What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
Roundup: What $42 Million Buys You
- New York’s Curbed reports on a $42 million penthouse triplex that just hit the market. As if its five bedrooms, Upper East Side location on 5th Avenue, and stunning views of Central Park weren’t enough, the mansion-in-the-sky also sports a private elevator and a 1,200-square-foot terrace — roughly equivalent to a generously-sized two-bedroom in DC. Despite all this glory and glamour, New York’s real estate gurus don’t think it will sell any time soon. After all, says the agent, “At this price, there aren’t that many buyers.” Really?
- Alexandria’s city council approved a rezoning plan of the Potomac Yard stretch along Route 1. The plan envisions a high-density, mixed-use corridor with a new Metro station as its anchor. It will occur in three phases over the next 15 to 25 years. Reception to the plan is generally enthusiastic. Beyond DC wrote: “Redevelopment in Potomac Yard will finally stitch together the walkable nodes of Crystal City and Old Town Alexandria into one continuous 5-mile long corridor of urbanity. By just about any measure, this new conglomeration will be the largest mass of walkable urbanism in the region, after central DC.”
- To the certain delight of Apple fans throughout the District, the city’s first Apple store opens tomorrow in Georgetown. Look for the first photos of the store on UrbanTurf tomorrow.
Imminent Apple Store on Wisconsin. Photo courtesy The Georgetown Metropolitan.
- The Wall Street Journal wonders whether home builder Lennar’s most recent offer of 3.25 percent mortgages is a sign that aggressive advertising by builders is coming back. Industry watchers consider Lennar a leader in marketing and pricing, rolling out offers that the rest of the industry soon copies. Its current offer applies to already-built homes and is 3.25 percent for five years, after which the rate can rise by as much as one percent annually to a maximum of 8.25 percent. For unbuilt homes, Lennar is offering a 30-year fixed at 3.99 percent.
- Lennar’s promotion aside, mortgage rates stayed essentially the same this week (4.82%). But other barometers of the national home market were negative: both housing starts and new building permits saw big declines, reinforcing the view that much of strength seen in the real estate market this spring went away with the tax credit.
Finally, here are UrbanTurf’s three most popular posts of the last week in case you missed them:
- Room & Board Finally Arrives on 14th Street
- Sold: The Kalorama Digs of Top Chef DC
- Rosedale: Ripe for Investment Right About Now
See other articles related to: weekly roundup
This article originally published at https://dc.urbanturf.com/articles/blog/roundup_what_42_million_buys_you/2179.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Today, UrbanTurf is examining one of our favorite metrics regarding competition in th... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- The 6 Places In The DC Area Where You Aren't The Only One Bidding On a Home
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
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