Sponsored Post: The Developer's Penthouse at The Lacey Must Be Sold By June 7th

• June 1st 2010

by UrbanTurf Staff

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The developer’s own penthouse unit at The Lacey has hit the market at $599,900, a price that the sales team says is probably “$100,000 less than it should be.” The reason for the aggressive pricing is that the developer absolutely needs to sell by Monday, June 7th.

The unit is a two-bedroom, one-bath penthouse on the west-facing side of the building. It is #403 on the fourth floor, and includes a loft and spectacular outdoor terrace of over 300 square feet. It is approximately 1,260 square feet inside, which puts the price-per-square-foot in the $480 range, well below the neighborhood’s average of $574. If you consider the included parking space, which typically sells for $40,000, the price-per-square-foot comes out even lower, to $444.

The developer chose the unit for himself, which speaks to how great a space it is. (See the full listing on Redfin.)

The penthouse will be open on Saturday and Sunday from 2 to 4pm. The unit must be sold, so interested buyers are encouraged to bring all offers, which will be accepted until 5pm on June 7th.

The Lacey is an FHA-approved 26-unit boutique condominium that delivered last year in the U Street Corridor. Arguably the most distinctive residential building constructed in the DC metropolitan area, it sits at 11th and Florida Avenue, just three blocks from the U Street Metro and the neighborhood’s many restaurants, bars, and shops.

The Lacey is a unique and progressive building by any standard, but especially in DC, where the architecture tends to look back rather than forward. It was done by renowned local architect Division1 Architects, who took a very contemporary approach to its design. From the outside, it looks as though boxes were stacked on top of one another. DC Modern Living magazine compared the design to that of Dutch artist Piet Mondrian who used a similar format with his art. The building has a rooftop deck with panoramic views of the city, Washington Monument, and Capitol.

Below are photos of the unit interiors and the building itself.

Aside from this penthouse, there are just three units left at The Lacey. New pricing was recently released for all of them:

	Description	Sq. Ft.	New Price	Condo Fees
Unit 101	2 BR, 2 BA den with 2 patios	1,800/550	$725,000	$474.34
Unit 103	1 BR, 1 BA duplex with patio	1,140	$529,900	$345.93
Unit 106	2 BR, 2 BA duplex	1,360	$599,900	$473.73
* Uncovered parking deeded separately for $40,000.

This article originally published at https://dc.urbanturf.com/articles/blog/the_developers_penthouse_at_the_lacey_must_be_sold_by_june_7th/2119.