The Somerset House, an 84-unit building at 16th and S Street NW (map), is converting from rentals to condos, UrbanTurf has learned.
The building, constructed by Harry Wardman in 1917, will open to potential buyers on May 10th, but each unit will be customized based on a selection of kitchen and bathroom styles, which means that the condos will deliver 90-120 days after contracts are signed and customizations are complete.
Many of the apartments at Somerset House are now vacant, and some of the existing tenants will buy their units, so not all 84 apartments will be listed for sale.
"Tenacity has worked with the Somerset Tenant Association (STA) for nearly ten years through the various ups and downs of the market. Because there are many different interests within the STA, it was a bit of a challenge to make everyone happy," Tenacity's John Fitzgerald wrote to UrbanTurf in an email. "A number of residents have had long tenancies at Somerset House, and will purchase their units and remain after the conversion as owners." Fitzgerald also wrote that it was his understanding that a number of tenants had taken buyouts to vacate their units.
In preparation for the conversion, new plumbing, HVAC and electric systems were installed, as well as a new roof and windows. Much of the building is being preserved, including the original 1917 wood floors, and the owners hired a group of artists to reconstruct the marble lobby, including the frieze around the ceiling. The units will be priced ranging from $250,000 to $1.3 million.
This article originally published at http://dc.urbanturf.com/articles/blog/84-unit_condo_conversion_coming_to_dupont_circle/8386
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