DC | Maryland | Virginia Homes & Condos for Sale » Brook Rose

Navy Yard Condominiums on Capitol Hill

jessebkaye — Mon, 13 Apr 2009 11:21:17 +0000

Oddly, this past week I have had numerous requests from clients interested in finding a condominium near the Navy Yard on Capitol Hill. Here’s a list of some of my favorites…based on the developers vision, quality of workmanship, and value.

1- The Iridium Condominium byBrook Rose

2- The Axis Condominium by Macy Development

3-
The famed Brook Rose Development, owned and operated by – you guessed it – Brook Rose. The companies newest purchase/development is located at 2719 13th St NW in the heart of Columbia Heights and just around the corner from his most recent knock out at 1207 Girard St NW, a two unit building. My expectation is that 13th will have a similar floor plan to Girard with each bi-level unit having three bedrooms and two-and-a-half bathrooms with off street parking. Rose’s understanding of luxury and ability to produce nothing short of what we call a masterpiece should only be fulfilled again in 13th St. Girard, as far my research shows, sold for a premium at $765,000 and $710,000 per unit and I expect 13th to overshadow those prices by a mile.

1207 Girard Photos

Brook Rose Development Purchases in Columbia Heights – Again

jessebkaye — Sun, 15 Jun 2008 18:15:00 +0000

The famed Brook Rose Development, owned and operated by – you guessed it – Brook Rose. The companies newest purchase/development is located at 2719 13th St NW in the heart of Columbia Heights and just around the corner from his most recent knock out at 1207 Girard St NW, a two unit building. My expectation is that 13th will have a similar floor plan to Girard with each bi-level unit having three bedrooms and two-and-a-half bathrooms with off street parking. Rose’s understanding of luxury and ability to produce nothing short of what we call a masterpiece should only be fulfilled again in 13th St. Girard, as far my research shows, sold for a premium at $765,000 and $710,000 per unit and I expect 13th to overshadow those prices by a mile.

1207 Girard Photos

Condos Without Parking? How about the option to purchase?

jessebkaye — Sun, 15 Jul 2007 20:40:00 +0000

Correct me if I’m misconstruing my perception of the market (which has been rather accurate so far), but with real estate as prime as what is available here, in DC, how can one consider purchasing a condo without parking???? Obviously depending on the buyers needs one may not need parking but take a look around. Seriously! This city is only becoming more dense, real estate is only going up, both literally and figuratively, and parking is going to be a strong selling point within 3-5 years if it already hasn’t affected buyers.

According to my research, deeded parking can go for as high as $75,000 as I experienced with a buyer looking in the Beekman Place community off of 16th St. Talk about prime real estate. According to DC law a legally deedable parking spot must be 9ft x 18ft. At a total of 162 sq ft, thats nearly $463 /sq ft. Condos in the same community are currently selling for $528 /sqft. Could it be a good investment? You tell me! (On Adams Mill there is a 124 sq ft spot selling for $75,000….$605 /sqft. PPPHHHHHEEEEEEW, thats as much as a luxury condo by BrookRose Development!)

The slower market segments

jessebkaye — Sun, 24 Jun 2007 14:11:00 +0000

Is it just me or has the market for homes between 600k & 1.2 million slowed down significantly. I’ve been watching the market and monitoring my listings quite closely and it seems like the most affected segment of the market are the upper-middle class buyers.

For those homes under the 600k price, my impression of the typical consumer would either be a ‘DINK’ couple, that’s dual income no kids, or first time home-buyers purchasing their first home using one of the many programs offered to them by the city of DC. Being younger myself, I can only more easily relate with the first time home-buyers similar to that of my age.

Take my newest set of clients, I’ll call them A & G, they are in their later 20′s, one an aspiring and very successful Gelato manufacturer based out of Petworth (go figure) and his wife, A, an extremely outgoing and representatively successful liquor distribution representative who happens to have more clubs & bars buy her product because of her rather than for the product itself. I know, I’m one of them. So A & G wed about 4-6 months ago and it’s time for their first purchase. We’ve been out a few times and each time we go out I try to get a better visualization of their new home based on their feedback from their current homes. Well, it seems like everything is on track and they are finally ready for those last few homes on the market before making their final decision. So far their favorite unit is at the Barcelona on Chapin St NW. They love the urban-loft style of the building with the open space and feel. Given this has become a new generation of units, from the larger developers such as PN HOFFMAN projects (more on this in a later blog) to the smaller developers, like Brook Rose and one of his development in Columbia Heights at 1207 Girard (breathtaking!). A & G and I are going out this Thursday morning and I’m sure we’ll find something for them to settle into during their first few years as newly-weds.

Left: A photo of the interior of one of Brook Rose Developments kitchens.

Over $1.2 million: Can someone say disposable income?!?!

I haven’t even seen a quiver of market slowdown with this market. Properties are moving and I don’t doubt that this consumer base actually understands that its not timing the market, its time IN the market. Properties in this base have been moving at quite a steady pace. From the Kalorama homes (none of which are less than $1.5 million) to the exquisite homes in the Palisades, its as if those with higher disposable incomes know something the rest of the purchasing population doesn’t.

According to GCAAR, my local board of Realtors, there was a 66% increase in settlements for homes over $1.5 million this past month, and a 133% increase in new listings over $1.2 Million.