GDoN Revisited by Hipchickindc – 6 Logan Circle NW #6

Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is an Associate Broker with Urban Pace. 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: 6 Logan Circle NW #6
Original List Price: $769,000.
List Price at Contract: $734,000.
List Date: 03/31/2010
Days on Market: 75
Settled Sales Price: $736,250.
Settlement Date: 08/12/2010
Seller Subsidy: $15,000.
Bank Owned?: No
Type Of Financing: Conventional

Original GDoN is: here.

The Listing can be seen: here. To see pics, after opening the listing link, click on the main pic and scroll through.

What should one pay to own a significant chunk (approximately 1600 square feet) of a spectacular historic Victorian mansion located on Logan Circle? Located two doors down from the mansion that General Logan himself resided in, it is one of a hand full of properties in DC constructed of green serpentine. Originally built in 1878, when the park was known as “Iowa Circle”, here is a photo of the house back in the day (second from right), and here is a more recent photo provided in the wiki link by a contributor who goes by the name of AgnosticPreachersKid.

Continues after the jump.

The original single family mansion was build for Naval Commander Allan V. Reed. It was converted to a nine unit apartment building in 1940. Currently, it includes six condominium units. In the mid-1980’s, the National Park Service participated in a restoration of the exterior of this property that was budgeted for over a million dollars. A very detailed account of this work can be found here.

The recent sellers purchased this top floor duplex unit two years prior to the opening of Whole Foods. Purchase price in 1998? $255,000. with a $7650. subsidy toward closing costs. That puts the price per square foot in 1998 at $154. The property was on the market in 2005-2006 for $850,000., but did not sell at that time. The current sale price puts it at $449. per square foot, inclusive of the parking space. This is a fairly typical price per square foot for the area, but I would have expected a property directly ON the circle to have sold for more.