If you build it, they will come.
The hip 14th Street in Northwest Washington has seen a lot of construction recently with up-and-coming restaurants and condos. But the Aston at 14th and R streets NW will be one of the first new condo buildings to be completed and already 29 of the 31 units have been sold. New residents will be moving in this month.
“We knew it would be a successful project due to location and timing,” said Jeremy Aldridge, sales director at D.C.-based UrbanPace, a sales and marketing firm for urban developers. “Our goal was to be sold out before completion.”
D.C.-based developers Sequar and Valor started construction on the Aston in the summer of 2011.
The seven-story Aston was built from the ground up, which Aldridge said is rare because it has been easier to obtain financing to refurbish an older building than for a whole new building.
The Aston has 16 underground parking spaces. But it lacks other amenities such as a gym and a concierge.
“We felt that 14th Street was your amenity,” Aldridge said. Cafe M Italian Bistro will operate on the ground floor of the Aston and BodySmith Training Gym is right next door. Plus, fewer amenities mean lower condo fees, which, depending on the unit in the Aston, range from $300 to $700.
The architect for the Aston, Bill Bontstra, also designed the Studio Theatre right up the block on 14th and P Streets. Matt Raymond, chairman of Advisory Neighborhood Commission 2F07 in Logan Circle, said that Bonstra was open to the neighbors’ concerns about the Aston’s design when talks began in 2010.
“There are some people that are taking a cautious attitude about [the Aston] but I think by and large the community is enthusiastic about its presence,” Raymond said.
The size of the units and prices vary widely. The biggest units, the two penthouses, measure 1,400 square feet each and feature two bedrooms, 2.5 baths and an additional private rooftop terrace. They each sold for a little more than $1 million.
On the other end of the spectrum, a 490-square-foot studio apartment in the building sold for $268,000.
The two condos left have two bedrooms, two bathrooms and are both just less than $600,000. Parking for these units is another $4,500.