Yesterday, we reported that The Dumont in Mount Vernon Triangle will be sold in April to Equity Residential and speculated whether the two-building development would be rentals or condos. An eagle-eyed UrbanTurf reader let us know that at least one of the towers at The Dumont is going rental.
Equity Residential’s website is already listing rates for 425 Massachusetts Avenue, and they aren’t cheap. See table below.
|Rent range||Square footage|
|Studios||$1,785 – $2,046||504 – 569|
|One-bedrooms||$2,175 – $3,530||638 – 1,293|
|Two-bedrooms||$3,685 – $6,750||1,090 – 1,717|
In our opinion, these rates seem fairly high across the board. By comparison, rents for one and two-bedroom apartments at CityVista not far from The Dumont and Allegro Apartments in Columbia Heights range from $1,500 to $2,100, according to Kettler’s website. Both of these projects are also offering between 1.5 and two months free rent, so it seems that to be able to compete, The Dumont will need to offer similarly attractive incentives.
This article originally published at https://dc.urbanturf.com/articles/blog/the_dumont_goes_rental/1909.
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