Real Estate Archives - Page 13 of 14

Gaithersburg Apartment Complex Sells for $28 Million

Published February 14, 2023 at 8:50PM

Boston-based WinnCompanies has acquired the Villages of Gaithersburg apartment complex, located on School Drive next to the Shady Grove Village development for $28 million. The 9.5 acre property also features a pool, playground, and picnic area. The property was built in 1974 and has four stories with 168 total units. The property previously purchased by the Read Property Group in 2015 for $20.1 million.

WinnCompanies owns one other property in Gaithersburg and two additional properties in Montgomery County. Oaks at Olde Towne in Gaithersburg (Chestnut St.), Fireside Apartments in Rockville (Monroe Street), and The Residences at Thayer Ave in Silver Spring (Thayer Ave). WinnCompanies is currently hiring for various jobs at the Villages of Gaithersburg complex.

Dan Snyder’s MoCo Home Listing Now Available to Browse ($49 Million)

By MCS Staff

Published February 13, 2023 at 8:41AM | Updated February 13, 2023 at 9:34AM

Last week we let you know that Dan Snyder was putting his Montgomery County home up for sale, for what would be a DMV record breaking $49 million if it sold for the asking price. Now, the home listing is available to browse on any real estate website. It is being listed by listed by Heather Corey and Michael Rankin of TTR Sotheby’s International Realty.

The home, located at 11900 River Rd., has five bedrooms and eight bathrooms spread across 30,000 SF. The French-style single family home sits on a lot size of just over 9.6 acres and is located in Potomac. It comes at a price of $1,633 per square foot, with an annual tax $192,631 (over $75k more than the $117,345 median household income in Montgomery County).

Dan Snyder Puts Potomac Home on the Market; Asking Price Would Be Most Expensive Home Sale in DMV History

By MCS Staff

Published February 6, 2023 at 10:52AM

Back in November 2021, we reported that the $48 million sale of River View (7979 E. Boulevard Drive in Alexandria, VA)– a 16,000 square foot home with an additional carriage home had set a new record for the most expensive home sale in DMV (DC, Maryland, Virginia) history. The home was bought buy Montgomery County native and owner of the Washington Commanders, Dan Snyder. Now, with the sale of the Commanders looming, Snyder is selling his Potomac, MD home (named River House) for $49 million, according to a Biz Journals report. This is one million more than he purchased River View for in 2021, and would be the most expensive home sale in DMV history if it sells for asking price or more.

Per the report, River House on River Rd. in Potomac, “spans just over 15 acres and features a 30,000-square-foot French château-inspired home completed in 2004. Snyder bought the majority of the Potomac River-fronting lot, at 11900 River Road, in July 2000 for $8.64 million from the estate of Jordan’s King Hussein and Queen Noor, then expanded with the acquisition of six adjoining parcels.” It is being listed by listed by Heather Corey and Michael Rankin of TTR Sotheby’s International Realty. Photos of the home below, by Sean Shanahan.

2022’s Top Stories: Olney’s Highest Priced Residential Listing Has Sold; Breaking the Previous Record Set in 2019

By MCS Staff

Published December 31, 2022 at 11:46AM

As 2022 ends, we’re sharing a few of our most-read stories of the year, from June: The housing market exploded last year and the trend has continued halfway through 2022. 18632 Woodgate Place, a 7 bedroom, 8 bathroom, 5,915 SF home in Olney, was listed at $2,499,000– and it ended up selling for $2,175,000, making it the highest priced residential listing in Olney history (photos below). The home beat the previous Olney record of $2,066,986 for 16672 Bridle Ridge Lane, which sold in 2019. The Bridle Ridge house is a Toll Brothers home with 11,182 SF living space with 5 car garage on just over half an acre (0.55 acre), according to our real estate expert Nurit Coombe.

The home on Woodgate Place, which was listed by Jamie Coley and Leigh Reed of Long & Foster, is described as a “one-of-a-kind resort home with multiple additions and upgrades nestled on a cul de sac backing to acres of wooded Rock Creek parkland.” In addition to the 7 bedrooms and 8 bathrooms, the home has a 6-car garage, two outdoor kitchens & outdoor bar, fire pit, sport court and horseshoes pit with lights, propane fire pit, hot tub, and heated pool with custom slide., and a pool house with lockers, two showers, two baths, sinks, and pool toy storage area. A home just outside of Olney, at 17734 Norwood Rd in Sandy Spring, is currently under contract after being listed at $2,580,000. That home has 16 bedrooms, 13 bathrooms, and 13,227 SF.

The Tallest Tower in Silver Spring, Solaire 8200 Dixon, Now Open for First Occupancy

By MCS Staff

Published November 10, 2022 at 8:44PM

Washington Property Company (WPC) has delivered its latest luxury apartment community, Solaire 8200 Dixon, a 403-unit, 27-story tower in the heart of the Ripley District in downtown Silver Spring, MD. WPC Residential has leased about 30% of the building and residents began moving in last month. They are currently accepting applications for the remaining studio, one-bedroom, and two-bedroom apartments. Information can be found at www.solaire8200.com

Per the press release: The building will also be home to Solaire Social, a food and beverage cooperative featuring nine local eateries and bars, opening to the public in the spring of 2023. Additional amenities include a high-end fitness center and yoga studio, an onsite pet spa, a rooftop pool deck and sky lounge, a club room with catering kitchen, guest suites, flexible working spaces, electric vehicle charging stations, indoor bike storage, and 24-hour concierge, dry cleaning, and package service. Apartments are pet friendly and offer private balconies, quartz countertops, floor-to-ceiling windows, and a full suite of energy-efficient, stainless-steel appliances. The building is designed to achieve LEED Gold certification.

