Nine of twenty-nine condominium units now sold at project in downtown Bethesda
Bethesda, MD (January 6, 2016) – Approximately three months prior to the projected delivery date of The Lauren Residences in the downtown Bethesda section of Montgomery County, condominium sales have eclipsed the 30% mark, according to 1788 Holdings, LLC and Persimmon Capital Partners, co-developers of the luxury residential project situated at the intersection of Woodmont Avenue and Hampden Lane. The seven-story condominium building, which features twenty-nine units ranging from approximately 1500 square feet to 7300 square feet of space, is expected to be delivered and ready for residential occupancy in spring 2016.
“Considering the typical extended buying cycle for condominium homes in this high-end category, coupled with the comfort factor most consumers demand by seeing, touching and experiencing finished units, achieving this pace on this date has exceeded our initial expectations,” explained Larry J. Goodwin, Principal, 1788 Holdings. “We attribute this pre-delivery success to the vision of our buyers to recognize the unparalleled luxury amenities and premium services that will be provided at The Lauren, the limited product availability and the project’s distinguishing location within walking distance of downtown Bethesda.”
A granite facade with stucco balcony surrounds will highlight the exterior of The Lauren, punctuated by a five-story glass curtain wall with backlighting that will glow at night. The two-story lobby will be adorned with a floor-to-ceiling glass sculpture that, given its visibility from the streets surrounding the residential project, will serve as an iconic landmark in downtown Bethesda. Both the curtain wall and the sculpture were custom-designed and manufactured in Portland, Oregon by Savory Studios which focuses on the fabrication and installation of specialized architectural pieces.
The condominium units feature direct access from private elevators; nine foot ceiling heights; a Control 4 home automation system that enables smart phone and tablet control of the thermostat, speakers and window shades; vented fireplaces, thick slab stone or granite countertops and a high-end fixture and appliance package featuring Wolf, Thermador and SubZero appliances.
Spa-style master bathrooms will be equipped with natural stone flooring, natural stone tiling along the walls, an over-sized soaking tub, ceiling-mounted rain shower heads, Waterworks fixtures and mirrors embedded with high definition television sets.
The Lauren will also feature private rooftop residences for select units that range from 500-1000 square feet of space that give residences access to outdoor living in an urban setting. Five private guest suites ranging from 595 to 695 square feet of space and including a kitchen and full bathroom, are also available for purchase with select units.
Residents will have access to a 1500 square foot Wine Lounge on the garden level that is outfitted with a private climate-controlled wine storage unit, large-screen television set, separate bar area, catering kitchen and seating areas that is suitable for multiple-use functions. The Lauren also features an underground parking garage with valet service, 24/7 concierge and a fully-equipped fitness center.
The concierge amenity will focus on providing personal assistance services, event planning, travel arrangements and leisure and entertainment reservations. “Our Concierge Class service at The Lauren has been designed to become an extension of the resident,” stated Michael, Snyder of Persimmon Capital Partners. “Services will be closely tailored to each resident to add value and lift the burden from daily activities and special occasions. This includes booking a getaway weekend, catering a holiday party in the wine lounge and everyday tasks such as picking up dry cleaning or making a reservation for dinner.”
The Sales Model is on track to officially open at The Lauren in March, at which time the current Sales Center will relocate to the building on-site. The first sales closing are expected to begin in April.
The Lauren was designed by Robert M. Swedroe Architects & Planners, a Miami-based firm that has also created residential projects for The Trump Group, Turnberry Associates, WCI Communities and Coscan. Representative local projects include the Parc Somerset in Chevy Chase and the Kennedy-Warren in Washington, D.C. Akseizer Design Group, based in Alexandria, VA, handled the interior design work.
1788 Holdings, LLC is a Bethesda-based real estate investment company with a focus in the Washington, D.C. and suburban Maryland region. The company’s capabilities include the acquisition, development and strategic oversight of commercial office, residential and industrial properties including boutique residential properties. For additional information, visit www.1788holdings.com
Persimmon Capital Partners is a diversified alternative investment company focused on direct, private investments primarily equity, real estate and alternative classes. The company is headquartered in Washington, D.C. and was founded in 2008. For additional information, visit www.persimmoncap.com