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 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 dwelling house, 5 full bogs and two half baths. As well as, the condominium gives three parking areas.

The constructing – often called Amaris, which implies “you’re beloved” in Latin – has 96 condos. The record-setting unit is one in every of 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 stated the constructing opened in December and is about 70% bought.

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

“It is simply the highest-end luxurious penthouse within the metropolis. The massive outside terrace overlooking the water with The Wharf under 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. Probably the most spectacular issues about this residence is the floor-to-ceiling home windows all through, specifically, 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 situated, is a $3.6 billion growth that includes inns, parks, piers, retailers and eating shops.

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

Jay Bargmann, vice chairman of Rafael Viñoly Architects, stated his favourite house within the condominium is the second stage. “The house really exemplifies the constructing’s curvilinear, tapering type 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 transferring via water,” he added.

The condominium options customized Italian kitchen cabinetry, French European white oak flooring with a lightweight 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 vice chairman and senior advisor in D.C., Maryland and Virginia, stated the earlier report 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 superb. Stock continues to be low, with excessive demand throughout each worth vary,” McFadden stated, including that median gross sales in D.C. for houses above $1.5 million topped $2 million in March 2022 and dipped to simply beneath $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 a lot better proper now placing their cash in actual property versus the inventory market. Proper now, it is thought of the most secure place to park your cash.”

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