2014 | Real Estate

Bethesda Condo Builder Boasts Of $10.5 Million Penthouse Unit

The developers behind an ultra-luxurious condo building in downtown Bethesda say their penthouse unit will go on the market for $10.5 million, which would make it the most expensive condo unit ever to sell in the Washington region.

The Lauren, the eight-floor, 40-unit building under construction at Hampden Lane and Woodmont Avenue, already turned some heads when it started touting “Residences from the several millions,” last year.

On Monday, developer 1788 Holdings and partner Persimmon Capital Partners announced just what the extent of “several millions” will mean.

The penthouse unit (known as “Residence 703”) will sit on top of the building, with 7,300 square feet in space, a direct access elevator, hardwood and natural stone flooring, three bedrooms, four-and-a-half bathrooms, a formal dining room, 600-square-foot grand salon and a gourmet kitchen.

It will also have a 1,500-square-foot private terrace overlooking Bethesda Row and downtown Bethesda, floor-to-ceiling cabinetry, an oversized soaking tub in the master bathroom, a 100-bottle wine refrigerator and the chance to work personally with building designer Jeff Akseizer and architect Robert Swedroe during construction.

The penthouse will be the most expensive condominium listing ever in the Washington area, according to TTR Sotheby’s International Realty, which is marketing the property.
“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 TTR Sotheby’s broker David DeSantis.
Developer 1788 Holdings is also building the high-end Quarry Springs condo project on River Road just outside of the Beltway. At a Bethesda-Chevy Chase Chamber event in June, 1788 Holdings managing principal Larry Goodwin said his company saw demand for the type of ultra-expensive units thought to be out of reach — even in wealthy downtown Bethesda.
“I don’t think the high-end is being serviced like it is in other cities,” Goodwin said. “These are targeted toward the very upper-ring demographic.”
The other units in the building won’t be easy to come by, either. The cheapest unit starts at $1.5 million.
Construction is expected to finish in the early spring of 2016.
Photos via 1788 Holdings/Persimmon Capital Partners