Friday, March 30, 2007

Condo Sales: The Fedora

According to DCLofts.com, the Fedora is:

...the renovation of the historic Pitts Hotel on Meridian Hill Park. There will be 103 units originally priced starting in the low $300's. Units range in size from approximately 705 square feet to 1,645 square feet. Floor plans range from one bedroom, one bedroom with den, two bedroom, and two bedroom with den configurations.

The building won an "Award of Merit" in the "New Condominium/Co-ops/Conversions 4-stories and below, $375,001-$450,000" category from the 2006 Monument Awards.

The Fedora 1451 Belmont St NW, Dc, 20009

Units sold through January 2007

Of the 103 units, 78 sold by the end of January 2007; according to the District's real property assessment database, 25 are either still for sale or haven't had their closings recorded yet. Including flips, the District recorded 82 sales transactions at the Fedora from June 2006 to January 2007.

Information on individual sales can be found at DCCondoPrices.com.

I was unable to find any units listed for sale on the MLS, although one unit ["NEVER OCCUPIED BY TENNANT {sic} OR OWNER"] is advertised for rent on craigslist, a 2/2 for $2500.

Units flipped through January 2007

Four units flipped in 2006, amazingly enough all in 4Q 2006:

Unit #424 had the lowest profit margin to the seller, only 6.2%. The others ranged from 20.2% - 34.1 % profit margins.

1 comment:

Anonymous said...

I'm looking at maybe buying a place in The Fedora now, (July, 2009). Any new updates?

Thanks so much for all the info. Its so helpful!!