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A $350K Price Drop For DC’s Most Intriguing Lofts

by Lark Turner

A $350K Price Drop For DC's Most Intriguing Lofts: Figure 1
The Pierce School

Back in October, UrbanTurf covered the Pierce School lofts, quite possibly the most unique property we’d ever featured, shortly before it entered the market. But the $7.25 million listing price may have been a little ambitious, and the price tag was reduced this past weekend by $350,000.

Owners Jeff Printz and Chris Swanson bought the Pierce School at 14th and Maryland Avenue NE (map) from the city for just $275,000 in 2000. Seven lofts and a crazy-cool owner’s unit later, the former school served as Printz and Swanson’s home (as well as that of seven renters) for several years. Despite garnering plenty of attention — the Huffington Post said the renovation was enough to make them “really want to go back to school” — the building has yet to attract a buyer. In addition to the price reduction, the owners also threw in four years of free property management for the building’s rental units.

The price reduction gives us a reason to take a look at this renovation eye candy again. Check it out:

A $350K Price Drop For DC's Most Intriguing Lofts: Figure 2
The main living room

A $350K Price Drop For DC's Most Intriguing Lofts: Figure 3
The home office

A $350K Price Drop For DC's Most Intriguing Lofts: Figure 4
The kitchen

A $350K Price Drop For DC's Most Intriguing Lofts: Figure 5
One of the loft rentals

For more, see our previous post on the property here.

Here’s the nitty-gritty:

Full Listing: 1375 Maryland Avenue NE (map)
Price: $6.9 million
Year Built: 1894
Listing Agent: Peter Lane, TTR Sotheby’s International Realty

Photos courtesy HomeVisit.

See other articles related to: pierce school lofts, pierce school, lofts, dclofts, capitol hill

This article originally published at https://dc.urbanturf.com/articles/blog/a_one-of-a-kind_home_gets_a_price_drop/8043

5 Comments

  1. jno said at 9:32 pm on Monday January 27, 2014:
    That place is a bit of a mess. Good luck to you.
  1. SW, DC said at 9:48 pm on Monday January 27, 2014:
    I'd buy it. Just need about $7 million more. (I realize the asking price is now 6.9...)
  1. Judith K. Claire said at 1:56 pm on Tuesday January 28, 2014:
    If that is a "mess" it is my kind of mess- happy, exciting and forward looking - walk to Union Station! What a deal!
  1. Wali M said at 8:09 pm on Tuesday January 28, 2014:
    Great place. Very original. As a rental property the numbers just don't make sense at that asking price unless you are cool covering a huge deficit on your mortgage every month.
  1. NE Resident said at 9:16 pm on Tuesday January 28, 2014:
    Looking at DC's property system (PIVS), 1375 Maryland Avenue NE has no business licenses or certificates of occupancy, both of which are required to be a legal rental.

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