“PN Hoffman, a developer of urban mixed-use properties and communities across the Washington Metropolitan Area and managing member of The Wharf, today “topped out” the structure of 525 Water, a condominium community and the first milestone for the Southwest Waterfront redevelopment.
Situated across from the iconic Arena Stage, 525 Water, a five-story, 105,000 square foot residential community, will have 108 condominium homes ranging from studios to three bedrooms, with homes starting at $400K. The building will feature Potomac River views, a residents’ clubroom and an interior courtyard. 525 Water will front a new 3.5-acre waterfront park. The building is set for delivery in Summer 2016. Pre-sales will begin in early Fall.
Looks like the Virginia crisis/threat has been averted. From the Mayor’s office:
“Mayor Muriel Bowser announced a final agreement between the District government and D.C. United that clears the way for D.C. United to build a new soccer stadium in the District of Columbia. The signed agreements include improved deal terms which will result in better financial protections for District of Columbia residents, clarify the size and timeline of the stadium, and strengthen community engagement. The Bowser Administration will submit legislation to the Council of the District of Columbia for final review. (more…)
This rental is located at 1101 3rd Street, Southwest. The listing says:
“Plz call due to dog. Great location near employment sites, shopping & other enjoyments that comes with city life. Metro, Starbucks, Safeway, CVS only half block away Short distance to SW waterfront, & National Baseball stadium. Rarely available studio in the Chic, modern, and eco-friendly Waterfront Towers. I.M. Pei-designed bldg, fully renovated. Rent incl gas & heat; tenant pays only elec.”
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: 1344 4th St SW
Legal Subdivision: Rla (SW)
Advertised Subdivision per Listing: Waterfront
Bedrooms: 4 Baths: 2 Parking: Onsite Parking/Rent Ownership: Cooperative
Monthly co-op fee: $989.
Original List Price: $539,000.
List Price at Contract: $539,000.
List Date: 02/20/2015
Days on Market: 35 Settled Sales Price: $534,000.
Seller Subsidy: $0.
Settlement Date: 05/14/2015
Transaction type: Standard
The last time we re-visited a Charles Goodman designed cooperatively owned River Park Mutual Homes barrel roofed townhome was in December 2013. In December 2013, that unit sold for $411,000. Note that it was a smaller home (3 levels instead of 4). You can read more information about River Park and co-op ownership in that link.
River Park Mutual Homes is just one of the cooperatively owned communities in SW DC that have townhomes included, in addition to flats in a multi-unit building. Both Tiber Island and Harbour Square have co-op townhomes, as well. With the SW waterfront development actively under construction, and the Capital Riverfront activity to the east, these homes are in the midst of a rapidly changing environment from a community amenity standpoint.
This is the highest sale price to date for a River Park townhome. The other most recent sale occurred in February 2015 at nearby 1336 4th St SW. 1336 4th St SW, also a 4 bedroom barrel roof style home, was listed for $519,000., and ultimately settled for $531,000.
River Park often draws buyers looking specifically for these unique Mid Century Modern designed properties. Although, as noted in the comments, fees on co-op ownership homes are generally higher than for condo ownership , they can include real estate taxes and (depending on the community) part of the mortgage. A benefit over owning a fee simple townhome is that the exterior maintenance (i.e. the roof) is addressed by the co-op. Even with the fee of nearly $1000. per month, given that they are still priced under $540,000., these units are currently some of the most affordable for sale options for 4 bedroom homes this close to downtown in DC at the moment.
The listing agents for this sale were Steve Dean and Eddie Rangel with Re/MaxAllegiance. Joseph Licastro with Pier Associates Real Estate, Inc. represented the buyer in this transaction.
Kick off Cinco de Mayo with On Tap Magazine, Corona, Cantina Marina & The Wharf at the Fourth Annual Running of the Chihuahuas for Charity! Sunday, May 3rd from 1:00-4:00pm at SW Waterfront, DC- between 6th and 7th Street. Enjoy Chihuahua races, food trucks, beer stands, dog contests at this family friendly event!
$500 in cash and prizes for racers! Only $20 per dog to race, ALL entry fees are donated to local animal charities!
Space is limited to 96 dogs and we anticipate selling out quickly, so be sure to reserve your spot now! Last day to register is Friday, May 1nd. Walkups on race day will be accepted, unless all spots are full.
Don’t have a Chihuahua? You can still take part in the excitement with our all breeds contests for best dressed and best trick! All doggie competitors must have up-to-date vaccinations and leashed when not racing. Unruly dogs will be excused, and we ask that owners please pick up after their pets!
This is an admission-free, family-friendly event, but attendees must be 21+ to drink beer or attend the after party.”
“Originally located at the foot of New Hampshire Avenue, NW in Rock Creek Park along the Potomac River, the monument was removed in 1966 to accommodate the Kennedy Center. The memorial was re-erected without ceremony in 1968 at its current location in Washington Channel Park at Fourth and P Streets, SW”