Sold in 8 Days in McLean Gardens

3881-Newark-Street-Northwest

Good Deal or Not Revisited (GDoN-R) is a weekly post that reviews the settled sales data of a recent individual real estate transaction in the District of Columbia. Each post is a snapshot of the real estate market at a particular moment in time. GDoN-R generally posts on Friday in the late morning.

GDoN-R has been written exclusively for Popville since 2009 by Suzanne Des Marais. Suzanne is a practicing Realtor with the Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Smartcharts by Showingtime). Information is deemed reliable but not guaranteed.

Featured Property: 3881 Newark St NW #E479

Legal Subdivision: Cleveland Park
Advertised Subdivision per Listing: Cleveland Park
Condominium Community: McLean Gardens
Bedrooms: 1 Baths: 1 Parking: Surface, Assigned, Parking space conveys & is included in price
Ownership: Condo Pets: Allowed
Square Footage per listing: 999
Original List Price: $375,000. List Price at Contract: $375,000.
Monthly Fee: $87.76 Includes: onsite management, playground, pool, grounds maintenance (plus ballroom in community available for rent for events)
List Date: 11/27/2016 Days on Market: 8
Settled Sales Price: $400,000.
Seller Subsidy: $0.
Settled Price per Square Foot (calculated with $30k adjustment for parking space): $370.
Settlement Date: 1/31/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The listing can be seen here: here.

GDoNR

Located between Wisconsin Avenue NW and Massachusetts Avenue NW, McLean Gardens is one of DC’s largest condo communities. According to the condominium association’s website , it includes thirty one brick garden style buildings and spans over twenty three acres. Although not downtown downtown, it’s just over a mile from the Red Line at Cleveland Park Metro.

Originally developed in the early 1940’s by the Federal Government for defense workers during World War II, it was converted to condo ownership in the early 1980’s. The property has a fascinating history, more of which you can also find on the association’s website.

The community includes a wide range of units, from studios to three bedrooms. Within the past six months, the lowest priced studio sold for $239,000. In the same timeframe, one bedrooms sales averaged at $372,441., two bedrooms at $496,066., and three bedrooms at $568,667. There are currently six units actively for sale, which you can see here.

The listing agent for this property was Silvana Dias with W.C. & A.N. Miller, Realtors, A Long and Foster Company. Penny Gerber with Coldwell Banker Residential Brokerage assisted the Buyer.

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