Real Estate

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

A luxury waterfront building in Washington, D.C., broke the record for the most expensive condo sale in the city’s history, selling for $12.762 million earlier this month.

The split-level, four-bedroom Penthouse 1 has about 5,800 square feet of living space, five full bathrooms and two half baths. In addition, the condo offers three parking spaces.

The building – known as Amaris, which means “you are loved” in Latin – has 96 condos. The record-setting unit is one of seven located on the 12th floor.

The late, internationally renowned architect Rafael Viñoly designed the building.

Michelle Giannini, a broker for Hoffman Realty, represented the listing for co-developers Hoffman & Associates and Madison Marquette. She said the building opened in December and is about 70% sold.

Matt McCormick of TTR Sotheby’s International Realty represented the unnamed buyer and said the property immediately captivated the purchaser.

“It’s easily the highest-end luxury penthouse in the city. The large outdoor terrace overlooking the water with The Wharf below provides D.C.’s best waterfront views. The sophisticated finishes and unique features, like the spiral staircase with skylight, leave quite an impression. One of the most spectacular things about this residence is the floor-to-ceiling windows throughout, in particular, the cold-warped glass windows in the living spaces that give you the feeling of being projected into the view,” McCormick added.

The Wharf, where Amaris is located, is a $3.6 billion development featuring hotels, parks, piers, shops and dining outlets.

This unit has 2,255 square feet of outdoor space, including a 1,200-square-foot outdoor terrace.

Jay Bargmann, vice president of Rafael Viñoly Architects, said his favorite space in the condo is the second level. “The space truly exemplifies the building’s curvilinear, tapering form and evokes a sense of movement; the lightness and transparency on this level, coupled with its vast views of the Potomac River, makes you feel like you are moving through water,” he added.

The condo features custom Italian kitchen cabinetry, French European white oak flooring with a light and dark finish, marble countertops in the kitchen with waterfall edge islands and premium appliances from Thermador and Bosch.

Amenities include a fitness and wellness center, a salt-water lap pool, a conference room and a car elevator with valet service.

Mark McFadden, Compass executive vice president and senior advisor in D.C., Maryland and Virginia, said the previous record for a condo was $11 million in 2022. For single-family properties, the Bowie-Sever House, a Georgetown property, listed for $28 million in 2007 and sold for $24 million. And McFadden closed on a $22 million D.C. estate in 2011.

“That property is now worth $40 million. But the current market is very good. Inventory is still low, with high demand across every price range,” McFadden said, adding that prices in D.C. for homes above $1.5 million topped $2 million in March 2022 and dipped to just under $1.9 million in March 2023.

“Especially in the upper end, because of the fluctuations in our current marketplace, with the stock market and inflation, real estate is still the preferred asset class for people with money. I’m in Palm Beach, and I’m in a one-bedroom condominium 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 condominium,” McFadden added, “so people with money feel much better right now putting their money in real estate versus the stock market. Right now, it’s considered the safest place to park your money.”

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