Gtown Condo Sells for $7.295M, Possible New Record
Housing Complex is reporting that DC may have a new record for the highest priced condo sold in the city. A penthouse at the Georgetown Ritz-Carlton closed on March 11 for $7.295 million, according to the City Paper real estate blog.
From the City Paper:
“According to selling agent Christopher Ritzert with Coldwell Banker Georgetown, it was just put into the MLS system [on Monday night]. So, I think we have a new record-breaker here, folks! Penthouse 2D in the Georgetown Ritz-Carlton seems to be the new king.”
The fact that we are breaking records in this market is somewhat mind-boggling, but we hope that it is a sign of a turnaround!
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1 Comment
Why are you rooting so strongly for a turnaround? Why is the fact that some gazillionaire can buy a $7MM condo a hopeful sign for the market?
Prices became completely detached from economic reality. The reality is that most people can’t afford to buy a home in DC. Lower prices are beneficial to those who would like to buy a place, but don’t have the income to support an 800 sq ft condo costing $550K with an $800 condo fee.