Penthouse Sale For $12.762 Million Breaks Washington, D.C., Condo Record

A luxurious waterfront constructing in Washington, D.C., broke the report for the most costly apartment sale within the metropolis’s historical past, promoting for $12.762 million earlier this month.

The split-level, four-bedroom Penthouse 1 has about 5,800 sq. toes of dwelling area, 5 full loos and two half baths. As well as, the apartment provides three parking areas.

The constructing – generally known as Amaris, which implies “you’re cherished” in Latin – has 96 condos. The record-setting unit is one in all seven positioned on the twelfth ground.

The late, internationally famend architect Rafael Viñoly designed the constructing.

Michelle Giannini, a dealer for Hoffman Realty, represented the itemizing for co-developers Hoffman & Associates and Madison Marquette. She mentioned the constructing opened in December and is about 70% bought.

Matt McCormick of TTR Sotheby’s Worldwide Realty represented the unnamed purchaser and mentioned the property instantly captivated the purchaser.

“It is simply the highest-end luxurious penthouse within the metropolis. The massive out of doors terrace overlooking the water with The Wharf beneath supplies D.C.’s greatest waterfront views. The subtle finishes and distinctive options, just like the spiral staircase with skylight, go away fairly an impression. Some of the spectacular issues about this residence is the floor-to-ceiling home windows all through, particularly, the cold-warped glass home windows within the dwelling areas that provide the feeling of being projected into the view,” McCormick added.

The Wharf, the place Amaris is positioned, is a $3.6 billion improvement that includes motels, parks, piers, retailers and eating shops.

This unit has 2,255 sq. toes of outside area, together with a 1,200-square-foot out of doors terrace.

Jay Bargmann, vp of Rafael Viñoly Architects, mentioned his favourite area within the apartment is the second stage. “The area really exemplifies the constructing’s curvilinear, tapering kind and evokes a way of motion; the lightness and transparency on this stage, coupled with its huge views of the Potomac River, makes you’re feeling like you’re shifting by way of water,” he added.

The apartment options customized Italian kitchen cabinetry, French European white oak flooring with a light-weight and darkish end, marble counter tops within the kitchen with waterfall edge islands and premium home equipment from Thermador and Bosch.

Facilities embody a health and wellness heart, a salt-water lap pool, a convention room and a automobile elevator with valet service.

Mark McFadden, Compass government vp and senior advisor in D.C., Maryland and Virginia, mentioned the earlier report for a apartment was $11 million in 2022. For single-family properties, the Bowie-Sever Home, a Georgetown property, listed for $28 million in 2007 and bought for $24 million. And McFadden closed on a $22 million D.C. property in 2011.

“That property is now price $40 million. However the present market is excellent. Stock continues to be low, with excessive demand throughout each worth vary,” McFadden mentioned, including that median gross sales in D.C. for houses above $1.5 million topped $2 million in March 2022 and dipped to only below $1.9 million in March 2023.

“Particularly within the higher finish, due to the fluctuations in our present market, with the inventory market and inflation, actual property continues to be the popular asset class for folks with cash. I am in Palm Seashore, and I am in a one-bedroom condominium price $1.2 million. On the subsequent block over from me [in December], billionaire Robert Kraft, proprietor of the New England Patriots, paid $24 million for a condominium,” McFadden added, “so folks with cash really feel significantly better proper now placing their cash in actual property versus the inventory market. Proper now, it is thought-about the most secure place to park your cash.”

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