Posted tagged ‘Real Estate’

New Commandment Baptist Church Changes Hands

June 10, 2013
The former New Commandment Baptist Church at 625 Park Road is currently on the market for $3,500,000.

The former New Commandment Baptist Church at 625 Park Road.

Thanks to a reader who alerted me, I can report that the former New Commandment Baptist Church at 625 Park Road sold in April for $2,100,000. I was failing to find the sales data because it was listed as a commercial property which is reported differently. I’ve started to check on the commercial classification since it shouldn’t be classed that way in an R-4 Zone.

The property was on the market for 190 days. It was originally listed for $3,500,000 on July 19, 2012. The price was reduced to $2,990,000 on October 1st and then again to $2,424,000 on October 8th before selling for $2,100,000.

I haven’t been successful in contacting the new owner yet so I don’t know what the future has in store for the property … but according to a building permit issued on May 20th, the new owner intends to demolish all non load bearing walls and interior of the existing church. The permit also shows that the intended new use of the building is also a church. Time will tell if that is accurate or not.

A Promising Sign for the 600 b/o Newton Place, NW

April 24, 2013
619 Newton Pl, NW.

619 Newton Pl, NW.

Here’s a promising sign for the 600 block of Newton Place, NW. The vacant property at 619 Newton has been completely fenced in. Those familiar with the property will know that the property generally has a lot of loitering associated with it. It’s also been a property that MPD has known to be a problem in the past.

The property last sold on October 5, 2012, for $225,000. I’m not entirely sure it’s habitable based on the amount of repair it needs to the rear section of the structure. In checking DCRA building permit applications I wasn’t able to find anything recent for this property. I’m hopeful that the fencing will lead to more than merely securing the property — but even that is a step in the right direction.

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In 1922, the Sale of the 3650 Block of Georgia Avenue was Big News

April 11, 2013
(From the Washington Post, July 30, 1922)

(From the Washington Post, July 30, 1922)

Here’s a nice tidbit I stumbled upon recently while searching for something else … a real estate news article concerning the sale of the entire commercial block on the east side of Georgia Avenue between Quebec Place and Rock Creek Church Road. According to the article, the sale of this block, a mere two years after it was built, to a Connecticut-based investor was evidence that outlying business property was attracting more and more attention. The property sold for $150,000.

News of the sale was certainly greeted with optimism. The article  goes on to say … “No property in outlying business sections has come to the front more rapidly than on Georgia Avenue. Many extensive improvements are being planned for this locality which promise to make it in the near future as important a business center as Fourteenth street and Park Road.”

According to the Bureau or Labor Statistics Inflation Calculator, the 1922 price would be comparable to $2,072,910.71 today. Below is the strip of property today.

3650 block of Georgia Avenue today.

3650 block of Georgia Avenue today.

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More Georgia Avenue Properties Changing Hands

March 11, 2013

It was brought to my attention over the weekend that the building located at 3212-3216 Georgia Avenue was place on the market and sold so quickly that few were even  aware that it was for sale. In digging deeper, I confirmed that the properties sold recently for $1.1 million, reportedly to Zuckerman partners. What this means is still too early to tell. But, I have noticed that commercial real estate in Park View is very hot right now and in great demand.

3212-3216 Georgia Avenue, just north of Petworth Liquors, recently changed owners.

3212-3216 Georgia Avenue, just north of Petworth Liquors, recently changed owners.

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Development Buzz About 608-610 Newton Place, NW

February 6, 2013
610 Newton Place

610 Newton Place

Yesterday provided some welcome news regarding the development of 608-610 Newton Place, NW. Located on one of our community’s blocks in most need of improvement, I was excited to see the parcels sell in November 2012 for $1,425,000. That event, more than anything, told me that it would be among the sites where Park View would see development in 2013.

As I indicated, I finally learned some rudimentary details yesterday. Ironically, while I was on the phone with the new owner, Washington Business Journal’s Michael Neibauer tweeted the following: “Looks like New Commandment Baptist [sic] will redevelop 608-610 Newton Place NW (Park View) into 4-story, 12-unit apartment house. No IZ required.” (Note: New Commandment no longer owns this property even though they are still listed as owner in the DC Tax database).

Based on my phone conversation, plans for the property are still being finalized, but the new owner does want to make a presentation at a future ANC 1A meeting when the project is further along. They intend to have a project that is completely by-right and will not be seeking any zoning variances. They also intend to keep the façades of the buildings.

More interesting to me, however, is that we had a long conversation about conditions on the 600 block of Newton Place, including how bleak it is. This led to the discussion of landscaping and including trees to help green up Newton Place, which, the owner was enthusiastic about.

Below is a map of the area with the property in question outlined. Bringing this property back into productive use will be a tremendous boon for this block of Newton Place.

