GDoN Revisited by Hipchickindc

In real life, hipchickindc is actually the not-so-hip Suzanne Des Marais, an associate broker with Urban Pace. Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, Suzanne is currently Chair of the DC Public Policy Committee for the Greater Capital Area Association of REALTORS® and is President Elect of the Washington, DC Association of REALTORS®. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers.

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: 703 6th St NW #8

Original List Price: $649,900.
List Price at Contract: $619,900.
List Date: 04/16/2010
Days on Market: 69
Settled Sales Price: $550,000.
Settlement Date: 07/01/2010
Seller Subsidy: $0.
Bank Owned?: No
Type Of Financing: Cash

Original GDoN is: here.

Listing is: here. To see pics, open the listing link, click on the main pic and scroll through the arrows.

Looks like the purchaser of this duplex penthouse unit settled just in time to enjoy the fireworks from
their outrageous rooftop deck. Commenters on the original Good Deal or Not (GDoN) post responded
favorably to the unit and the deck, with some debate over whether living across from the Verizon Center
was a plus or a minus. The recent colorful history of the building was also discussed, and here is some interesting information about the origin of the property.

Continues after the jump.

Originally called “The Myrene”, it was marketed as “The Galileo” following the conversion to condos.
When the eight newly renovated units were marketed for sale at the height of DC’s real estate Boom years, this
penthouse was initially priced at $799,900. The listing that spanned from December 2003 to January 2005 had
no takers, even when dropped to $599,900. It was ultimately withdrawn. The original listing suggests that the
unit is 1450 square feet and at that time was identified as having one bedroom, one and a half bath. The recent
listing reports two bedrooms.

Going by the 1450 square feet on the prior listing, without even taking into consideration the noted 600
square feet of roof deck, the unit sold for $379. per square foot. Given that the last unit in this building
sold in March 2010 with no outdoor space at $579. per square foot, I’d say this was a pretty good deal.