Here’s another successful DC new condo project with UrbanLand Company written all over it for this week’s Throwback Thursday and look back at highlights from our 15 year brokerage history! We’re turning the Way-Back machine all the way to 2007 to Parker Flats, a 92 unit gorgeous project redeveloped from the historic Gage School site in NW DC.
The project is located on 2nd Street, NW between U Street and V Street in Ledroit Park. The developers purchased the site from Howard University and transformed the 1904 school into a 4 story condo project that combine historical charm with modern updates. The project also included a strip of 2 level new townhome options.
“This is a time when the DC market was beginning its housing market crash. We pitched and pursued this listing for 12 months with the institutional lender in charge of the project,” said Gerard DiRuggiero, Principal Broker. “Once we took over, we were able to peg prices in a sweet spot while the market was failing and were able to generate substantial sales momentum. Our plan called for ‘saving the best units’ for last as a successful tactic to increase the return on investment in the project. All in all, Parker Flats is another one of several ‘tough projects’ we’re proud to put our name on during our career as new construction sales specialists.”
UrbanLand Company is celebrating our 15 year Anniversary as a DC brokerage! We’ve now sold over $496,000,000 in area volume coming from over 1,380 transactions. Just over 1,000 of our sales come from complicated new condo transactions on behalf of developers. Call/text us at 202.759.4114 or email Gerard DiRuggiero for help and advisory with your next project!
Are you a Realtor and want to learn how we help build agents’ businesses? Check out our ongoing video series on our Agent Leads Generation Program – our exclusive in-house leads have now produced over $41 million in closed agent sales. Call/text 202.759.4114 to find out how we can help you Build Your Business.