$10.5 Million, 7,300 Square Foot Bethesda Condo Includes Private Rooftop, Private Wine Storage
Bethesda, Md. (November 3, 2014) -- 1788 Holdings and Persimmon Capital Partners announced today that the penthouse at The Lauren under construction in the Washington, DC suburb of Bethesda, MD, will be offered for sale at $10.5 million, potentially making it the most expensive condominium ever to sell in the DC region.
The 7,300-square-foot property will sit atop the 8-level boutique development in downtown Bethesda, situated on the western edge of Woodmont Avenue between Hampden Lane and Montgomery Lane. The Lauren, designed by renowned Miami architect Robert Swedroe, will include 29 estate-quality residences with a starting price of $1.5 million. Construction is expected to be completed in early spring of 2016.
The penthouse will be the most expensive listing to date for a condominium in the DC metropolitan luxury real estate market, said David DeSantis, partner and managing broker of TTR Sotheby’s International Realty. “With residents of nearby Embassy Row,
Bethesda, and Potomac looking to streamline their estates, and more high-end buyers desiring the ease of urban living, The Lauren is answering the current demand in a major way. The Lauren penthouse will offer exceptional amenities in a truly extraordinary setting,” said Mr. DeSantis.
A Penthouse Built For Upscale Living
The penthouse – also known as Residence 703 – will have a direct-access elevator with a private vestibule that will open into an interior living space designed by Jeff Akseizer of the award-winning Akseizer Design Group. Decked with hardwood and natural stone flooring, the unit comprises three generously sized bedrooms; four and one half bathrooms, a formal dining room, a 600-square-foot grand salon, and a gourmet kitchen built for entertaining.
The sprawling 1,500-square-foot private terrace offers a quiet escape and sweeping views of downtown Bethesda, and compliments The Lauren’s 3,000 square-foot shared rooftop terrace, replete with a fully equipped catering kitchen, dining area, flat screen television, and wireless internet.
The kitchen will be equipped with Wolf and SubZero appliances; 48-inch gas ranges with hoods; premium thick slab stone or marble countertops; and floor-to-ceiling private label cabinetry made exclusively for The Lauren. The spa-style master bathroom will feature natural stone flooring as well as natural stone tiling along the walls, with an oversized soaking tub, a ceiling mounted rain shower, and Waterworks fixtures throughout. In the penthouse, buyers will be able to work with Mr. Akseizer and Mr. Swedroe directly for a truly bespoke design experience.
Unparalleled Amenities At The Lauren
In addition to the penthouse’s own 100-bottle Thermador wine refrigerator, residents will have access to a 1,500-square-foot Wine Lounge located on the garden level, which will house a private climate controlled wine storage unit. The Wine Lounge’s large-screen television, separate bar, and catering kitchen make it the ultimate space for movie screenings, private parties, or board meetings. Penthouse residents will also enjoy two private underground parking spaces and valet parking; guest suites available for purchase; a fitness center; and 24-hour concierge, readily available for all requests.
“The penthouse is an unprecedented property that represents the epitome of upscale urban living,” said Mr. DeSantis. “With ‘white glove services and five-star-resort amenities that will be unrivaled in the Washington, DC market, our residents have it all at The Lauren.”
For more information about The Lauren or to arrange an interview with David Desantis, please contact Allix Wright, 202.733.5223, firstname.lastname@example.org.
About The Lauren
The Lauren is a new residential building that redefines urban luxury living in Bethesda. Upon completion, the project will include 40 unit luxury condominiums with 34 market rate units and six affordable units on seven floors. Designed by renowned architect Robert M. Swedroe with interiors by The Akseizer Group, The Lauren will feature iconic architecture, a luxurious finish package, an unsurpassed level of amenities, and is expected to deliver in the spring of 2016.
The project is a venture between 1788 Holdings and Persimmon Capital Partners. James G. Davis Construction (DAVIS) as the general contractor. Apollo Commercial Real Estate Finance Inc. (NYSE:ARI), a commercial mortgage REIT managed by an indirect subsidiary of Apollo Global Management, LLC has provided debt financing for the property while TTR Sotheby’s International Realty will oversee of sales and marketing. For more information, please visit www.thelaurenresidences.com.
About 1788 Holdings
1788 Holdings is a Washington DC-based real estate investment company with an investment focus in the DC metropolitan region. While the company’s capabilities include the acquisition, development and strategic oversight of office, residential, and industrial properties, the 1788 Holdings’ team is currently focused on developing boutique residential properties which redefine the high-end condominium living experience in the greater Washington area. 1788 Holdings is also the developer of The Estate Condominiums at Quarry Springs, a 97-unit, two-phase luxury condominium project located on River Road immediately proximate to the demarcation line between the communities of Bethesda and Potomac, MD.
About Persimmon Capital Partners
Persimmon Capital Partners was founded in 2008 and is a diversified alternative investment company focused on direct, private investments primarily in private equity, real estate, and alternative asset classes. As an active, growth-oriented investor, Persimmon looks to partner with strong management teams to build sustainable value and generate superior risk adjusted returns. Persimmon opportunistically pursues real estate investments in a wide variety of assets classes with a focus on the acquisition and development of residential properties (www.persimmoncap.com).
4901 Hampden Lane
Bethesda, MD 20814