Category Archives: Real Estate

How Will 7770 Announcement Impact other Bethesda Condo Projects?

After 7770 Norfolk announced it was going to revert to apartments, one question has been bugging me – what impact will that announcement make to other Bethesda condo projects. I am making some calls and trying to see if thinking has shifted on other projects and will keep you posted.

Of course, one benefit could be to the Bethesda resale condo market – particularly, one would imagine, to nicer units and upscale buildings. We will monitor that trend here at Bethesda Actually in the months ahead.

7770 Norfolk Switching to Rentals

Really big news to start 2016…and not good news from a Bethesda condo market perspective. It seems that 7770 Norfolk will not be delivering as a condo building but will be reverting to a rental building. The pace of sales is apparently to blame according to these comments from JBG’s Matt Blocher:

“The property was well received by the public and achieved the desired sales pricing, but unfortunately, we learned that our condominium sales pace was lower than what is required to sell 200 units in a timely manner…”

I will post some more detailed thoughts later but wanted to make the following points:

1. If the desired pricing was being reached but the pace was off, it suggests that a different mix of price points for the units was possibly required…this also suggests a different mix of unit sizes may have been useful.

2. On a related point – condo developers should consider true three bedroom (non pent house) units for future projects as that provides a genuine alternative for area buyers looking to downsize from large single family homes who need multiple rooms for guests. This could positively impact demand.

3. The quality of these units was very high – the units were built to condo specs…would it have been possible to allow investors in earlier and in greater number to increase sales? Perhaps with a preferred financing partner?

More to follow with thoughts on what this indicates for the broader Bethesda condo market.

As ever, if you have any real estate needs feel free to connect with me at raj@rajabout.com or 240 486 3921

Work Continues at Stone Hall Bethesda

Just a brief update on Stone Hall Bethesda – the developers have taken down the office building on the site and are preparing the ground for the foundation process:

stone hall bethesda 2

 

As we noted in this earlier post – the project is across the street from the high end apt building and Harris Teeter currently being built.

There is lots more to say about this project but for now I wanted to point out that if you are interested in looking/ possibly buying a condo in the Bethesda area (including new projects like Stone hall Bethesda) feel free to drop me an email at raj@rajabout.com or give me a call at (240)486-3921.

Art in Bethesda: Where is this piece?

art outside gallery bethesda

Live 7770 Norfolk Condo (Update)

Hi friends – just an updated pic on the work taking place at 7770 Norfolk. As we noted a couple of weeks ago (see post) there are a number of very positive dimensions to this project including the location and price point. It has been terrific to see the steady progress being made by the developers – see below:

latest pic 7770 norfolk

 

There is lots more to say about this project but for now I wanted to point out that if you are interested in looking/ possibly buying a condo in the Bethesda area (including new projects like 7770 Norfolk) feel free to drop me an email at raj@rajabout.com or give me a call at (240)48-3921.

I’d be happy to assist you with all your real estate needs (for all my contact info you can also look to the right of the blog).

Stone Hall Bethesda

Just wanted to share news that the developers have broken ground on the new high end condo project on the corner of Battery Lane and Woodmont Ave in Bethesda. Stone Hall Bethesda promises 46 luxury high end residences starting in the $800K range and going up to approx $2 million. The plan is to have delivery by 2016.

The project is across the street from the high end apt building and Harris Teeter currently being built.

There is lots more to say about this project but for now I wanted to point out that if you are interested in looking/ possibly buying a condo in the Bethesda area (including new projects like Stone hall Bethesda) feel free to drop me an email at raj@rajabout.com or give me a call at (240)486-3921.

I’d be happy to assist you with all your real estate needs (for all my contact info you can also look to the right of the blog).

stone hall bethesda 1

Hampden Row Serious Option for High Net Worth Investors

 

 

 

The Hampden Row condominium project is gearing up to be a fantastic addition to the Washington Metro areas luxury condo market and, it seems, a very serious option for High Net Worth Investors from the U.S. and abroad. Yes, the features are spectacular – from rooftop terraces, fitness centers and top of the line finishes, but it is the combination of space, luxury and location that make this project desirable to the HNWI class.

