Scoop: D.C. Four Seasons residences set condo record
The big picture: The development — which has been in the works for over a decade — started selling units in October. Since then, Washington has seen a flurry of high-end real estate transactions as President Trump's uber-wealthy cabinet members snag homes, along with high-profile tech titans and CEOs.
By the numbers: The Residences are still under construction, but several units have gone for over $3,000 per square foot, says Peter Armstrong, managing director of the project's co-developer The Georgetown Company.
This breaks the previous condo price-per-square-foot record of $1,998, according to Bright MLS. (Although the group only tracks properties sold by an agent and entered into the MLS system, not units sold directly from a developer to a buyer.)
The current average price per square foot at the Four Seasons is $2,786, and the current average sale price is $5.4 million, Armstrong tells Axios.
State of play: The Four Seasons Private Residences — located on the site of a former Georgetown heating plant — will have 64 units ranging from one to four bedrooms once complete.
Plus: Luxe amenities like a wellness center with an indoor pool and spa rooms, a wine cellar and tasting room, a concierge service, and 24-7 valet.
Georgetown Company is co-developing the project with The Levy Group in partnership with Mohari Hospitality.
What we're watching: The project is expected to be completed in spring 2026, per the Georgetown Company — and Axios is waiting to see which big names move in.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
32 minutes ago
- The Hill
House GOP advances Trump megabill after Johnson calls conservative holdouts' bluff
House Republicans advanced their 'big, beautiful bill' full of President Trump's legislative priorities early Thursday morning, overcoming a key procedural hurdle after GOP leaders left the vote open for hours to quell an internal revolt. The chamber voted 219-213 to adopt a rule governing debate on Trump's domestic agenda, opening up discussion on the megabill and teeing up a final vote on the package. The vote was something of a gamble for Speaker Mike Johnson (R-La.), who has faced opposition to the legislation from various corners of his ideologically diverse conference. Heading into the rule vote, conservatives had warned that they would sink the procedural measure unless it was delayed beyond Wednesday. Johnson called their bluff, held the vote open for more than five hours, and then adopted the rule after winning just enough support — an effort that got a big boost from Trump, who spoke with some of the holdouts during the long, midnight impasse. Adoption of the rule sets the stage for Johnson and his leadership team to pass the legislation later Thursday morning, well ahead of their self-imposed July 4 deadline. The Senate had passed the same bill on Tuesday, so the legislation will head directly to Trump's desk, where he's expected to sign it with a ceremonial flourish on Independence Day. The chamber adopted the rule after a whirlwind of an afternoon on Capitol Hill, which saw a different procedural vote stall for more than seven hours as holdouts huddled with Johnson and White House aides behind closed doors. It marked the longest vote in House history. Hardline conservatives have hammered the 'big, beautiful bill,' wary that it cuts too little in federal spending and piles too much onto the national debt. Those concerns only grew after the package returned from the Senate, which had altered the initial House bill in ways that increased deficit spending. On Wednesday morning, a number of hardline conservatives had vowed to vote against the rule if it came to the floor. By Wednesday evening, those warnings had softened slightly. But shortly before the House rule hit the floor, several spending hawks told reporters that if Johnson called the vote they would abstain, requesting more time to learn the details of the Senate-passed bill. The Speaker called the vote anyway, successfully calling their bluff and allowing the tenuous process to move forward. Leadership called the vote minutes after Trump urged Republicans to approve the megabill Wednesday night. 'It looks like the House is ready to vote tonight. We had GREAT conversations all day, and the Republican House Majority is UNITED, for the Good of our Country, delivering the Biggest Tax Cuts in History and MASSIVE Growth. Let's go Republicans, and everyone else – MAKE AMERICA GREAT AGAIN!' Trump wrote on Truth Social. But then leaders were forced to again hold a vote open for more than five hours to solidify support. For several hours, it stalled at four GOP 'no' votes and 10 Republicans withholding their vote. Eventually, two of the holdouts voted to advance the measure, but Rep. Thomas Massie (R-Ky.) flipped his 'yes' vote to 'no,' putting the tally at 207 to 217. Several hours later, the president spoke directly with some of the holdouts, including Reps. Victoria Spartz (R-Ind.) Tim Burchett (R-Tenn.) and Massie. Not long afterward, Johnson announced that he'd secured the votes to pass the rule. The House will now proceed to debate on the 'big, beautiful bill' and then a vote on final passage, which Johnson said he expected around 8 or 8:30 a.m.
Bloomberg
44 minutes ago
- Bloomberg
South Korea Puzzles Over US Trade Demands as Deal Still Elusive
South Korean President Lee Jae Myung said it remains unclear if trade talks between Seoul and Washington can result in a deal before next week's deadline to avert sweeping tariffs from President Donald Trump. 'We are doing our best,' Lee said Thursday, speaking at his first press conference since taking office last month. 'It's still not clear to each side what the other side wants,' he said, adding that the negotiations have not been easy so far.
CNBC
an hour ago
- CNBC
Treasury yields lower as investors await June's big jobs report
U.S. Treasury yields were lower on Thursday as investors awaited June's big jobs report and continued to monitor progress on President Donald Trump's spending bill. At 2:57 a.m. ET, the benchmark 10-year yield was 4 basis points lower to 4.253%. The 30-year bond yield was also down over 4 basis points at 4.781%. The 2-year Treasury yield was lower over 2 basis points at 3.772%. One basis point is equal to 0.01%, and yields move inversely to prices. Investors are anticipating the Bureau of Labor Statistics' June nonfarm payrolls report on Thursday, which measures the number of workers employed in the U.S. economy. Economists polled by Dow Jones are expecting that the economy added 110,000 jobs last month, lower than 139,000 in May. The unemployment rate is also forecast to increase to 4.3%, up from 4.2% in May. That's after the ADP payrolls report on Wednesday showed that private sector hiring decreased by 33,000 last month. Investors are also keeping an eye on Trump's "one big beautiful bill" which passed the Senate on Tuesday and has now returned to the House, where some Republican lawmakers remain fiercely opposed to the bill. The mega-spending bill is expected to add $3.3 trillion to the fiscal deficit over the next decade. On the trade front, Trump announced on Truth Social that the U.S. had come to a deal with Vietnam, which includes a 20% tariffs on imports from the country. Goods that were manufactured in another country, but were transferred to Vietnam before final shipment to the U.S., will face a levy of 40%.
