The Lauren Residences Bethesda Update

Friends, as you know we have reported previously on the new high end, downtown Bethesda condo project The Lauren Residences.

By way of an update on the market for these condos, I did want to share this interesting comment from Grant Montgomery  (an analyst for the respected Delta Associates research firm in NOVA):

“What we’re seeing is a regionwide uptick in luxury units due to the real lack of development during the worst part of the recession,” says Grant Montgomery, who analyzes the region’s apartment market as a senior vice president for Delta Associates, a market research firm based in Alexandria, Va. “As the market has started to improve, we’ve seen a backlog of demand in the region, including in Bethesda, and we’ve seen developers start to fill that demand.”

This is a fair point. Additionally, the international demand for high end real estate projects in the Washington Metro area seems to be influencing the decisions of developers. I will say that in my day to day work I am seeing an uptick in individuals from overseas asking for information on the top US real estate markets (of which our own is at or near the summit).

Anyhow, more info on The Lauren Residences to follow. As ever, feel free to give me a call at (240)486-3921 or drop an email to rajlaw@yahoo.com if you want to chat about The Lauren (or any other real estate matter). Cheers!

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