bloomingdale during the mid-2000’s and can definitely say that we saw prices and activity start to dive in 2006. It was a huge risk, therefore, for the developer of this condo conversion to create one of the first truly high end duplex condo conversions in the neighborhood. Despite it being 2008 when they came to market, they were the first units to sell over $500,000. in the immediate area.

The listing agent was Renee Reymond of Long & Foster Real Estate, Inc. The purchaser was represented by Ray Ogundeyin of Fairfax Realty, Inc.