Prices Keep Dropping at The Erie
UrbanTurf has learned that the prices at The Erie condominium in Adams Morgan have dropped again.
Carl Becker, the principal broker at the development, said that one-bedrooms initially listed at $554,000 and reduced to $465,000 about a month ago, are now selling for $442,000; two-bedrooms originally listed at $1.023 million then reduced to $845,000 are now at $775,000; and the two-bedroom penthouse that was initially priced at $1.23 million then marked down to $1.05 million is now listed at $975,000.
Becker said the development recently secured a portfolio lender that can do the jumbo loans that many people will require to buy at The Erie. He said that the new loans, combined with the recently lowered prices has resulted in renewed interest in the condos. (The development is currently in negotiations on two units.)
The eight-unit condo development was built in 2008 by DB Lee Development, and it sits just off 18th Street at 2351 Champlain Street NW (map). The penthouse features a hot tub, wet bar, half-bath, outdoor shower and a rooftop patio.
To read our posts on previous price reductions at The Erie, click here and here.
See other articles related to: dclofts
This article originally published at https://dc.urbanturf.com/articles/blog/prices_keep_dropping_at_the_erie/837.
Most Popular... This Week • Last 30 Days • Ever
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Today, UrbanTurf is examining one of our favorite metrics regarding competition in th... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
- The 4 Projects In The Works Near DC's Starburst Intersection
- What Are the Annual Maintenance Costs When You Own a Home?
- The 6 Places In The DC Area Where You Aren't The Only One Bidding On a Home
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro