GDoN Revisited by Hipchickindc – 1748 Corcoran Street, NW #1A


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: 1748 Corcoran Street NW #1A
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Dupont Circle
Bedrooms: 1 Baths: 1 Parking: Street Ownership: Condo
Monthly condo fee: $566.13
Square footage: 500
Original List Price: $349,555
List Price at Contract: $349,555
List Date: 07/23/15
Days on Market: 3
Settled Sales Price: $375,000
Seller Subsidy: $0.
Settled Price per square foot: $750.
Settlement Date: 08/24/15
Transaction type: Standard

Original GDoN post is: here.

The original listing can be seen here: here.

Last week’s Good Deal or Not Revisited (GDoN-R) Original GDoN post looked at a slightly smaller condo priced nearly $100 per square foot less than the current subject property. The final price, at $75,000. over asking, may surprise commenters to the original GDoN post, who called the price high at list.

Located in the Corcoran Mews condo association, this unit is one of six in this boutique Victorian building. The earliest reported sale in this building is for this same unit, which sold in 1997 for $94,000. (it had been listed for $99,000.) It was sold again in 1999 for $135,500., then again in 2002 for $230,000. (list price $164,900.), and then again in 2004 for $300,000. (list price $269,000.)

The listing agent for this sale was David Getson with Compass. Gina Russo, also with Compass, represented the buyer in this transaction.

12 Comment

  • Just because it sold at that price, doesn’t mean it was sold for good (smart) price. There’s a lot of morons out there and it only takes a couple that want to live in some hip area to overpay. The price + those condo fees are outrageous when combined for the square footage you get. But the inventory in this area is low, so if that’s the only rowhouse 1 bedroom you see – people will buy it because they want something now.

    • Lol–what you just described is how consumerism works. How more can we define the monetary value of something without defining the market rate?

      In basic terms, it’s worth whatever people are willing to pay for it.

  • $500/mo condo fee is insane for a converted row house. Unless they did something crazy like put a pool on the roof.

    • +1 on the condo fee. That is the kind of fee you expect in SW, but at least down there you will have a pool and other amenities. It sold for so much because of the location, but you could never get me to pay a condo fee that is about the same as the square footage no matter the location.

    • Maybe it includes utilities and all property taxes? You might not need to cut a separate property tax check to the city.

      • “Maybe it includes utilities and all property taxes?”
        I didn’t realize that was an option, but it’d be about the only way I’d pay that high a fee for a 1bdrm in a converted row house.

        • I suppose its possible, but looking at the redfin listing for it, the 2014 assessment is $305k with $2.6k in annual taxes. The Tax lot # also is a 4 digit one, common for conversions. So I’d think its taxed separately and not the condo building as a whole. Not sure what that fee would include then….

          • The Redfin info also listed Tilton Bernstein Management as the management company; so maybe the fee is higher because they hired a management company.

      • The utilities can’t be that expensive – the place is tiny. Adding property tax maybe makes it slightly reasonable – but the interior of this place makes me think there’s a lot of issues with the building as this unit does not look like it’s been maintained well.

  • How the hell did the final sales price end up being $25K higher than the price “under contract” with $0 sell subsidy? I thought the price was locked – absent the inspection discounts – once the contract is issued?

  • I absolutely hate that door. That is all.

  • What does list price mean? On the original GDON it said it is going for 319,900. Here it says the original list price is 349,555. And you write that it sold for 75,000 over asking, at 375,000. Something is off.

Comments are closed.