Market Conditions in 20001>Question Details

Mighty_E, Home Buyer in 22202

Any updates on the 400 Mass and the area?

Asked by Mighty_E, 22202 Thu Aug 7, 2008

Any updates on the 400 Mass and the area?

I have seen the post regarding the 400 Mass Ave (this was an April post), and I’m wondering what your thoughts are now - have things changed? I actually looked to buy at the DuMont (making an offer on the unit 1209 (1 bedroom, about 740 sqf in size) and got a counter offer from the builder for 350k (no parking) – I think it is little bit too high... I’m also looking at the 555 Mass – and this building seems ripped with speculators including Korean investors (one of the realty companies is named Hyundai – and from I’m able learn from their web site – their business model dependent on selling real-estate to Korean investors)… What about City Vista – they had listed some units that did not close at 369k (1 bedroom den) in the L building… Any thoughts as to where the prices may go (it seem that there are few banked owned properties in 400 Mass and soon in 555 Mass).

Help the community by answering this question:

Answers

2
Wes Grooms’ answer
Also - check out this blog - very informative for the entire downtown market. http://www.pgliving.com the archives will have stories about other soon to come development along 5th Street NW just north of K Street NW
Web Reference: http://www.pqliving.com
0 votes Thank Flag Link Fri Aug 22, 2008
Prices are probably close to bottom in that area. City Vista "L" bldg closed out 1br+den including parking at the $369K you cite. That kind of layout including parking, with gas cooking is a real bargain. Prices further south in Penn Qtr will be nearly or more than $500K for the same space without parking. City Vista "L" sales office called me because they had a 1BR including parking come back at $320K on 10th floor - it has been a couple of weeks since I had the call so I do not know if it is still available. Lots of building styles in that area. I think in a few months once the stores open up (Safeway, Results Gym, etc.) their sales will probably pick up even more. Really good pricing in that area right now.
0 votes Thank Flag Link Fri Aug 22, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer