Saturday, October 08, 2016

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.

35 comments:

Anonymous said...

What's the opposite of moribund? Go Montgomery county!

Anonymous said...

NoVa just lost the Mars candy corporate HQ. It will be just a matter of time until all the rest are gone.

Anonymous said...

Antonyms: alive, animate, live, living, quick; being, breathing, existing, subsisting, surviving; booming, flourishing, prospering, roaring, thriving; animated, bouncing, energetic, frisky, jazzy, lively, peppy, perky, spirited, sprightful, sprightly, springy, vital, vivacious, zippy

Robert Dyer said...

8:02: No one has ever accused the residential real estate market in Montgomery County of being moribund. It's high-wage private sector job growth that has been stagnant here, as well as a loss of over 2000 retail jobs, since the year 2000. Residential stays hot because people live here, and commute to the booming job centers in Northern Virginia and D.C.

Robert Dyer said...

9:05: That's a merger and consolidation of two firms, not a corporation willfully choosing to relocate. Much like Marriott and Starwood.

Anonymous said...

Oh so that's good right? NoVa business is doing well and MoCo residential is doing well!

How is NoVa residential doing?

Robert Dyer said...

5:27: Not good if you're becoming the bedroom community for job centers elsewhere. Check the real estate section, and you'll find Northern Virginia real estate is doing very well. Check the high prices for distant homes in Loudoun and Stafford County, for example. Closer-in Virginia is even around MoCo prices for new construction at this point. So Virginia has both, and that what Montgomery County leaders need to emulate, once we term limit and replace the current councilmembers who have failed.

Anonymous said...

How is retail doing in Virginia? Have they gained retail jobs? If so, how many?

Anonymous said...

ELECT DYER! HE WILL TRANSFORM MoCo FROM A BEDROOM COMMUNITY TO A MOM'S BASEMENT COMMUNITY!!!

Anonymous said...

So nova residential and commercial is doing well. MoCo residential is doing well but not commercial?

Does that count as a failure?

Robert Dyer said...

9:10: Yes, doing half as well as Virginia counts as failure.

Anonymous said...

So what do you consider yourself? You and Riemer both ran for county council but he won. I really want to try to understand your logic and some consistency behind it.

Robert Dyer said...

6:09: Riemer had over $100,000 from Wall Street crooks, K Street lobbyists and pioneers in outsourcing American jobs to China like Bain Capital and Danaher Corporation. Voter turnout was 14%, lowest in the state. No media coverage of me beyond a paragraph in a Post roundup of all at-large candidates.

Not a fair election by any measure.

Anonymous said...

Now Dyer has banned comments on articles about Monkey Mall? LOL

Anonymous said...

7:18AM is distressed he can't post sick comments on an article about a children's play center.

Anonymous said...

Oh ok so fairness counts towards success or failure?

Does NoVa not having Dulles airport mean their success is not fair for MoCo?

Anonymous said...

Lo pro po frequent this blog. Just sayin

Skippy said...

10:00am more importantly, a mentally ill man who believes he was a "competitor" to Dyer frequents this blog. By frequent, I mean he refreshes it every 30 seconds to troll and insult. Hope anonymous crazy man eventually gets help!

Anonymous said...

Skippy is nuts to think the "lone troll" is AK. Or is the "lone troll" Equity One PR? Or a county councilmember? Or what is it now?

Anonymous said...

Robert Dyer specifically said if you aren't first you're a loser.

Anonymous said...

11:01 AM You're saying there's more than one person throwing a tantrum this morning because they couldn't post weird comments a moon bounce story? lol.

Anonymous said...

"Skippy" = Lone Shill

Anonymous said...

"Tantrum"?

Shill doth protest too much.

Anonymous said...

If you're spending all day lamenting that you couldn't post anonymous weird comments on a moon bounce story, please get the help you need before you hurt yourself or others. Come back once you are well again.

Skippy said...

I am concerned about the mental illness of 9:36AM as he melts down not being able to post weird comments about a moon bounce.

Apparently no one in anomyous's personal life will help him, I'm actually showing concern here. His obsession with Robert Dyer is scary.

Anonymous said...

Reading the posts from "Skippy", he seems to be the one who is "obsessed". LOL at #TeamBirdbrain.

Anonymous said...

Agreed.

Robert Dyer said...

9:16: No, because Montgomery County leaders have actively chosen not to build the Outer Beltway connection that would have given us direct access to Dulles Airport. The mess we're in is their fault as a result. In fact, Nancy Floreen was caught on video saying "we don't have Dulles Airport," when she has been in office almost 20 years and has never proposed building that old master plan highway that would give us Dulles! Embarrassing.

Anonymous said...

So why didn't you have campaign funds? Or get more press? Or increase voter turnout?

Anonymous said...

Don't know about the other 2, but not getting press was an issue with several candidates, not just Dyer.

Anonymous said...

Agreed

Anonymous said...

Robert Dyer is absolutely right. Just as he discussed numerous times The Washington Post's recent opinions on the current county council members, the lack of coverage for Robert Dyer is a clear indication of the newspaper's opinion of Robert Dyer as a legitimate candidate.

Anonymous said...

Clearly TWP no longer like the current council members as Dyer pointed out. They also didn't see Dyer as a serious candidate.

Anonymous said...

So, like you say, 8:03PM, things and opinions change.
Agreed.

Anonymous said...

Is TWP giving Dyer press now? Or is that unchanged?