WASHINGTON, DC—The Montrose Residences, acondominium building in Georgetown, has sold outsix months after its three-year renovation delivered, UrbanPace, which has been tapped to market the units,reports.
Argos Development was the developer, rebuilding the former Henryand Anne Hurt Home for the Blind, located across the street fromthe Dumbarton Oaks mansion and gardens. Lynn Hackney, president ofUrban Pace, said some of the sales of the units achieved "thehighest price points in a new building in DC in many years," in aprepared statement.
As we have reported before, the condo pipeline in the DC marketis ramping up quickly, redistributing away some, but not much,energy away from DC's fascination with multifamily.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
