GDoN Revisited by Hipchickindc – 1010 Massachusetts Ave NW #509


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: 1010 Massachusetts Ave NW #509
Legal Subdivision: Central
Advertised Subdivision per Listing: Central/Downtown
Bedrooms: 2 Baths:1 Parking: Garage Basement: No Ownership: Condo
Monthly fee: $486.56 Square Footage: 940
Original List Price: $574,900.
List Price at Contract: $574,900.
List Date: 10/9/2014
Days on Market: 5
Settled Sales Price: $590,000.
Settled price per square foot (not inlcuidng parking): $595
Seller Subsidy: $100.
Settlement Date: 11/3/2014
Bank Owned?: No Short Sale? No Estate: No
Original GDoN post is: here.
The original listing can be seen here: here.

Commenters to the original Good Deal or Not (GDoN) post tagged the listing price for this unit as both “Ridiculously overpriced” and “way overpriced”. Given that the property was under contract in five days and the price escalated $15,000. above list, it is likely there were at least a couple of buyers who did not agree with that assessment.

1010 Mass is a luxury high rise in the center of the city conceived during the Boom years of the mid-2000’s, and was built in 2007. That means that the initial sales took place after the bubble and during the recession. Even during the lean years, prices in this building were over $500 per square foot. Amenities include a staffed front desk, elevator, and a roof deck with a pool.

Sales in the building have ranged from $329,900. for a 624 square foot 1 bedroom unit (lowest price in the building and settled November 2011) all the way to a 2266 square foot penthouse that settled in May of this year at $1,875,000.

The listing agent was Jay Bauer of Lindsay Reishman Real Estate, Inc. Kas Divband of Redfin Corp represented the buyer in this transaction

7 Comment

  • I wonder what happened to the “finishes troll”. they hated the “finishes” (never saying which ones) on everything, as if you could tell whether the granite was high end from a pic.

    • Maybe they became friends with the “If you don’t like it, move to the suburbs” troll(s) and went on vacation together?

  • What’s up with the $100 seller subsidy? Uber weird.

  • Not the first time the commentariat got it wrong. But whether something is or isn’t a “good deal” is inherently a subjective judgment.
    It’s a pretty sweet looking place. I’d consider selling my house to move to an apartment like this if it did not require rolling over all of the profit to make the place affordable,
    I love the photo of the parking spaces with the Range Rover in the space designated for “compact cars.”

    • Agree that good deal is subjective. I’d also point out that just because a place transacted doesn’t mean it was a “good deal” for the buyer. People make bad real estate transactions all the time to the point that it’s one of our economy’s defining features.

  • The commentariate is trying to wish housing prices lower. But it ain’t workin’

  • It is a little small for my taste, and that block is really generic-not much of a neighborhood feeling to it. But the building is lovely, well-equipped and really conveniently located. So the price does not surprise me for that area, especially since there is a parking space included in the deal.

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