News

News

Nov
4
2014

Victoria Condominiums in DC’s 14th Street Corridor 70% Sold Out

For immediate release News media contact: Leslie Braunstein
(202) 656-0542
info@lhbcommunications.com

Victoria Condominiums in DC’s 14th Street Corridor 70% Sold Out

16 New Condominiums Offer Quiet Setting, Sweeping Views Near Meridian Hill Park

Washington, DC, November 4, 2014 – Only six condominiums remain available for sale at Victoria, the newly completed upscale residence located at 1443 Chapin Street NW. Urban Pace has sold ten of the 16 all newly constructed condominiums at Victoria, located just a half block from historic Meridian Hill Park and the vibrant 14th Street corridor. Victoria features elevator service, underground parking, outdoor spaces, and unsurpassed city views from its upper floors. The building’s luxury one- and two-bedroom condominium residences include four duplex penthouses with spectacular 18-foot windows and private outdoor terraces.

“Victoria condominiums have sold at prices ranging from $449,900 to $1,050,000- –an average of $725 per square foot, which is about $ 75 per square foot higher than we expected,” said Urban Pace President Lynn Hackney. “This is a reflection of the project’s quality construction, the highly desirable location, and its stunning design and interior finishes.”

Victoria offers residents a tranquil environment on a quiet side street just steps from beautiful Meridian Hill Park, while providing easy walking access to the restaurants, shops, nightlife, and Metro access of 14th and U Streets. Just a few blocks north is the newly expanded Giant and DC USA, anchored by Target, Bed Bath & Beyond, Staples, and Best Buy and a 2nd Metro station.

Each condominium home at Victoria has Nest “learning” programmable thermostats and smoke detectors, custom kitchens with 56-inch lighted wall cabinets, snow-white quartz countertops, GE Profile stainless steel appliances, under-cabinet lighting, full-size washer/dryers, three-quarter-inch maple hardwood flooring, glass subway bath tile, and custom LED lighting fixtures. Selected homes offer GE Monogram appliances including double wall ovens as well as pot fillers located at the cooking range.

For more information, visit
www.victoriacondosdc.com.

Drummond Principal Steve Schwat remarked: “Victoria is our latest experiment in a series of condominium projects we have brought to market and it’s the finest work we’ve produced to date. Victoria has everything – ultimate convenience in location, well thought-out design elements, and exciting interior details – all at a very reasonable price including low condominium fees. The secured underground garage is serviced by an elevator that takes owners directly to their homes. Autos, bicycles, and strollers can be stored conveniently and securely. The Individual homes’ floor-to-ceiling windows deliver awesome views of the city and carefully chosen amenities really do improve the living experience. The smoke detectors talk, the thermostats learn, there’s a place to plug in your IPhone, and there’s almost always a breeze because Victoria is at a higher elevation than most of the city.”

Victoria is the second condominium project on Chapin Street completed by Drummond Development, the for-sale division of Urban Investment Partners. Meridian Heights, completed in 2005 at 1421 Chapin Street, is among a number of condominium projects built or renovated by Drummond in the last few years, including The Archbold, Providence Square, Penn Circle, The Drummond, and WY18. Victoria’s remaining six condominiums have just been released and buyers can move in immediately after closing.

About Drummond Development: Founded in 2001, Drummond Development, is the for-sale subsidiary of The UIP Companies, Inc. UIP is a leading real estate investment, development, and property management firm based in Washington, DC. The firm invests opportunistically in a variety of asset classes, with a primary focus on multifamily and mixed-use properties in select neighborhoods. Since 2001, UIP’s principals have sponsored real estate investments throughout the DC metropolitan region with a total valuation of over $600 million. For more information about UIP, visit www.uipllc.com

About Urban Pace: Urban Pace, LLC is a privately owned company that provides marketing, sales, and advisory services to real estate developers specializing in condominium and mulitfamily developments. Founded in 2001 by Lynn Hackney, Urban Pace has worked on more than five million square feet of property and over 5,000 units. For more information, please visit www.urbanpace.com or call 202.296.1203. Follow Urban Pace on Facebook,
(www.facebook.com/urbanpace) and Twitter (https://twitter.com/urbanpace).