608-610 Newton Place site map
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Real Estate in Park View Continues to be Strong

January 28, 2013
824 Otis Place, NW, currently on the market for $749,900

824 Otis Place, NW, currently on the market for $749,900

I’m still a bit amazed that home sales in Park View have broken the $700,000 barrier. When 719 Princeton Place, NW, sold for $710,000 in November 2012, I thought it was a fluke. Then 624 Princeton Place, NW, came on the market at the beginning of this year for $749,900 and had a pending contract after a mere 8 days (actual sale price still unknown). Yesterday, I learned about yet one more property joining these ranks — 824 Otis Place.

824 Otis, NW,  has been placed on the market for $749,900. According to the listing it has 5 bedrooms and 4.5 baths. As with the other two properties listed in this range, it is a single family home located within a quarter-mile of the Georgia Ave.-Petworth Metro station. Interestingly, though, this trend seems to predominantly be south of the Metro station rather than equally distributed. I guess what is driving up these prices is the low availability of good housing on the real estate market, coupled with a Metro station nearby and the short distance to Columbia Heights.

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622 Rock Creek Church Road Finally on the Market

December 20, 2012
622 Rock Creek Church Rd.

622 Rock Creek Church Rd.

622 Rock Creek Church Road has had a real estate sign out front with a “Coming Soon” announcement since September 2012. Last weekend, after long wait, the building had its first open house. I posted earlier about some of its listed features, and you can see the online listing with additional interior photos here.

The house was originally built in 1911 as a three-story five bedroom, three bath house with 2,034 sq. ft. of living space and an unfinished basement. The property has since been renovated into two 2-bedroom, 2 1/2-bathroom condos. The listing has the lower unit priced at $619,900 and the upper unit priced at $649,900.

Overall, they property showed well and its proximity to the Georgia Ave.-Petworth Metro is a plus. It will definitely be interesting to watch this property and see what the two units ultimately sell for.

Kitchen area from the lower unit of 622 Rock Creek Church Rd., NW.

Kitchen area from the lower unit of 622 Rock Creek Church Rd., NW.

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Update on New Commandment Baptist Church Properties

November 12, 2012

610 Newton Place

Readers may recall that in August the New Commandment Baptist Church, located at 625 Park Road, put both their church property and the vacant buildings it owned on Newton Place on the real estate market. The property on Park Road — containing the church, the parking lot, and rowhouse to the west of the parking lot was listed at $3.5 Million. The property at 608-610 Newton Place that included the vacant lot behind it was listed at $1.5 Million.

Well, as a reader recently pointed out to me, the Newton Place properties sold on November 2nd for $1,425,000. I can only presume that this will be good news for Newton Place, which is one of the streets in the neighborhood that needs the most improvement.

Also of interest, the property on Park Road no longer appears to be on the market and it doesn’t look like it sold. The properties were originally listed because the church decided to find another location for their congregation. Perhaps, with the recent sale of the Newton Place property, the church has reconsidered. I’ll see if I can find out. The New Commandment Baptist Church has been a good neighbor and positive influence in the community and I’d certainly be happy to hear that they’ve decided to remain on Park Road.

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Preview of Renovations at 622 Rock Creek Church Road

September 26, 2012

Back in July I included 622 Rock Creek Church Road in a post on the many houses in the neighborhood that were in the process of being gutted and rehabbed. Readers may recall that it was built in 1911 as a three-story five bedroom, three bath house. It had a total of 2,034 sq. ft. of living space and an unfinished basement. It sold on April 20, 2012, for $460,000.

While I personally think the smarter way to go would have been to renovate the structure as a three story single family home with a rentable basement, the developer chose to chop the house into two, 2-level condos. According to the pre-listing, “each unit is 2-Levels and approximately 1,500 square feet each and feature an expansive 2BR.2.5BA open floor plan.” Below are the listed features.

- Oak Hardwood Floors Throughout
- Recessed Lighting
- High Ceilings
- Gourmet Kitchens Stainless Steel Appl, Granite Counters & Gas Cooking
- iPod/iPhone Speaker Integration and Sound System
- Video Intercom
- Bedrooms on Separate Level – Both Master Bedrooms w/En Suite Baths
- Baths w/Contemporary Tile & Glass Showers
- Washer/Dryer
- Outdoor Space
- Secure Garage Parking

So, what do you think?  Below is a video going through the upper level space.

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From Blighted to Community Asset, 732 Lamont Welcome Addition to the Neighborhood

September 20, 2012

It was only a year ago that 732 Lamont was on the DCRA blighted property list. Now, a full year later, the building has finished renovations — beautifully — and its units are officially on the market. The video below gives an idea of the fit and finish new residents can expect. Details, prices, and amenities are found here.

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