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Georgetown Real Estate
Georgetown is one of DC’s most coveted addresses. Here are new condo and apartment buildings with units on the market.
With its river views and brick sidewalks, Georgetown has long been one of Washington’s most sought-after neighborhoods. Many of the Federal, Victorian, and Colonial rowhouses date to the 18th and 19th centuries, giving the neighborhood a character that draws people in. “The homes are meticulously kept,” says Long & Foster agent Michael Gerrior. “Planter boxes and trees decorate the lawns.”
Wisconsin Avenue and M Street are lined with boutiques and restaurants. Three parks—Rose, Montrose, and Volta—provide a respite from city bustle.
It may be unsurprising that Georgetown is one of the region’s most expensive places to live. Despite the real-estate slowdown, median sales prices in the 20007 Zip code have held steady, even climbing slightly from $710,00 in 2006 to $725,000 in 2009.
Prices for rowhouses usually start around $900,000, says Lucinda Treat, an agent with Evers & Co. Large restored homes and new luxury condos along the waterfront can command millions—in June, a 5,500-square-foot two-bedroom on the Potomac sold for $5.5 million.
Small condos in older buildings along side streets can go for $500,000 or $600,000, says Federico Glucksmann, a Coldwell Banker agent. But bargain-minded buyers often make sacrifices such as forgoing a parking space.
Georgetown and its surrounding neighborhoods also have new condos and townhouses for sale as well as rental apartments.
Buyers at the Victorian-style townhouses of Wormley Row (3325 Prospect St., NW; 202-966-8838) can customize their home’s layout and finishes. Amenities in the four-level houses include white-oak floors, granite countertops, a landscaped private garden, and two underground parking spaces. All six townhouses are still available. Prices range from $3,945,000 to $4,995,000.
Near the border between Georgetown and the West End, the condominiums at 2501 Pennsylvania Avenue (2501 Pennsylvania Ave., NW; 202-713-8105) offer hardwood floors and Italian Poliform walk-in closets. Convenience is a selling point: A Trader Joe’s grocery store is across the street, and each condo comes with two underground parking spaces. Five of the 16 condos are still available. Two- and three-bedrooms start around $2 million, while a two-story penthouse with a library is almost $4 million.
The rooftop terrace of West End 25 (1255 25th St., NW; 202-775-9325)—also just outside Georgetown—features a swimming pool and panoramic views of that neighborhood, Rock Creek Park, and the Washington skyline. The ten-story rental building, completed in August 2009, was built by repurposing two adjacent six-story office buildings. The apartments have floor-to-ceiling windows and stainless-steel appliances, and many have balconies. Twenty-one of the 283 units are still available. Rents range from $2,450 a month for one bedroom to $7,500 for two.
When completed, Residences on the Avenue (2221 I St., NW; 202-747-0081), near Washington Circle, will boast a rooftop pool, fitness center, and landscaped courtyard. Above a new Whole Foods market, the two 12-story towers will hold 335 studio, one-bedroom, two-bedroom, and three-bedroom rental apartments with granite countertops, hardwood floors, and stainless-steel GE appliances. Preleasing starts in March for a May move-in. Rents haven’t been set.
A couple of blocks to the north are the condominiums at 22 West (1177 22nd St., NW; 202-333-3313), which won Residential Architect magazine’s 2009 award for best multifamily design. The sleek condos have floor-to-ceiling windows, Poggenpohl cabinetry, and EcoTimber oak floors. Residents have access to a rooftop pool, underground parking, and a 24-hour concierge and doorman. Twenty-six of the 92 units are still available, ranging from $882,500 for a one-bedroom plus den to $2.7 million for a penthouse with three bedrooms, three bathrooms, and a den.
This article first appeared in the March 2011 issue of The Washingtonian.