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Sold for $200,000 in 30 Days

by Prince Of Petworth August 11, 2017 at 10:00 am 0

Good Deal or Not Revisited (GDoN-R) is a weekly post that reviews the settled sales data of a recent individual real estate transaction in the District of Columbia. Each post is intended as a case study and a snapshot of the real estate market at a particular moment in time. GDoN-R generally posts on Friday in the late morning.

GDoN-R has been written exclusively for PoPville since 2009 by Suzanne Des Marais. Suzanne is a practicing Realtor with Compass. 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 Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.

Featured Property: 1701 16th St NW #307
Legal Subdivision: Not noted in listing
Advertised Subdivision per Listing: Dupont Circle
Bedrooms: 0 Baths: 1 Parking: Street Ownership: Co-op
Square Footage per listing: 338
Original List Price: $218,000. List Price at Contract: $218,000.
List Date: 6/8/2017 Days on Market: 30
Settled Sales Price: $200,000.
Seller Subsidy: $0.
Settled Price per Square Foot: $592.
Settlement Date: 8/07/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

One of James M. Goode’s “Best Addresses”, the Chastleton is an over 300 unit eight story building that covers an acre of land on 16th Street NW at R Street NW. Until about a decade ago it was all rental. The most recent developer transitioned the building to cooperative ownership.

Goode’s history notes that although Harry Wardman was once one of the owners of the building, he was not the developer or the builder. It was also once owned by Mr. and Mrs. Alfred I. du Pont of Wilmington, Delaware.

In 1979, developer Virginia Page considered converting the building to luxury condos. In response to residents’ opposition, the city passed emergency legislation preventing rental units from being converted to either a hotel or condo ownership. Per Goode, “Most tenants were willing to move when Mrs. Page offered each a $4000. subsidy, five months’ free rent in an apartment house in Southwest Washington, and a color television.” Twelve tenants refused the offer and remained in the building until evicted in 1984.

The listing agent for this property was William Skipworth with DC Living Real Estate LLC. Jose Semorile with Century 21 Redwood Realty represented the Buyer in the purchase of this property.

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