GDoN Revisited by Hipchickindc – 1636 Irving Street, NW #2


Hipchickindc is a licensed real estate broker. She is the President of 10 Square Real Estate. 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: 1636 Irving St NW #2
Legal Subdivision: Mount Pleasant
Advertised Subdivision per Listing: Mount Pleasant
Bedrooms: 1 Baths: 1 Parking: Street Ownership: Condo
Original List Price: $379,000.
List Price at Contract: $379,000.
List Date: 02/13/2015
Days on Market: 5
Settled Sales Price: $390,500.
Seller Subsidy: $0.
Square Footage reported in listing: 575
Settled Price per Square Foot: $679.
Settlement Date: 03/19/2015
Bank Owned?: No Short Sale? No Estate: No

Original GDoN post is: here.

The original listing can be seen here: here.

This property is located just off of Mount Pleasant’s commercial district and was converted from a four unit rental building to seven condos and two deeded parking spaces in 2005 by developer Lakritz Adler. The condo is called The Madera.

In 2005, the brand new units sold for an average of $669. per square foot. Those who were around during the mid 2000s boom years of DC real estate may recall that segments of the market began to slow significantly in 2006, as reflected in the 2006 sale of the subject unit for $446. per square foot.

From 2008 to 2010, the building saw prices around $540. per square foot. In 2013, a unit in the building without parking sold at $711. per square foot.

The listing agent for this sale was Randall Nolan with Urban Land Company. Cameron Shosh with Century 21 Redwood Realty represented the buyer in this transaction.

4 Comment

  • Geez, that’s almost as much as I paid for a whole house just down the street in 2000 (although we did pour a lot more money into repairs and renovations). I don’t know how anybody can afford to buy in the neighborhood these days. BTW the contentious history of this property aside, it’s too bad there isn’t a better photo. The front garden looks very nice during the growing season.

    • Lots and lots of leverage.

    • The “contentious history of the property” should not be overlooked.

      Like how the humble street frontage masks a hulking addition that runs all the way back to the alley.

      Or how the developer, in cahoots with an acting City official who was later fired finessed plans for a 4 unit apartment building into seven units of condos. Despite the local ANC and others’ efforts to call foul.

      And developers are back in business again, baby.

  • This was in 2005. There’s a zoning regulation on the books that limits the number of apartments in a building by requiring 900 square feet of lot per dwelling unit. This building would qualify for three, according to that rule. But the developer argued that the regulation referred to “apartment conversions”. Then, because the building was already considered an apartment house, it wasn’t a “conversion”, and so the rule didn’t apply. The DCRA Zoning Administrator bought that sophistry, and permitted seven units, where the rule would permit only three.

    The zoning regs were later revised to make it explicit: 900 square feet of lot area per dwelling unit, minimum, period. But that was much too late for this building, which by that time was a done deal.

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