GDoN Revisited by Hipchickindc – 1901 Wyoming Ave NW #46


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: 1901 Wyoming Ave NW #46
Legal Subdivision: Kalorama
Advertised Subdivision per Listing: Kalorama
Bedrooms: 1 Baths: 1 Parking: Street Ownership: Cooperative Monthly fee: $460.
Original List Price: $324,900.
List Price at Contract: $289,000.
List Date: 9/30/2013
Days on Market: 113
Settled Sales Price: $279,500.
Seller Subsidy: $2350.
Settlement Date: 3/7/2014
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The original listing can be seen here: here . Here is a link to the virtual tour.

Like many of the century old apartment turned co-op buildings in DC, The Altamont has an interesting back story. The DC Cooperative Housing Coalition has a great history posted on their site. Here’s an excerpt:

“…in its original configuration had three apartments on each floor: On the east and west there were two grand, 12-room apartments with servants’ quarters and in the center, one smaller bachelor’s apartment. Most of the original apartments had at least one wood-burning fireplace, and those fireplaces are still maintained in good working order today.

The seventh floor featured a restaurant, with dumb-waiters servicing the apartments, in addition to trunk rooms for each apartment. The basement, too, served the residents, with a billiard room, barber shop, beauty parlor, servants’ dining room and a laundry. The laundry room still has the massive original gas clothes dryer, now disconnected but used as a convenient drying rack.”

In the past six months there have been eleven other transactions of one bedroom co-op units within a half mile of this property. The less than 700 square foot units in this building represent the low end of the market. Other units of similar size, location, and in buildings around the same age have recently sold in the low $300,000’s. Market price is greatly affected by the layout, as well as the level of update, availability of parking, etc.

The listing agent was Vincent Walsh with Tilton Bernstein Walsh Real Estate, LLC. The buyer was represented by Wayne Johnson of Keller Williams Capital Properties (which, as per note above, is the same brokerage that the author is affiliated with).

5 Comment

  • this building has some eccentric layouts–I once looked at fairly bizzare unit on the top floor. Given current prices for apartments, this one would be a good buy and the coop fee would be comparable to a lot of condo fees + property taxes, which is how one should figure these. Coops often are a little cheaper than comparable condos, partly because they usually cost a little more to finance.

    • Those 7th floor units, which have windows at the floor level and other bizarre features, used to be storage units for the huge apartments on lower levels. A few of the lower-level units in this building have been recombined into the original gigantic floorplans and are quite extravagant.

  • Coops don’t necessarily cost any more to finance. We got our current coop mortgage at the lowest available 30-yr fixed rate a few years ago. The main restriction is the number of lenders who you are allowed to use, but all the major banks will finance coops.

  • nightborn

    An odd looking place. That bedroom looks tiny. But that does seem like a very low price… is there an underlying mortgage?

  • My question is why the 3.3% price drop between list and close? Plus the seller subsity it is a 4.1% drop. Was it overpriced? Just curious.

Comments are closed.