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: 777 Morton St NW #1A
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Bedrooms: 2 Baths: 2.5 Parking: Assigned Ownership: Condo
Living Square Footage per Listing: 1520 square feet
Original List Price: $899,000. List Price at Contract: $849,000.
List Date: 10/22/2017 Days on Market: 100
Settled Sales Price: $785,000.
Seller Subsidy: $0.
Settled Price per Square Foot (adjusted for parking): $503.
Settlement Date: 3/01/2018
Transaction type: Standard
Original GDoN post can be seen: here.
The original listing can be seen here: here.
PoPville reported on the plans to develop Morton Street Mews back in 2014. As commenters to that 2014 post mention, the original church was designed by architect William Sidney Pittman. The church and parking lot became the recent condo ownership development, of three buildings of 24 two and three level units, designed by GPS Designs and developed by OPaL LLC.
Located close to the Petworth Metro and blocks to DC USA’s Target and other retail, Morton Street Mews drew quite a bit of attention when some units hit the market with seven figure price tags on this formerly affordably priced block. Four large units ultimately did sell, in 2016 and 2017, for over a million dollars.
The current subject property originally listed for $1,100,000. in September 2016. Located in the church building, it was initially marketed as the “Jewel of Pittman’s Chapel”. Price per square foot for this latest sale is around $500. The last reported settlement in the project prior to the subject property was a 2000 square foot unit, originally listed at $1,150,000., closed at $950,000. ($465. per square foot). Per square foot pricing is adjusted to account for parking. Nearby new construction duplex condos on Sherman Ave NW are priced around $450.-$475. per square foot.
The listing agents for this transaction were Daniela Hurtado and Radia Benmira with Fairfax Realty, Inc. Kara Johnson, with Keller Williams Capital Properties, represented the Purchaser.