Hampden Row condos already 50% sold in Bethesda

There's more evidence of a strengthening condo market in downtown Bethesda. Fifty percent of the units at Toll Brothers City Living's Hampden Row have already been sold, according to Hampden Row Sales Manager Jaclyn Smith. Those have been sold with only renderings and sales gallery mock-ups to go on, so essentially sight-unseen; the first model unit should open for tours in a couple of months.

Smith said sales traffic has surged since the building facade began to take on its final form in recent weeks. There has been an intentional effort to complete the section of the building closest to busy Arlington Road first. Next week, the capstone is scheduled to be installed along the building's roofline. Smith said the portion around the Arlington Road section should be complete by the end of the week, weather permitting.

Potential buyers stopping into the Hampden Row sales center at 4912 Hampden Lane have used words like "handsome" to describe the traditional design of the building's exterior, Smith said. Buyers have covered the demographic spectrum so far, she noted, ranging from young professionals who work on the Red Line, to empty nesters who plan to live out the rest of their lives in this building.

Many buyers in the immediate Bethesda area have not been familiar with Toll Brothers' City Living division. That's likely because City Living projects have up until now been concentrated in New York and New Jersey. Hampden Row is their first venture into our area, and will soon be followed by their second project, 8008 Wisconsin Avenue. While seemingly new, City Living actually has 36 multifamily buildings in its portfolio, including 110 Park Avenue and the 40-story 400 Park Avenue South in New York.

What may be spurring sales at Hampden Row?

The Toll Brothers brand reputation certainly helps in a crowded market like downtown Bethesda. In Fortune magazine's recent Survey of The World's Most Admired Companies, Toll Brothers ranked #6 worldwide across all industries in Quality of Products/Services Offered. That put them just below Apple, Walt Disney, Amazon, Alphabet, and Nordstrom, and ahead of Netflix and Facebook. Toll Brothers was named the #1 Home Builder Worldwide in that same survey.

Smith said the company's superior warranty and after-the-sale service is another strong selling point, with many customers choosing Toll Brothers again when purchasing future homes.

And then there is the apparent increase in demand for downtown condos, as evidenced by 400 people attending the sales launch of Duball, LLC's Cheval Bethesda condo tower last week.

Delivery of Hampden Row is expected in January.