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A Dupont Circle Mansion, A President's Niece and a $525,000 Premium
While six-figure premiums for homes in DC aren't necessarily a rarity, they still occasionally surprise us.
This week, a six-bedroom historic property at 1716 New Hampshire Avenue NW (map) closed for more than a half-million dollars above the original asking price. Listing agents Meredith Margolis and Jennifer Touchette of The P&rtners and Mark McFadden of McFadden Partners priced the house conservatively at $2.75 million because of a unique condition the house carries: with its historic status via the National Historic Trust (NHT), the house is one of three in DC with a first-floor easement which prohibits any changes to the interior floorplan or subdivisions of the property.
"We felt the price had to reflect the limitations," Margolis explained. "We were surprised regarding the favorable response." The listing ended up garnering eight offers largely from buyers attracted to its historic status. The winning all-cash, no-contingency offer came in at $3.275 million.
The tan limestone house was designed by DC architect Clark Waggaman in 1910 for President Martin Van Buren's niece. The most recent owners enlisted historians and architects to help them restore the house to its Louis XVI style, incorporating Sienna marble mantles and fireplaces, a skylit three-story staircase, a French Renaissance-style library with Phillipine mahogany bookcases and a limestone panel fireplace. The house also has quirky original features, like a hidden staircase into the basement from the front hall, and more modern conveniences, like an interior garage.
The new owners get a little bonus as well: annual visits from NHT staff to confirm the interior remains consistent and in good repair.
Photos courtesy of Peter Evans of Peter Evans Photography.
Correction: The article previously reported the winning offer as $3,250,000; the winning offer was for $3,275,000.
See other articles related to: above asking, dupont circle, easement, historic preservation, national historic trust
This article originally published at https://dc.urbanturf.com/articles/blog/a-dupont-circle-mansion-a-presidents-niece-and-a-premium/15729.
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