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

A luxurious waterfront constructing in Washington, D.C., broke the file for the costliest condominium 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. ft of residing area, 5 full loos and two half baths. As well as, the condominium provides three parking areas.

The constructing – referred to as Amaris, which implies “you’re cherished” in Latin – has 96 condos. The record-setting unit is one among seven situated on the twelfth flooring.

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 gives D.C.’s greatest waterfront views. The delicate finishes and distinctive options, just like the spiral staircase with skylight, depart fairly an impression. One of the vital spectacular issues about this residence is the floor-to-ceiling home windows all through, particularly, the cold-warped glass home windows within the residing areas that provide the feeling of being projected into the view,” McCormick added.

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

This unit has 2,255 sq. ft 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 condominium is the second degree. “The area actually exemplifies the constructing’s curvilinear, tapering kind and evokes a way of motion; the lightness and transparency on this degree, coupled with its huge views of the Potomac River, makes you are feeling like you’re shifting by way of water,” he added.

The condominium 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 embrace a health and wellness heart, a salt-water lap pool, a convention room and a automotive elevator with valet service.

Mark McFadden, Compass govt vp and senior advisor in D.C., Maryland and Virginia, mentioned the earlier file for a condominium 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 properties above $1.5 million topped $2 million in March 2022 and dipped to simply 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 individuals with cash. I am in Palm Seaside, and I am in a one-bedroom condominium price $1.2 million. On the following block over from me [in December], billionaire Robert Kraft, proprietor of the New England Patriots, paid $24 million for a condominium,” McFadden added, “so individuals with cash really feel a lot 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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