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

A high-end waterside structure in Washington, D.C., climaxed for the most pricey condominium sale in the city’s history, costing $12.762 million previously this month.

The split-level, four-bedroom Penthouse 1 has about 5,800 square feet of living area, 5 complete restrooms and 2 half baths. In addition, the condominium provides 3 parking areas.

The structure– referred to as Amaris, which indicates “you are enjoyed” in Latin– has 96 apartments. The record-setting system is among 7 situated on the 12th flooring.

The late, globally renowned designer Rafael Viñoly created the structure.

Michelle Giannini, a broker for Hoffman Real estate, represented the listing for co-developers Hoffman & & Associates and Madison Marquette. She stated the structure opened in December and has to do with 70% offered.

Matt McCormick of TTR Sotheby’s International Real estate represented the unnamed purchaser and stated the residential or commercial property right away mesmerized the buyer.

” It’s quickly the highest-end high-end penthouse in the city. The big outside balcony ignoring the water with The Wharf listed below offers D.C.’s finest waterside views. The advanced surfaces and distinct functions, like the spiral staircase with skylight, leave rather an impression. Among the most amazing aspects of this house is the floor-to-ceiling windows throughout, in specific, the cold-warped glass windows in the home that offer you the sensation of being predicted into the view,” McCormick included.

The Wharf, where Amaris lies, is a $3.6 billion advancement including hotels, parks, piers, stores and dining outlets.

This system has 2,255 square feet of outside area, consisting of a 1,200-square-foot outside balcony.

Jay Bargmann, vice president of Rafael Viñoly Architects, stated his preferred area in the condominium is the 2nd level. “The area genuinely exhibits the structure’s curvilinear, tapering kind and stimulates a sense of motion; the lightness and openness on this level, paired with its huge views of the Potomac River, makes you seem like you are moving through water,” he included.

The condominium includes customized Italian kitchen area cabinets, French European white oak floor covering with a light and dark surface, marble counter tops in the kitchen area with waterfall edge islands and premium devices from Thermador and Bosch.

Features consist of a physical fitness and health center, a salt-water swimming pool, a meeting room and a cars and truck elevator with valet service.

Mark McFadden, Compass executive vice president and senior consultant in D.C., Maryland and Virginia, stated the previous record for a condominium was $11 million in 2022. For single-family residential or commercial properties, the Bowie-Sever Home, a Georgetown residential or commercial property, noted for $28 million in 2007 and cost $24 million. And McFadden closed on a $22 million D.C. estate in 2011.

” That residential or commercial property is now worth $40 million. However the existing market is great. Stock is still low, with high need throughout every rate variety,” McFadden stated, including that average sales in D.C. for houses above $1.5 million topped $2 million in March 2022 and dipped to simply under $1.9 million in March 2023.

” Specifically in the upper end, due to the fact that of the changes in our existing market, with the stock exchange and inflation, property is still the favored property class for individuals with cash. I remain in Palm Beach, and I remain in a one-bedroom condo worth $1.2 million. On the next block over from me [in December], billionaire Robert Kraft, owner of the New England Patriots, paid $24 million for a condo,” McFadden included, “so individuals with cash feel better today putting their cash in property versus the stock exchange. Today, it’s thought about the most safe location to park your cash.”