RSS FeedValet Parking Blingo
It may not be something you think about until you pull up to the restaurant but when the sandwich board comes into view and you see two digits instead of one, you realize you’ll need to reach for a Jackson instead of a Hamilton. Valet parking is the topic and an informal survey yielded the following valet costs for a few restaurants in the area:
Zengo – $12
Oyamel – $11
Zaytinya – $11
Oya – $10
PS7 – $10
Chophouse – $10
Cafe Atlantico – $10
Caucus Room – $8
Rasika – $6
Acadiana – $6
Le Paradou – $5
Oyamel and Rasika are less than half a block apart and valet parking costs $5 more at one than the other. I can swallow the 10% tax on prepared foods but when parking starts costing more than an appetizer, this blogger’s visiting friends start getting bad tastes in their mouths.
F Street Retail Roundup
Here’s what could be opening on F Street according to the Washington Business Journal…
* Co Co (also called C3Fix) at 975 F Street – restaurant – letter of intent
* Zara – between 10th and 11th – clothing retailer with locations all over the world – lease signed
* Madame Tassauds – corner of 10th and F – wax museum with locations all over the world – construction starting soon
* Organic Butcher – between 9th and 10th – organic meats with store in McLean, VA – concept under evaluation
* Stitch – unknown – knitting store with locations in Georgetown and Capitol Hill – letter of intent
Kate Spade Economics
True spring weather is upon the Washington area and the cherry blossoms bring out tourists and locals alike in droves. Walking around the PQ this morning, I was struck by what I call the Kate Spade Economic Test. What is a good litmus test for foot traffic and economic activity? None other than street vendors. I happened on one who set up shop at the corner of 10th and F Street selling Kate Spade and Prada knockoff handbags. Does this portend more foot traffic to come? Unknown. But, what I do know is that the wrapping up of construction on the National Portrait Gallery and F Street between 9th and 10th seems to have opened up the streets and tourists and locals have bloomed, much like the cherry blossoms on the Mall.
Howto: Buying In The PQ
As prime real estate season gets into gear, we thought we’d bring you a few tips when it comes to looking for real estate for sale in the Penn Quarter (PQ). Like the label Georgetown, PQ now has some cachet (or brand equity as they say).
Tip 1: The PQ lies in two zip codes only: 20001 and 20004. Not 20005. Anyone claiming otherwise is trying to fool you. Some (not all) realtors like to stretch the truth by fabricating neighborhoods. Who ever heard of Logan East? It’s Shaw. The diamond formed by Mass Ave, New York Ave, Penn Ave, 3rd Street and 10th Street is the broadest definition of the Penn Quarter. Wikipedia stretches it out to 15th Street but we think that includes Downtown.
Tip 2: The market has come into a better balance between buyers and sellers; the sellers market heyday from 2003 to 2005 is in the rearview mirror. The 1990s brought DC a diverse and healthy economy so it will always have a lively real estate market. That said, you do have more time to look, choose and bargain.
Tip 3: Make sure you think about your surroundings and what they will be like during the day and the night when you pick and purchase. Like the sun? Then, face south and shoot for a high floor. Want a pool? Then, check if it is a lap pool or something larger. (Note: All the rooftop pools are approximately 4 feet deep. Don’t expect an Olympic training pool). Want low fees? Then, look for a building with lots of units and few amenities. Don’t want noise? Don’t buy a unit across the street from a dance club.
A number of realtors say they specialize in the Penn Quarter. As always, you can check our PQ building map as a starting point for looking in this fun, urban neighborhood.