The Dumont Goes Rental

by Mark Wellborn

The Dumont

Yesterday, we reported that The Dumont in Mount Vernon Triangle will be sold in April to Equity Residential and speculated whether the two-building development would be rentals or condos. An eagle-eyed UrbanTurf reader let us know that at least one of the towers at The Dumont is going rental.

Equity Residential’s website is already listing rates for 425 Massachusetts Avenue, and they aren’t cheap. See table below.

  Rent range Square footage
Studios $1,785 – $2,046 504 – 569
One-bedrooms $2,175 – $3,530 638 – 1,293
Two-bedrooms $3,685 – $6,750 1,090 – 1,717

In our opinion, these rates seem fairly high across the board. By comparison, rents for one and two-bedroom apartments at CityVista not far from The Dumont and Allegro Apartments in Columbia Heights range from $1,500 to $2,100, according to Kettler’s website. Both of these projects are also offering between 1.5 and two months free rent, so it seems that to be able to compete, The Dumont will need to offer similarly attractive incentives.

Similar Posts:

This article originally published at http://dc.urbanturf.com/articles/blog/the_dumont_goes_rental/1909


  1. Lauren said at 2:28 pm on Wednesday March 24, 2010:

    You’re not kidding those rents are “fairly high” - my eyes about popped out of head when I saw that table. At those rates I’d think they’d have to offer 3-4 months free rent, not just 1-2.

  1. SWester said at 4:56 pm on Wednesday March 24, 2010:

    @Lauren: It’s in line with most of the rent rates in the Penn Quarter high rises.  It’s an absurdly expensive area in general, which is surprising, given its suck-iness.

  1. SWester said at 5:11 pm on Wednesday March 24, 2010:

    Some evidence: I have friends at Mass Court paying $2100 for a tiny one-bedroom and others paying $1800 for a studio.  It’s insanity.

  1. Lauren said at 5:27 pm on Wednesday March 24, 2010:

    I know Chinatown/Penn Quarter is really expensive, but isn’t this more like Shaw/Mt Vernon Triangle? Not terribly far away but as a very different feel, IMO.

  1. SWester said at 7:23 pm on Wednesday March 24, 2010:

    It’s 2 blocks east of the Chinatown Arch, so I’d say it’s more of Chinatown than it is Mt. Vernon Sq., but it’s borderline, I suppose.  Not Shaw at all.

    My favorite part of the Dumont is the tiny, old, abandoned townhouse that is sandwiched between the enormous building next door and the Dumont itself. I’d love to know the story behind it.

  1. Mony said at 10:35 pm on Wednesday March 24, 2010:

    yeah those rates are about what I would think for a new, never-lived in building. CityVista to me feels farther out.

  1. Richko said at 1:43 am on Thursday March 25, 2010:
  1. Richko said at 1:45 am on Thursday March 25, 2010:
  1. mkivov said at 11:02 am on Thursday March 25, 2010:

    Mark and others, thanks for the scoop. My firm provides market research and consulting to residential developers and lenders and we have worked on a number of projects downtown. We follow your blog and appreciate the insight. We’ve had a very interested eye on the Dumont for a while, so thought I would add in some perspective.

    Absolutely, they will need to come out with concessions (but not 3+ months), that is the norm in the market. But CityVista and Allegro are not good comps. If you have been in all buildings, there is no comparison. The V at CityVista is actually one of the more affordable Class A properties in the market, which it should be based on inferior finishes. Dumont will have amongst the nicest finishes in the market (meaning all of Penn Quarter/downtown/Logan) and amongst the largest units. Effective rents (netting out concessions and utility differences) at more premier properties are over $3/sf, and 1BRs are low to even mid $2000s and 2BRs low $3000s.  (Excluding unique outliers like Ashton Judiciary and Newseum which are off the charts.) Netting out 1.5 to 2 months free at 425 Mass puts it in line with other premier properties, especially taking into account unit size. Scary, but true.

    Neighborhood is by definition of boundaries MVT, but as close to PQ as Mass Court and around corner from Meridian “at Gallery Place”. Rents refect supply and demand…while a few may perceive “suck-iness” in the neighborhood, apparently many do not. Full disclosure I live in K at CV and once had a contract at Dumont before it went belly up.

  1. Paul said at 6:13 pm on Thursday March 25, 2010:

    Do finishes really matter THAT much to renters? They never did to me when I rented because I never planned to rent at any one place > 2 years.

  1. Rowan said at 5:06 pm on Friday March 26, 2010:

    I just bought a 2 BR/1.5 bath house on the Hill and my current mortgage wouldn’t get me 700 square feet in this place.  Yeah, you’re paying for adjacency to the Penn Quarter/Downtown/Logan area (AND nice finishes).  But I’ve worked a couple of blocks from this place for the last 10 years and, well, the neighborhood still seems a little scruffy for these rates.

  1. Diane Adams said at 12:22 am on Friday May 14, 2010:

    As one guy said the amount of units at Dumont if turned into condos would be ~ $304,000.  The Dumont should go for condos instead of leasing.  The leasing price is too too hight, especially when people are trying to get back on their feet dealing with the economy and cost of living.  Where do these people think the normal person is getting all of this money from a tree factory in a yard to pay for high rent.  No, No, The Dumont should convert back to condos instead of rental, it much cheaper and they would probably get a better response.  I know I would respond.  Also as was person said, who want to pay amount of money per month for a small apartment, please be real with the costs, people do have to eat, pay untilies, pay metro, gas and other things in life besides taking all of their income to put in rent for month.  How do you expect people to surive.  Excuse the mispelled words.

