Home | Newsletter | Advertise
loading...

The Six-Month, $350,000 Bump in Georgetown

  • July 6th 2015

by UrbanTurf Staff

The Six-Month, $350,000 Bump in Georgetown: Figure 1
1055 High

If you need further proof that DC’s uber high-end residential market is looking more like New York by the day, here it is.

Unit 4W, a 3,300 square-foot, three-bedroom condominium at the new luxury residential building 1055 High in Georgetown, sold last week for $5 million. The sale comes just six months after the unit originally sold for $4.65 million, making for a tidy $350,000 increase in valuation for the owner since December.

The Six-Month, $350,000 Bump in Georgetown: Figure 2
Unit 4W

It should be noted that demand for the condos at 1055 High, a seven-unit luxury project at 1055 Wisconsin Avenue NW (map), was substantial when they hit the market last year. Priced between $3.6 and $5.5 million, all the condos went under contract within three weeks of hitting the market, and each sold to an all-cash buyer paying substantially over list price.

The Six-Month, $350,000 Bump in Georgetown: Figure 3

However, the more notable thing about the transaction is how rapidly the unit was put back on the market — one month — after it was originally sold. Perhaps these type of quick-hit, for-profit real estate transactions are no longer limited to the Big Apple and Los Angeles.

The Six-Month, $350,000 Bump in Georgetown: Figure 4

This article originally published at https://dc.urbanturf.com/articles/blog/the_six-month_350000_bump_in_georgetown/10081.

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. Visit guides.urbanturf.com or start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse