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Gtown Condo Sells for $7.295M, Possible New Record

by Mark Wellborn

Gtown Condo Sells for $7.295M, Possible New Record: Figure 1

Housing Complex is reporting that DC may have a new record for the highest priced condo sold in the city. A penthouse at the Georgetown Ritz-Carlton closed on March 11 for $7.295 million, according to the City Paper real estate blog.

From the City Paper:

“According to selling agent Christopher Ritzert with Coldwell Banker Georgetown, it was just put into the MLS system [on Monday night]. So, I think we have a new record-breaker here, folks! Penthouse 2D in the Georgetown Ritz-Carlton seems to be the new king.”

The fact that we are breaking records in this market is somewhat mind-boggling, but we hope that it is a sign of a turnaround!

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This article originally published at http://dc.urbanturf.com/articles/blog/gtown_condo_sells_for_7.295m_possible_new_record/678

1 Comment

  1. Keith said at 4:12 am on Tuesday April 14, 2009:
    Why are you rooting so strongly for a turnaround? Why is the fact that some gazillionaire can buy a $7MM condo a hopeful sign for the market? Prices became completely detached from economic reality. The reality is that most people can't afford to buy a home in DC. Lower prices are beneficial to those who would like to buy a place, but don't have the income to support an 800 sq ft condo costing $550K with an $800 condo fee.

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