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Sold in Seven Days “This particular unit included a parking space, a fireplace, and a private balcony.”

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 MRIS (Metropolitan Regional Information Systems), which is the local multiple listing system and/or Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.

Featured Property: 1314 W St NW #B
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Old City #2
Bedrooms: 2 Baths: 1.5 Parking: Paved Driveway Ownership: Condo
Living space square footage: 706 square feet
Original List Price: $549,000. List Price at Contract: $549,000.
List Date: 11/20/2017 Days on Market: 7
Settled Sales Price: $549,000.
Seller Subsidy: $1000.
Settlement Date: 12/22/2017
Price per Settled Square Foot (adjusted for parking): $733.
Transaction type: Standard
Original GDoN post can be seen: here.
The original listing can be seen here: here.

Repurposed as condos in 2005, this U Street Corridor conversion pre-dated the significant PN Hoffman warehouse and new construction development of Union Row, around the corner on 14th Street, by two years. This block of W Street includes several small scale (2-4 units) condo associations in formerly single family large scale Victorians.

This particular unit included a parking space, a fireplace, and a private balcony. Factoring in the $1000. subsidy and $30k for the parking space, this place settled at $733. per square foot. Unit C, a smaller one bedroom unit in the same building, at 445 square feet, with no parking space, sold in September 2017 for $365,000. or $820. per square foot. (Price per square foot generally is higher on smaller as compared to larger units, but this is seriously high for DC, especially for a property developed over ten years ago).

A 2016 condo conversion in a Victorian, slightly larger at 800 square feet, similarly one bedroom plus den, one and a half baths and a private balcony (but no parking) on the same block as the subject property, sold in June 2017 for $680,000. ($850. per square foot). Washingtonian buyers often place a premium on newer or new construction.

Looking at all 700 to 800 square foot condo units throughout DC with no parking (to keep comparison simple) sold in 2017 so far, average price per square foot is $610.

The listing agent for this transaction was Andres Serafini with RLAH Real Estate. John Breast, with Wydler Brothers, LLC, represented the Purchaser.

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