RSS FeedTwo More Chinatown Buildings Up For Sale
It is no secret that Chinatown’s Chinese flavor is becoming more mainstream and commercial. Every month, distinctively Chinese establishments become Suntrust Banks and temporary headquarters for mayoral candidates. One week ago, we learned that China Doll was sold to a developer. The most reasonable explanation for this transformation is that the original Chinese owners are growing older and are cashing out of their now prime real estate for a nice retirement.
Due to Chinatown’s dwindling Chinese presence, Chinatown has even been referred to as “Chinablock” by satirists. Informally, “Chinablock” can be defined as H St between 5th and 7th streets. This is the exact location of the last Chinese New Year event and encases the friendship arch, the Chinese cultural center, and the majority of distinctively Chinese establishments.
Up for sale today are 507 H St NW (asking: $1,899,000) and 817 6th St NW (asking: $1,550,000). Unfortunately for the sellers, these asking prices seem a little high considering 507 H St appears to be in a state of disrepair and 817 is not likely to be in “move in” condition. Both buildings are on the historic register which would make renovations or any additions more complicated, time consuming, and expensive to complete.
Clock on the map image for a closer look at the locations of these buildings.
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New Condo Sales Numbers For DC
The June 2006 condo real estate sales report (PDF) is in for DC and the not so surprising trend continues. Prices are down, sales (contracts and settlements) are down and inventory is up as the real estate market works its way through this soft period. We wonder how the GP/PQ area is doing in relation to the rest of the city.
Restaurant Update…PS7 & Wine Bar
Cheryl writes in to tip us off that Pete Smith, of Vidalia fame, expects his 120-seat restaurant, PS7 (named after him and the street it’s on) to open before the summer is over. It’s at 900 7th Street, NW. Architect Griz Dwight and Interior Designer Keisha Banks of GrizForm Designs are becoming the household names of hot restaurant design in DC. Look for the Griz effect at Pete Smith’s PS7 and a yet-to-be-named winebar concept at 8th and G Streets NW. Cheryl gets our thanks for her insights.