Dumont Condo For Sale: $170 Million
The Dumont Condominiums, a 559-unit, two-building development between 4th and 5th Streets on Massachusetts Avenue (see map here), is up for sale. The current asking price is $170 million which works out to about $304,000 per unit.
Originally planned as condos, the project switched to apartments when the market went downhill, and now it looks like the developer is just trying to sell the whole thing. The complex consists of two buildings: a 189-unit building where the average unit size is 786 square feet and a 370-unit building where the average unit size is 908 square feet.
Like CityVista, its neighbor a few blocks north, the Dumont Condominiums caters to most of its would-be residents’ desires. Most of the units have a private balcony or terrace as well as a reserved parking space. All the condos have been pre-wired for internet and have a washer/dryer. There is a rooftop pool in each building, as well as a fitness center, a wi-fi lounge and a bicycle storage area.
The buildings have been finished and vacant for sometime, and although it seems like a good price for such a large project, we don’t know of a lot of people in this economy who currently have $170 million that they are willing to drop on an empty condo development.
See other articles related to: dclofts
This article originally published at https://dc.urbanturf.com/articles/blog/dumont_condo_for_sale_170_million/844.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro