There've been a number of articles about the sale I mentioned in my last post. The property was sold to this fellow for $7.295MM. With a living area of 4415 sq ft [$1652/sq ft], the condo has 4 bedrooms, 5.5 bathrooms. The previous owner bought it for $4.5MM in December 2005. Whowuzat?
Car mogul Jamie Darvish bought a four-bedroom, six-bathroom penthouse apartment at the Ritz-Carlton in Georgetown for $4.5 million. The apartment listed for $6 million and has a master bedroom with a wall of windows overlooking the Potomac as well as a private terrace. Darvish, whose father, John Darvish, founded Darcars Automotive Group, is general manager of his family’s company.
It turns out a mere bazillionaire bought a unit in the same building for $4.6MM in March, too.
In terms of dollar volume, these two sales represent 13% of condo sales and 5.86% of all sales in March. Removing the gazillionaire and bazillionaire condos from the analysis, it turns out dollar volume for condos was up a slight 1.25% YoY and the average price for condos was up 14.2%.