...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.
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.