Tag: Real Estate News

Peebles lines up financing for Mount Vernon Triangle hotel

D.C.’s long-planned SLS Hotel project is inching closer to breaking ground.  Developer Peebles Corp. has lined up financing with a large international lender, according to Donahue Peebles III, senior associate of development. He declined to identify the lender until the deal closes this spring.  Late last year, the financing was in question for the 175-room […]

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New Hilton above L’Enfant Metro will open in April

WASHINGTON — After sitting vacant for nearly six years, the former L’Enfant Plaza Hotel is set for its grand reopening as the Hilton Washington DC National Mall. The 15-story hotel comes back with 367 rooms and 23,000 square feet of meeting and event space. The former L’Enfant Plaza Hotel is set for its grand reopening […]

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City to spend $2.1M to buy, preserve neighborhood dog park

WASHINGTON (AP) — The city of Washington, D.C., is set to bid $2.1 million to buy and preserve a dog park in Columbia Heights, but critics are questioning the use of money. The Washington Post reports bids are due by the end of this month. The park sits on land being sold by the Washington […]

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Confounding reason first-time DC buyers can’t afford a fixer-upper

WASHINGTON — “First-time buyers are increasingly priced out of the D.C. housing market,” the headlines read again and again. They wouldn’t necessarily be, if they compromised on what they want. But experts say there’s a reason they don’t. Many first-time buyers want a picture-perfect, move-in ready condo, and they are paying for it. “A lot of […]

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Homes for sale in Foggy Bottom, West End jump 67 percent

WASHINGTON — Sales of houses and condos in the District were largely lower in December — with some neighborhood exceptions — but prices continued to rise and the number of homes listed for sale was up from a year ago. Inventory was significantly up in two D.C. neighborhoods. Long & Foster Real Estate said active […]

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Renters keep snapping up new DC-area apartment developments

WASHINGTON — Developers keep building new apartment buildings, and renters keep filling them, with no sign of a slowdown in demand. D.C.-based commercial real estate research firm Delta Associates says the Washington-area market’s net absorption of apartments, a measure of apartment rental activity, totaled almost 9,100 Class A apartment units in 2018, above the long-term […]

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Now leasing: Novel South Capitol has 42 penthouses, coworking space

WASHINGTON — Novel South Capitol, a new luxury apartment development sandwiched between Capitol Hill and Capitol Riverfront, with an on-site coworking space, has begun leasing with first move-ins expected in February. The 539-unit apartment building, at 2 I Street SE, has 42 penthouses and includes studio to three-bedroom units from 500 square feet to 1,800 […]

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Airbnb hosts in DC make an average $10,000

WASHINGTON — Airbnb hosts in the District will face strict new regulations this year about how often they can rent out their homes, but they had some nice side income from their Airbnb rentals in 2018, newly released figures show. Airbnb said hosts in the District earned $96 million last year, up from $82 million […]

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The Warner Building has sold for nearly $380M

The Warner Building has officially changed hands. JBG Smith Properties Inc. (NYSE: JBGS) has sold the 621,000-square-foot office building, located at 1299 Pennsylvania Ave. NW, to an affiliate of CBRE Global Investors for $376.5 million, according to the D.C. Recorder of Deeds. The 13-story Warner building is the 23rd-largest office building in Greater Washington, per […]

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LEON likes DC: Mount Vernon getting its 2nd US restaurant location

WASHINGTON — London-based fast food chain LEON, which opened its first U.S. location earlier this year at Washington Square at 1050 Connecticut Avenue, NW, will open a second location in Mount Vernon Square next spring. LEON, which calls its Mediterranean-leaning menu “Naturally Fast Food,” was co-founded by former Procter & Gamble executive John Vincent in […]

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LEON likes DC: Mount Vernon Square getting its 2nd US restaurant location

WASHINGTON — London-based fast food chain LEON, which opened its first U.S. location earlier this year at Washington Square at 1050 Connecticut Avenue, NW, will open a second location in Mount Vernon Square next spring. LEON, which calls its Mediterranean-leaning menu “Naturally Fast Food,” was co-founded by former Procter & Gamble executive John Vincent in […]

