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Feb. 10, 2014

Resmark to Bring Luxury Condos to Washington Area

By Adrian Maties, Associate Editor

The Resmark Cos. is working hard to bring luxury condos to the Washington, D.C., area. The Los Angeles-based full-service real estate investment advisor has partnered with two local developers to develop two different projects in downtown Bethesda and the desirable Dupont Circle neighborhood of the nation’s capital.

In Dupont Circle, Resmark is working with Madison Homes to develop 69 luxury condominium units at 1745 and 1755 N St., N.W. The plans for the project were recently approved by the District of Columbia Historic Preservation Review Board. They call for the conversion of the vacant four- and five-story historic row homes into 31 condominium units, as well as the construction of a new seven-story building at 1755 N St.

The historic row homes were built at the turn of the 19th century. They will house new condo units with high ceilings, fireplaces, exposed brick walls and other unique original architectural elements, and range from 650-square-foot, one-bedroom, one-bath homes to 1,720-square-foot residences with two bedrooms, a den and 2.5 baths.

The new seven-story building will feature 38 units with contemporary designs and top-of-the-line finishes, ranging from 475-square-foot one-bedroom, one-bath homes to 940-square-foot two-bedroom, 2.5-bath homes. Twenty-nine parking spaces will also be constructed, as well as a large, private courtyard.

Resmark and Madison Homes have hired a local firm, PGN Architects, as design architect. The two companies hope to start work on the N Street Condominiums project this summer. It is scheduled for completion in late 2015.

“This is a coveted location, where residents will enjoy walking distance to premier shops, great restaurants and entertainment, have easy access to public transportation and are near major employers in the District, Virginia and Maryland,” said R. Kent Grahl, president of Resmark Land and Housing, a division of The Resmark Cos., in a statement for the press.

“From our years working in the D.C. area, we know how rare it is to find an opportunity in a location as coveted as N Street,” Russ Rosenberger, president of Madison Homes, added. “This is a real honor for us, and we feel a great sense of responsibility for being entrusted with this historic and architecturally significant property, and look forward to preserving the character of N Street while injecting new life and excitement into the neighborhood.”

Resmark has also partnered with Duball LLC to develop the Woodmont View in downtown Bethesda. The two companies plan to construct a nine-story building with 46 two-bedroom condominiums, nine of which will be moderately priced. The units will average about 1,600 square feet and will feature private balconies, expansive windows, topflight appliances and premium interior finishes.

Woodmont View will be located on the northwest corner of the intersection of Battery Lane and Woodmont Avenue, within walking distance of two Metro stops and major employment centers such as the National Institutes of Health and the Walter Reed National Military Medical Center. Amenities include concierge service, a community room with a large rooftop terrace overlooking the city, a state-of-the-art fitness facility and a partial green roof. The project also calls for the construction of 2,800 square feet of street-level retail space.

Resmark and Duball expect to start construction in late 2014. The Woodmont View project is scheduled for completion in 2016.

Photos courtesy of Casey & Sayre.

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