“Units For Sale at the Monster Pop-Back on Varnum”

by Prince Of Petworth — March 25, 2016 at 3:00 pm 19 Comments

varnum

A reader reports:

“Looks like the giant pop up and back at Varnum and Grant Circle is ready to hit the market. Sign says starting in the 600s.”

Check out a virtual tour for this one listed at $750,000.

tke98

I saw them putting up the sign on the side of the building and intended to share with Popville as soon as I got a good photo. I will say that the exterior came out looking much better than I expected during the construction. And the house looks much better than the former building which was always in a sad state of affairs.
grant

That’s a lot of dollars. Maybe a bit high, but probably reasonable considering the sales in that area. I don’t get it, but the market seems to.

I think it’s probably ok work. They were at it for a really long time, and working every day (not like those places that work for a few weeks and come back in a month when they have money again). That basement condo shouldn’t be in the $600s, but the top floor will do really well.

More interesting question will be that those weird fake row houses at Varnum and Grant Cir go for. They’re hideous on the outside, but way larger than these condos.
- Kvatch
  
  They were forced to stop work for about 10 months–didn’t have the permits for the expansion they were doing. The building was left open to the elements the whole time.
  
  Kvatch
anon

Wait, so the condo has an in-law suite? It seems like the first floor and basement are one condo and they have separate entrances? I don’t think I’ve ever seen a configuration like that before.
petworther

I really think both these and the units on Grant Circle look great. We could use a bit more density in the neighborhood.
Craig

So much for the whole “allowing us to convert houses to condos creates affordable housing” argument.
- textdoc
  
  Exactly.
- JS
  
  Well, no one actually argues that conversions create “affordable housing” in the sense that housing advocates use it, i.e. housing for folks who can’t afford market rate. What is argued is the fact that these conversions can help produce units at more moderate prices. Just look at the Allison St. house from the other day. Flipped as a one unit, and listed for almost 1.1 million. This house flipped as a one unit residence would be priced north of 900k. A housing unit priced almost 50% less than that is definitely more affordable in my book. The face that there are
  now 4x as many units is a bonus.
  - whatajoke
    
    whatever. this has nothing to do with creating more moderate priced housing. this is about developers trying to wring as much profit as humanely possible out of each lot. also, you could obviously buy an entire house in the same area, that’s equally nice, for a lot less.
  - J. Thornton
    
    The craziest part about most of these discussions is that MOST EVERYONE lives in A house that was “developed” and that “developer” was probably belittled, heckled, blocked, and ridiculed. At the end of the day all of this is a process and one that I personally take seriously (as I mentioned regarding some of my decisions) but I do think people should realize the risk that developers take to provide housing. Whether that is in 2016 or if it was back in 1940 (many of the houses people live in today). Yes it’s a business and yes we try to make profit so we can continue to operate but can’t one be a sensitive developer? I try to be! Although sometimes when you try and try and only get stonewalled or become the butt of jokes it leads one to be less and less sensitive to neighbors and the neighborhood. I’m not there yet as evidence of me actually responding to comments. I want to work in the city for a long time and welcome the ongoing conversation.
whatajoke

that building is an abomination, and a perfect example of developers running amuck in petworth. apparently zoning laws mean nothing in ward 4. developers would never ever be allowed to build something like that in other neighborhoods. can you imagine having one of those things going up next door to you? (also, $750,000? are you serious? that is way, way out of line with prices in the neighborhood.)
J. Thornton

@whatajoke – I’m sorry you think it’s an abomination. I’m a young, local, native, DC Developer and spent many a night worrying about how to do my best to make the project fit in. Spent countless hours thinking about colors, materials, trim, layouts, etc. in one of the units we decided to lower the ceiling height by a foot and a half so that the third floor wouldn’t look “too” out of place. Not all developers just throw something up. I do understand many of your concerns and continue to think about them each day with my fiancé as we continue to build throughout the city.
- whatajoke
  
  you were trying to make the project fit in? is that a joke? is that why the condo covers the entire backyard? why couldn’t you stick the same dimensions as all the other houses on the street? how would you like to live next door to a monstrosity like that? the people on that street now can’t even sit in their backyards without a giant, ridiculous condo building towering over them. why don’t you just say that you weren’t satisfied with the already huge profit margins that come with renovating houses in petwoth, and you figured that if you get just get rid of the backyard, you could make even more money? and that you don’t really care about anyone else in the neighborhood thinks? also, just stop it with the cover story — first of all, no one cares. second of all, no one believes that you’re from dc, or that you’re just some young guy trying to get your foot in the door, or that this is nothing more than usual cookie cutter renovation.
  - J. Thornton
    
    Ha ha. No need to go back and forth. You have your opinion, which you are entitled to. I have mine. At he end of the day everyone always thinks they “know the numbers”. They have read the articles about Petworth being the most “flipped” but in actuality I probably won’t make that much because the city held up the permit for almost a year in anticipation of legislation regarding pup ups and back. That delay alone cost me roughly $6,000 a month to the bank at 18% interest. Or the fact that he district is charging almost $100,000 for a conversion fee (converting from a rooming house to a for sale product). The point is most people just see what it was bought for and what it sells for and think the developer is making a killing. Sometimes that’s true but not in every case. Yes, I signed up for this and yes my “cover” story is not only true but very dear to me and my family. We always complain about not having local developers but then one not only takes the leap but the owns up to the project and still gets question and has his “story” belittled. Ha! I took the risk but don’t be fooled the reward isn’t what you think it is.
    - cochrynn
      
      I live on Montello and am excited for your development on Montello and Florida, Thornton. We welcome the extra density in the neighborhood and, though I don’t live next door to the site, I am close enough and am certainly happy to trade a few street parking spots, etc. for some nice new neighbors. If Petworth gives you too hard of a time there’s always Trinidad, haha. A thoughtful development will serve us better than a generic takeout place and a liquor store (even though I liked the guys who worked at Brothers!).
    - Mark Thomas
      
      Mr. Thorton,
      Your construction was held up because you did not have the correct underpinning permtis. But, chose to work on the property anyway. I think the four stop work orders that you received speak for themselves.
- JoeOn3rd
  
  @J. Thornton – The neighborhood would appreciate you replacing the newly planted cherry tree your people cut down in the public tree box out front of your development.
  - J. Thornton
    
    @JoeOn3rd – even though people keep telling me not to respond or go back and forth I want to so that residents and homeowners know that I do actually care. Having said that, “my people” didn’t cut down the tree. My understand is that it was the city. Why would I cut that down? It provides beautify to the streetscape and certainly adds value to that which I am trying to sell. Additionally, I believe the utility work may have caused the city or its representative to “cut it down.” Thank you for pointing that out and I will reach out to the city to see what happened and if they plan to replace. If not, I certainly think it is in everyone’s best interest that I provide a tree there. Thanks again!
jlt4

This building is hideous

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