Suzanne Des Marais is an associate broker with 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 Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.
Featured Property: 1740 New Jersey Ave NW, Multiple Units
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Shaw
Multiple Units, in order of settlement date, as follows:
Unit 2: 2 Bedroom 2 Bath, 1160 square feet, Priced $599,650. Under Contract, Settles 10/28/2016
Unit 5: 1 Bedroom 1 Bath, square feet not noted, Priced $399,650. Settled 09/20/2016 for $389,000. plus $8250. in subsidy from Seller
Unit 4: 2 Bedroom 2 Bath, square feet not noted, Priced $492,750. Settled 08/31/2016 for $492,750. plus $750. in subsidy from Seller
Unit 1: 2 Bedroom 2.5 Bath, 1260 square feet, Priced $599,650. Settled 08/30/2016 for $600,000. plus $750. in subsidy from Seller
Unit 3: 1 Bedroom 1 Bath, square feet not noted, Priced $399,750. Settled 08/30/2016 for $399,750. plus $2095. in subsidy from Seller
Average Days on Market: 55
Transaction type: Standard
The listings can be seen here: here.
Given how many times this building has been commented on for “Good Deal or Not” (GDoN), it is long overdue for a Revisited post. You can see the two condo listings above with 49 and 10 original comments respectively.
And here is the 2008 GDoN post for the original sale of the whole building. It is highly worth checking out the circa 2008 comments (that was in the middle of the seriously crappy post-bubble market, when smart investors and developers should have been buying).
The property had been a doctor’s office and residence. In 2007 to 2009, the listing remained on the market for 498 days. It started priced at $995,000. and did not produce a buyer, even with the price ultimately lowered to $799,900. It did not finally sell until 2013, when it closed for $775,000.
The listing agent for the recent new construction condo sales was Girard DiRuggiero with Urban Land Company, LLC.