Join the discussion

UrbanTurf now requires registration in order to post comments. Register here, or login below if you are already registered.

Click here if you forgot your password.

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. Visit guides.urbanturf.com or start browsing below!

Northern Virginia

Profiles of 14 neighborhoods across Northern Virginia

Looking to Give People A Reason to Stay Past 6pm
Happily Straddling the Line Between City and Suburb
Columbia Pike
Arlington’s Neglected Stepchild is Getting a Makeover
Crystal City
Turning Lemons into Lemonade
Lyon Village
Developing An Air of Exclusivity?
Hitting Its Growth Spurt
An Urban Village Hitting Its Stride
Del Ray
Virginia’s Small Town Near the Big City
Eisenhower Avenue
The Vibrancy Might Take a Few Years
The Quiet Neighborhood By the Beltway
Old Town
Mayberry By The Potomac
132 Commerical-Free Acres
Downtown Falls Church
Staying the Same in the Midst of Change
Tysons Corner
Radical Change Could Be On The Way

See more Northern Virginia »


Profiles of 14 neighborhoods in suburban Maryland

Small-Town Living in the State Capital
Bedroom Community Gets Buzzing Cache
Cabin John
In With The New While Maintaining the Old
Chevy Chase
Affluence, Green Lawns and Pricey Homes
Downtown Silver Spring
Experiencing a Resurgence After a Bumpy History
A Suburb on Steroids
Rockville Town Square
Despite the Dynamism, Still Somewhat Generic
Takoma Park
More Than a Little Bit Quirky
A Foodie Magnet on the Verge of Change
Capitol Heights
Kudzu, Front Porches and Crime
Glass Half Full or Half Empty?
Mount Rainier
Artists, Affordable Homes and A Silo Full of Corn
National Harbor
A Development Rises Next to the Potomac
Riverdale Park
A Town Looking For Its Identity

See more Maryland »

Northwest DC

30+ neighborhood profiles for the city's biggest quadrant

16th Street Heights
DC's Sleeper Neighborhood
Where (Almost) Everyone Knows Your Name
AU Park
One of DC’s Last Frontiers Before the Suburbs
DC’s Northern Neighborhood on the Cusp
DC’s 535 House Neighborhood
Cathedral Heights
Do You Know Where That Is?
Chevy Chase DC
Not to Be Confused With the Other Chevy Chase
Cleveland Park
Coming Back After A Rough Year
Columbia Heights
DC’s Most Diverse Neighborhood, But For How Long?
An Island of Serenity East of the Park
Dupont Circle
The Best of DC (For a Price)
Foggy Bottom & West End
Where the Institutional Meets the International
Forest Hills
Ambassadors and Adventurous Architecture
Fort Totten
Five Years Could Make a Big Difference
Foxhall Village
350 Homes Just West of Georgetown
Friendship Heights
A Shopping Mecca With a Few Places to Live
History, Hoyas and H&M
Glover Park
One of DC’s Preppier and More Family-Friendly Neighborhoods
A Posh View From Embassy Row
LeDroit Park
A Quiet Enclave in the Middle of the City
Logan Circle
Trendy Now, But Not By Accident
Mount Pleasant
Sought-After Homes Surround Main Street in Transition
Mount Vernon Triangle
From Seedy to Sought-After
The Long, Skinny Neighborhood at the City’s Northwest Edge
Park View
It’s Not Petworth
Penn Quarter/Chinatown
DC’s Go-Go-Go Neighborhood
Getting a Vibrancy of Its Own
The Duke’s Former Stomping Ground
Shepherd Park
DC’s Garden of Diversity
Spring Valley
A Suburb With a DC Zip Code
Not To Be Confused With Takoma Park
Not Quite Like Its Neighbors
U Street Corridor
The Difference a Decade Makes
Woodley Park
Deceptively Residential
Adams Morgan
No Longer DC’s Hippest Neighborhood, But Still Loved by Residents

See more Northwest DC »

Southwest DC

The little quadrant that could

Southwest Waterfront
A Neighborhood Where A Change Is Gonna Come

See more Southwest DC »

Northeast DC

Profiles of 10 neighborhoods in NE

New Development Could Shake Up Pastoral Peace
A Little Bit of Country Just Inside the District’s Borders
Not to Be Confused With Bloomingdale
H Street
A Place To Party, and To Settle Down
The Northeast Neighborhood That Few Know About
Michigan Park
A Newsletter-On-Your-Doorstep Community
Evolving from a Brand to a Neighborhood
Ripe for Investment Right About Now
The Difference 5 Years Makes
Big Houses, A Dusty Commercial Strip and Potential

See more Northeast DC »

Southeast DC

6 neighborhoods from Capitol Hill to East of the River

Capitol Riverfront
Still Growing
Hill East
Capitol Hill’s Lesser Known Neighbor
Congress Heights
Gradually Rising
Notable for Its Neighborliness
Historic Anacostia
Future Promise Breeds Cautious Optimism
Eastern Market
A More European Way of Living

See more Southeast DC »

Upcoming Seminars ▾