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DC-area home values up 40% since 2009

WASHINGTON — D.C.-area home sales hit monthly price records for November. Listing service Bright MLS said the median price of what sold in the D.C. region in November was $449,500 — up 5.9 percent from a year ago and a record high for the month of November. The median price was also up 5.5 percent […]

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DC-area home values up 40 percent since 2009

WASHINGTON — D.C.-area home sales hit monthly price records for November. Listing service Bright MLS said the median price of what sold in the D.C. region in November was $449,500 — up 5.9 percent from a year ago and a record high for the month of November. The median price was also up 5.5 percent […]

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DC-area home values up 40 pct. since 2009

WASHINGTON — D.C.-area home sales hit monthly price records for November. Listing service Bright MLS said the median price of what sold in the D.C. region in November was $449,500 — up 5.9 percent from a year ago and a record high for the month of November. The median price was also up 5.5 percent […]

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WeWork, Meridian buy Akin Gump building for $136.5M

WASHINGTON — The Meridian Group, through a joint venture with affiliates of WeWork Property Advisors, acquired 1333 New Hampshire Ave. NW in Dupont Circle from Boston Properties for $136.5 million. The 350,000-square-foot building is 84 percent leased by law firm Akin Gump Strauss Hauer & Feld, which is relocating to a new headquarters after 25 […]

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Alexandria leaders say Amazon won’t quash affordable housing

WASHINGTON — Alexandria officials are confident housing prices and rental rates won’t become unbearable when Amazon sets up shop in Crystal City — even with skyrocketing rent in Seattle, where the online retailer has deep roots. “People have looked at Seattle and said that’s what’s going to happen in Northern Virginia, but we’re a different […]

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PHOTOS: Historic Capitol Hill church becomes multimillion-dollar condos

WASHINGTON — A historic landmark church in Capitol Hill’s Stanton Park has been converted into six multistory luxury condos, all with unique original details, called The Bell Tower at Stanton Park.  The church at 609 Maryland Avenue, N.E. built in 1891 and 1892, was originally the Eastern Presbyterian Church. It was designed by renowned architect […]

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In DC, median home price now tops $600,000

WASHINGTON — The median price of a house or condo that sold in the District in October was $602,250, up 9.5 percent from a year ago and the highest October level on record in D.C. The Greater Capital Area Association of Realtors also notes fewer sales. The 742 closed residential sales in D.C. in October fell […]

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DC Council votes to put limits on home-sharing services such as Airbnb

WASHINGTON — After nearly two years of consideration, the D.C. Council approved a short-term rental bill Tuesday to regulate home-sharing services such as Airbnb. The bill would restrict short-term rentals to a property owner’s primary residence and limit rentals to 90 days a year. The bill passed unanimously, and it will be up to D.C. […]

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What Amazon’s HQ2 decision will mean for the area’s real estate market

WASHINGTON — Amazon’s selection of northern Virginia as the future home of half of its second headquarters is expected to have a dramatic impact on the area’s housing market as the company brings thousands of employees to the region. Cities across the country were originally competing for 50,000 jobs that were projected to come along […]

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Jobs coming to DC, but more housing needed

WASHINGTON — By 2045 the D.C. region will see an additional 990,000 new jobs. But unless there’s a push to build new housing, the employees coming to fill those jobs will struggle to find a place to live. That’s the upshot of the report from the Metropolitan Washington Council of Governments. According to COG’S forecast, […]

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Kalorama manse with a designer pedigree on the market for $5.3 million

WASHINGTON — A 7,000-square-foot, completely renovated Georgian Revival in Kalorama is on the market for $5,295,000 and comes with high-profile neighbors and a well-known designer’s touch. The four-bedroom home, at 2310 Tracy Place, NW, was built in 1914 and includes five-and-a-half baths, a huge entry gallery, breakfast and sunroom, library and office, and four fireplaces. […]

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