Wormley Condo Sells
11 08 2009Over the last few months, the Wormly Row condos in Georgetown have been the subject of much speculation and even a recent PriceChecker. Well apparently the development has managed to attract the attention of notable Washingtonian and hockey team owner Ted Leonsis. Ted and his wife have purchased unit number five for a nice $2.6 million according to property records.
This brings the number of sold units in the building according to the WBJ to the grand total of two. What do you think of the building?
The building is in a great location, but really who would pay that much other than someone to whom money is no object like a hockey team owner!
[...] Metrocurean points out that with Ted Leonsis buying into Wormley Row, he would be only doubling the number of condos bought to date. [...]
This is a high end neighborhood with high end prices demanding high end buyers. But in this economy, these buyers are seeking high end discounts like everyone else so wormley should think about slashing prices. Rich people want deals to probably that’s how they got rich. Great building but the foolishly blind buyers are far and few these days. If I had 2 million to spare in this economy I wouldn’t spend on this.
It’s pretty hard to imagine Leonsis himself being willing to live there.
He probably bought it for one of his kids.
[...] discussed here before, the Wormley School became “Wormley Row” an extremely overpriced and undersold condo development that remains half built. Not exactly a grand testament to the successful [...]