The Q14 Residences, located at 1401 Q St NW, have the unique distinction of having perhaps the most expensive condo in the United States, if the District's data were to be trusted. As I mentioned in an earlier post, the District recorded unit #603 as having been purchased for slightly more than $88M. Talk about blowing the comps!
Update: the actual sale price for unit #603 per the District's Recorder of Deeds was $881,403.10.
As described by the building's designer, Bonstra | Haresign:
The Q14, a 28-unit luxury condominium building located at the northwest corner of 14th & Q Streets, is soon to be a landmark along the reemerging 14th Street corridor. The building, with 5 units per floor on 7 levels, is served by 2 high-speed elevators. Two levels of below grade parking accessed from the rear alley, contains up to 37 parking spaces. A terraced courtyard at the ground level will provide a visual respite from urban life, with unit balconies visually linked to this “urban oasis”. A rooftop terrace serves the recreational needs of the residents, providing dramatic views of the surrounding cityscape.
The Q14 Residences 1401 Q St NW, DC, 20009
Sales through January 2007
Twenty units' sales have been recorded to date. The District's real property assessment database shows that 8 units have either not sold or not had their sales recorded yet. Unit #605 just went under contract and, according to the Q14 web site, units #201, #203, and #505 are still available.
Information about individual sales can be found at DcCondoPrices.com.
No condos in the Q14 have been flipped to date, but that's not for want of trying. Two units are currently listed on MLS:
- #402, 2/2.5. MLS ID: DC6319308. List price: $749,000. Initial purchase price: $617,500 (recorded on 11/22/2006)
- #504, 1/2. MLS ID: DC6219991. List price: $788,000. Initial purchase price: $704,125 (recorded on 11/17/2006)
If successful, the speculators will generate a nice 21.3% and 11.9% return on their "investments", excluding time value of money, carrying and transaction costs, and other such trifles.