Work on the Dupont Renaisance was completed last year. The building in DC has 16 condos. As seen in the photo bellow, there are at least 8 lockboxes along the fence at 1704 T St. NW in Dupont Circle, plus one rental unit. Half of the building still is on the market.
Unit 103, for instance has been on the market for more than 100 days and the price has dropped from $450K to $430K. A year ago everyone would have been saying: "I should, I could have, but I missed out." Now you get a fourth or fifth bite out of the apple.
On a percentage basis, this has to be the greatest illustration of the housing bubble in DC.
Thanks to the reader for this tip.
March 29, 2006
Posted by dcbubble.blogspot at 9:04 AM