New Most Expensive Home For Sale in Montgomery County

By MCS Staff

Published October 10, 2022 at 2:50PM

Last week a new listing took the place of “most expensive home for sale in Montgomery County” when 8801 Fernwood Rd in Bethesda was listed for $12.5 million. The 15,000 SF home (photos below) is listed by Daniel Heider of TTR Sotheby’s International Realty and has 6 bedrooms to go along with 10 bathrooms (8 full, 2 half).

The home, which was built in 1972, is part of the Bradley Hills Grove subdivision and sits on a lot size of 2.773 acres. Per the property description:

New UMD Basketball Coach Kevin Willard Buys Home in Potomac

By MCS Staff

Published August 5, 2022 at 9:38AM

New Maryland Men’s Basketball head coach Kevin Willard, and his wife Julie, have purchased a home in Montgomery County. The custom home constructed and designed by PKK Builders and GTM Architects is in Potomac and sold for $4.9 million in July, according to public record (photo below). Kevin Willard was named the new head coach of the Maryland Men’s Basketball program in March. Willard recently coached Seton Hall to its fifth NCAA Tournament appearance in the last six years the tournament was held, having won a regular-season conference championship, conference tournament championship and earning conference coach of the year, Willard is one of 10 active head coaches in the Power 6 conferences to achieve each of the accomplishments in the last six seasons.

The home is described as a “six-bedroom, seven-and-a-half bathroom stunner features over 11,000 square feet of thoughtful design and resort-styled landscaping with manicured backyard.” It was built in 2014 and boasts palatial front doors, wide plank oak hardwoods, a gourmet kitchen, stone patio with a complete and covered outdoor kitchen, waterfall, three-level elevator, his and her offices, heated master bathroom floors, and a lot more, according to the listing by Washington Fine Properties.

Rock Creek Property Group Acquires 51,000 SF Property in Rockville For $8.9 Million

By MCS Staff

Published July 27, 2022 at 12:31PM

Rock Creek Property Group, LLC (“Rock Creek”) has announced it has acquired 51,000 square feet and two floors at 9707 Key West Avenue in Rockville, MD. The property is strategically located in the epicenter of Montgomery County’s life science cluster. This is the second acquisition by Rock Creek’s Fund III and the purchase price was $8.925 million. The three-story office building is divided into two condominium units owned by separate entities. The unit acquired by Rock Creek, comprises the entire second and third floors each measuring approximately 25,500 square feet. Rock Creek plans to rebrand the space as Precision Labs™ | Shady Grove, adding to its burgeoning first class life science portfolio.

Per the press release: As Rock Creek’s second Precision Labs™ location, the space will offer maximum flexibility for both large and small life science users. The space can be configured either as a rare 51,000-square-foot contiguous block, two-floor combination of lab, R&D and supporting office space, or as one to two floors of spec suites able to accommodate smaller tenants with more immediate needs. The space has:

Grosvenor Tower in North Bethesda Sold for Just Over $95 Million

By MCS Staff

Published July 21, 2022 at 2:28PM

Grosvenor, a privately owned international real estate company, has acquired its latest multifamily value-add property – Grosvenor Tower, a 237-unit apartment building located at 10301 Grosvenor Place in North Bethesda. According to a BizJournals report, the building has sold for approximately $95.3 million and Grosvenor plans to invest as much as $10 million in improvements.

Per Grosvenor: The 21-story building, which coincidentally shares the Grosvenor name, fits Grosvenor’s investment strategy of acquiring and improving existing high-quality multifamily properties in its coastal gateway markets. Known for its commitment to long-term sustainability, Grosvenor plans to significantly lower the carbon profile of the property while investing in upgrades to modernize common areas and improve apartment interiors. Grosvenor completed the acquisition with a long-term partner.

Olney’s Highest Priced Residential Listing Has Sold; Breaking the Previous Record Set in 2019

By MCS Staff

Published June 26, 2022 at 3:32PM

The housing market exploded last year and the trend has continued halfway through 2022. 18632 Woodgate Place, a 7 bedroom, 8 bathroom, 5,915 SF home in Olney, was listed at $2,499,000– and it ended up selling for $2,175,000, making it the highest priced residential listing in Olney history (photos below).

The home beat the previous Olney record of $2,066,986 for 16672 Bridle Ridge Lane, which sold in 2019. The Bridle Ridge house is a Toll Brothers home with 11,182 SF living space with 5 car garage on just over half an acre (0.55 acre), according to our real estate expert Nurit Coombe.

Olney’s Highest Priced Residential Listing Of All-Time is Currently For Sale

By MCS Staff

Published June 6, 2022 at 7:42AM | Updated June 6, 2022 at 10:07PM

The housing market exploded last year and the trend has continued halfway through 2022. 18632 Woodgate Place, a 7 bedroom, 8 bathroom, 5,915 SF home in Olney, has been listed at $2,499,000– making it the highest priced residential listing in Olney history (photos below).

Based on the current market, the home is expected to beat the $2,066,986 sale price of 16672 Bridle Ridge Lane in Olney, which sold in 2019. The Bridle Ridge house is a Toll Brothers home with 11,182 SF living space with 5 car garage on just over half an acre (0.55 acre), according to our real estate expert Nurit Coombe.