RSS FeedCribs XXVII: It Looks Better The Second Time Around (@CityCenterDC)
Ed. Note (3/3): This comparison is meant for comparing CityCenter condos with condos where parking is not available for sale in the building being compared. A few Penn Quarter condos do not have parking spots available for sale and residents must rent their parking spots on a monthly basis in those buildings as there is no other choice.
We are now starting to see CityCenter condos come back onto the resale market after initial sales by the developer’s sales agent. One such unit caught our eye because it’s indicative of a nice, solid unit at The Residences at CityCenter and it’s an interesting condo fee comparison to other 2 bedroom units in the area.
Unit 904 at 925 H Street NW is a 2 bedroom, 2 1/2 bathroom unit at CityCenter facing south and including 2 parking spaces. The condo fee is $1,280 per month and the asking price is $1.215M, 5.9% above its initial sales price of $1.417M. That will cover most of a realtor’s traditional 6% commission for the sale although it will still leave the seller with a small loss at settlement due to the 1.45% transfer fee required by the city government (this also depends on other items negotiated as a part of a sale transaction).
How does this compare to other units? The condo fee seems high but if you factor in that each parking space rents for $250 per month (or more) in a few condo buildings around Penn Quarter, the netted out condo fee is actually $780 per month which compares favorably with many of the other 2 bedroom, 2 bathroom units of this size in the area. Sometimes it does look better the second time around.
925 H St NW – Unit 904 – MLS #DC8558851 [Redfin listing] [MRIS Virtual Tour]
U.S. Navy Memorial – Centennial Celebration Of The Navy Reserve
From the Penn Quarter Neighborhood Association, we learned about the Navy Memorial’s new centennial celebration of the Navy Reserve.
U.S. Navy Memorial – Exhibit Opening
Year of the Navy Reserve: A Centennial Celebration
Tuesday, March 3, 9:30 am
The public is invited to view this exhibit mounted in honor of the Navy Reserve’s 100th anniversary. Featuring ship models, rare historical artifacts, artwork, and recruiting posters, the exhibit will showcase the history of the Navy Reserves, its current mission, and its goals for the next century. Throughout the year, special presentations will highlight the range of roles reserve sailors have played throughout history.
On Exhibit through April 2016
U.S. Navy Memorial
701 Pennsylvania Avenue, NW
202.737.2300
www.navymemorial.orgMetro: Archives-Navy Mem’l-Penn Quarter
Want to Own the Next PQ Restaurant?
Like many foodies, the dream of owning our own restaurant, or at least dreaming up the idea of our perfect dining experience, is a frequent topic of conversation around the table. Now, you too can own a piece of Penn Quarter’s newest restaurant concept. While walking by the former Living Social space at 918 F St., NW, we noticed signs for Prequel.
What is Prequel? Well, it turns out it’s a unique opportunity for DC residents to crowd-source a restaurant incubator. Aspiring chefs and other providers (handpicked by EquityEats) will be given the chance to host pop-ups in the 918 F St. space and test their concepts. For 9 more days only, if you are a DC resident, you can make a small or large investment in Prequel. Check out their site for more details, but here’s a snapshot of what you could get as an investor: an array of perks (ranging from invites to exclusive events to discounts on your bill) and, potentially, a return or a profit on your investment.
Bravo, Prequel, for this creative combination of crowd-sourcing and pop-ups to get this foodie excited about playing a real part in the next best restaurant in our neighborhood!
Burlesque Club Royal Jelly Reveals Itself At Community Meeting (477 H St NW)
Ed Note (2/23): You can find the Dougalas Development webpage on the property here.
The mysterious agenda item on this month’s ANC meeting, 477 H St NW, bared all revealing that the proposed use is for a burlesque club named Royal Jelly from Los Angeles based operator Ivan Kane (see articles linked below). Others in the community call it a strip club.
We suppose the devil is in the details so we’re offering up the two stories that hit the media on the matter. If you live downtown/in Penn Quarter and want to have a say on the matter, you’ll want to contact the ANC and/or attend next month’s meeting on Monday, March 9.
Burlesque joint or strip club? Chinatown wonders about the latest [Washington Business Journal]
Don’t call it a strip club: Burlesque house may be headed to Chinatown [Washington Post]
Penn Quarter N’hood Assn. Breakfast On Wed, Feb 25 (Topic: Variable Parking Meter Pricing)
By e-mail we were notified of the next Penn Quarter Neighborhood Association breakfast meeting. An RSVP by noon Monday, February 23, is requested to attend the meeting. There is no cost to attend. Please indicate if you heard of this meeting from Penn Quarter Living:
Penn Quarter Neighborhood Association Breakfast Meeting
Wednesday, February 25, 8:30amLocation
Ruth’s Chris Steak House
724 9th Street, NW
Metro: Gallery Pl-Chinatown, exit 9th and G streetsAgenda
Continental Breakfast: 8:30 – 8:55am
Brief Announcements: 9:00am
Speaker: 9:15amSpeakers + Topic
Soumya Dey, DDOT Director of Research & Technology Transfer and Project Manager for Park DC: Penn Quarter/Chinatown Pilot Project
DDOT’s Penn Quarter/Chinatown Multi-modal Value Pricing Pilot Project (also known as Park DC: Penn Quarter/Chinatown Pilot Project) has received funding from the Federal government to use the study area – bounded by 11th, 3rd, H, and E streets – as a laboratory to test various technologies to better manage curbside parking and reduce congestion resulting from cars ‘circling the blocks’ looking for a parking space. To test options for achieving these goals in the pilot area DDOT will increase parking availability by adjusting the cost of the public parking spaces and will provide drivers with tools to find available parking spaces. The program is also expected to reduce congestion, increase safety, and encourage use of other transportation modes. DDOT wants to hear your comments on how metered parking in the study area impacts your business and quality of life as a resident before taking the next steps.
Please respond if you plan on attending this meeting as it will help our host prepare. RSVP via email to my new email address by noon Monday, February 23:
Jo-Ann[at]PennQuarter.org
Include the first and last names of all those attending and their affiliations.
Love Poems
Do you still have the warm fuzzies from Valentine’s Day or cuddling up by the fire because of the snow? Well, here’s one way to help spread the love and warm fuzzies even further: Higher Achievement’s Annual “Love Out Loud” event. Higher Achievement’s dedicated scholars (5th through 8th graders) and alumni from around the District will perform their original poetry on February 25 at The Lansburgh Theater (450 7th St., NW). Admission is free, but click here to RSVP. In honor of the 10th Anniversary of the event, donate $10 to support this amazing organization!
Tadich Grill Showing Up Soon (1001 Pennsylvania Ave NW)
The Tadich Grill, a San Francisco based restaurant, expects to open soon in Penn Quarter at the corner of 10th and Pennsylvania Ave NW (1001 Pennsylvania Ave NW). A regular Penn Quarter Living reader sent in a few photos of the signage displayed in the former Ten Penh restaurant location that we’re posting for our readers; an outdoor rendering can be found in the restaurant’s stub website and in this Washingtonian piece. Though it my have snowed last night, we’re imagining ourselves having cioppino and a glass of California chardonnay in the neighborhood in the next few months.
