Home | Newsletter | Advertise
loading...

Want to Sell Condos? Follow Moderno's Lead

  • February 4th 2009

by Mark Wellborn

✉️ Want to forward this article? Click here.

Moderno, a 19-unit condo development in the U Street Corridor, did not have a grand opening party and does not hold open houses. The only marketing seems to be a lone sign on the side of the building. Surprisingly, this approach seems to be the key to selling new condos in DC.

Housing Complex had a post earlier today about how successful Moderno on the corner of 12th Street and U Street has been in selling units as other developments struggle to get rid of their existing inventory.

Ten of the units (which range in price from $350,000 to $1.2 million) are under contract at the development, according to Housing Complex, and sales manager Timur Loynab has given 13 tours of units in the last two weekends.

However, a sign on a building cannot sell units on its own, so what are the secrets of Moderno’s success? Here are a few, according to Housing Complex:

  • Locate your building roughly 60 steps from Ben’s Chili Bowl
  • Build it on top of the Metro
  • Find buyers who promote you to their “friends”
  • Go to Italy (???)

For a more extensive explanation as to why these things worked (particularly the last one), click here.

This article originally published at https://dc.urbanturf.com/articles/blog/want_to_sell_condos_follow_modernos_lead/520.

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

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