The Dumont’s Second Tower Goes Rental, Starts Lease-Up This Weekend

by Will Smith

401 Mass, opening as rentals

UrbanTurf has learned that the second tower of what was once known as The Dumont will go rental. Located at 401 Massachusetts Avenue NW in Mount Vernon Triangle (map), the tower will complement its next door neighbor, 425 Mass, which started leasing up earlier this spring.

Robert Grealy of Chicago-based Equity Residential announced today that lease-up at 401 Mass will begin this Saturday October 2nd. Potential residents will be able to tour apartment homes beginning on that day, with move-ins expected as early as mid-November.

“425 Mass Apartments is leasing at record pace,” Grealy stated in a press release. “The property, which has a total of 559 units, is currently 50% leased. Because of the tremendous success of the community, we are opening the second tower well ahead of schedule and introducing new floor plans and additional common area amenities to the marketplace.”

425 Mass, the first tower of the former Dumont

Six months ago, one of the DC real estate boom’s biggest casualties, The Dumont, was rechristened and re-released on the market as a rental project called 425 Mass. The two-tower, 559-unit project was originally planned as condos, but when it couldn’t sell enough units, the bank took possession and its fate became the subject of speculation for over a year. In March of this year, Equity Residential acquired the property with immediate plans to turn the larger of the two towers at 425 Massachusetts Avenue (map) into Class A apartments.

With new ownership, new name, and new strategy, 425 Mass began leasing units in April. Despite skepticism that it would be able to charge the rents it was asking (studios from $1,785, one-bedrooms from $2,175), in July word came that in fact the building had been filling up quickly. Specifically, it had signed leases with 182 new tenants within its first 90 days — roughly 60 leases per month.

This article originally published at http://dc.urbanturf.com/articles/blog/the_dumonts_second_tower_goes_rental_starts_lease-up_this_weekend/2520


  1. Jordan said at 2:53 pm on Thursday September 30, 2010:

    Still shocked that they are filling these places up at those prices. The immediate neighborhood doesnt justify these rental rates. It must be the bldg amenities that are selling this place. Im not saying that the area is sketchy, but there arent really many neighborhood amenities like bars, restaurants, coffee shops, retail, arts, shows etc. Unless you consider this part of Chinatown.

  1. Eric said at 3:07 pm on Thursday September 30, 2010:

    I have lived in 425 Mass for about two months. The location to my job near the Verizon center is the reason I chose to live here, but I have found that the building is really well thought out and the people living here are (for the most part) very nice.

  1. Paul said at 6:11 pm on Thursday September 30, 2010:

    @Jordan - These apartments are about 3 blocks from the epicenter of Chinatown. Plus City Vista is 1 block away and offers several amenities including a large grocery store.

  1. Jordan said at 9:15 pm on Thursday September 30, 2010:

    @Paul - Yes, even more to my point, the studios at the V at City Vista were being offered at around $350 less per month ($1429) then the studios at 425 Mass. And there you would be right on top of Safeway, Busboys and closer to Chinatown for around $4,200 less a year. Thats why I am surprised. Admittedly, I dont know what studios are currently going for at the V. The $1429 was the rate in 2009.

  1. sadkk said at 3:18 pm on Monday October 4, 2010:

    What happened to the few that did buy at The Dumont before it became a rental building. Did they get to keep their units or did they give them their money back?

  1. dave said at 3:24 pm on Monday October 4, 2010:

    I think the pictures are reversed.  I live across from the one at the corner of mass/4th which is shown in the bottom picture.

    I don’t know which address that is considered, but it’s the one that will going up for lease.  The other building which actually sits at the corner of Eye and 4th NW has been leased.  That building looks full.  Regardless, my property values are happy that this entire project went Lease.

  1. Paul said at 3:49 pm on Tuesday October 5, 2010:

    Dave is correct regarding 401 Mass versus 425 Mass.

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