Bethesda has been, and one assumes, will continue to be, a highly desirable neighborhood in the Washington Metro market due to its livability, government services and, crucially, proximity to downtown DC. With all of the development taking place in Bethesda it is interesting that the Lauren and Hampden Row are the only two new projects to offer the large space and amenities that are desired by investors looking to buy/ use as a second home/ rent and hold for the long run.

Yes the prices are high but for the right buyer Hampden Row does make sense.

If you would like more detailed info on Hampden Row feel free to give me a call at (240)486-3921 or drop an email to raj@rajabout.com

PS And remember Hampden Row will be across the road from:

view from hampden rownew tako grill across from hampden row

Live Norfolk Condominiums

I recently popped by the site of the new Norfolk Condominium project (7770 Norfolk) and was pleased to see that they are making really good progress. The building infrastructure seems to be quite far along and the site itself was humming with activity. It is a bit early to discuss the details of the project but I did want to make a few basic points.

First, the location of this condo project is fantastic – nestled in fast developing “old” Bethesda, the Norfolk condos are across the street from the fountain at Veterans triangle ensuring that the residents are a stone throwing distance from:
Bold Bite, BGR, Jetties, Tastee Diner, Woodmont Grill, Black’s Kitchen and a whole lot more! They will be able to enjoy the summer music of Veteran’s triangle, stroll down Norfolk to other restaurants and the summer outdoor film series AND will be on the Bethesda Circulator route.

Second, prices for the units are geared towards a larger swath of the population than some other recent projects. With units scheduled to start in the $400-$500K range there are going to be good opportunities for buyers.

Third, with the increase in rental prices in the surrounding area – buying may well be a better option for many looking to remain in Bethesda while living in a high end building.

There is lots more to say about this project but for now I wanted to point out that if you are interested in looking/ possibly buying a condo in the Bethesda area (including new projects like 7770 Norfolk) feel free to drop me an email at raj@rajabout.com or give me a call at (240)48-3921.

I’d be happy to assist you with all your real estate needs (for all my contact info you can also look to the right of the blog).

7770 norfolk next door to starbucks

 

Coffee and Real Estate Bethesda

We are seeing incredible changes in the real estate sector in Bethesda (and the broader area). New projects are seeing the development of high end apartment buildings, condominiums, town home and single family homes. Additionally, there are substantial changes in the commercial real estate area and these are impacting where people want to live and the space that they need.

As regular readers of this blog know, in my day job I am a real estate professional (associate broker/ realtor with Coldwell Banker RB Bethesda licensed in MD, DC and VA), so I am tracking these changes a lot more closely than your average resident. My take is that the new inventory coming onto the market, coupled with the rehab and tear down boom, is a real benefit to buyers BUT these buyers need to have a very clear sense of what their broad real estate/life goals are before they commit to a purchase.

I am going to be holding a few small coffee gatherings with people interested in buying or selling in Bethesda (and the broader Washington, DC metro market). We are going to chat about the market, the opportunities for investment and some of the big changes in the area that buyers and sellers need to know about.

If you are interested in joining one of these coffee sessions, drop me an email at raj@rajabout.com and put “RSVP coffee and real estate” in the subject line.

Cheers!

Bethesda Mews Update

Just a quick update on Bethesda Mews. I popped over to take a look at the latest tweaks and noted with real interest that they are building a rather delightful environmental feature towards the back of the project. In other good news there are 2-3 really nice homes getting close to delivery including my favorite plot in the entire project. If you have any interest in checking it out or just want more info give me a call at (240)486-3921 or drop an email raj@rajabout.com.

Cheers!

Mews 1 lr