The 157-unit Westbridge condominium apartment building at 2555 Pennsylvania Ave. NW has been sold out a year before it is scheduled to be completed. Construction on the high-rise has just started and the project has not been advertised.
Robert O. Carr, project manager and vice president of the Oliver T. Carr Co., the developer, said that contract reserverations in the amount of 5 percent of the selling prices of the apartments have been taken on all of the barely started apartment building in the downtown area called West End. It's on the eastern fringe of Georgetown and the western side of the city's major commercial district.
All of the sale reservations on the one- and two-bedroom apartments, which are priced from $68,000 to $190,000, were taken within a week, Carr added. He said about 350 interested buyers were notified that Shannon & Luchs was opening a sales office atop a construction barricade on the site of the new building and that floor plans were displayed.
Carr confirmed that prices of the units had been raised twice during the time reservations were taken. He said there is a list of persons wanting to be placed on the list if any of the reservations are cancelled.
One of the purchasers will be Oliver T. Carr Jr., head of the firm. He plans to live on the top floor of the building.
The public response, possibly unprecedented for such a large condominium project well in advance of occupancy, was attributed by Carr and on-site sales manager Paul Gaffney to a high interest among couples and single persons who want to live in city.
The site is regarded by many real estate professionals as prime. It was the home of Chestnut Farms dairy until 10 years ago. The Carr firm now is completing a 175,000-square-foot Westbridge office building at 2550 M St., an adjacent site.