Real Estate Roundup: Bethesda’s Epicenter of Teardown Home Projects

Real Estate Roundup: Bethesda’s Epicenter of Teardown Home Projects

Plus: Sales numbers for The Lauren luxury condos; open house at $2.3 million home near Landon School

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The new construction home at 5915 Kingswood Road

Via MRIS

Home builders continue to tear down old homes and build bigger ones in their places all across Bethesda, but perhaps no neighborhood is seeing as much activity in such a confined area as Fleming Park.

The neighborhood, conveniently located just east of Old Georgetown Road and just north of the Capital Beltway, is seeing rapid transformation.

A two-block stretch of Kingswood Road from Old Georgetown Road to Broad Street has four new homes under construction and builders are reportedly prepping two older homes for demolition.

“We probably get a postcard every week that asks if we want to sell our house for a teardown,” said Joan Hurley, a Broad Street resident since 1968. “Never in a million years did I think we’d end up where it is today.”

The 1950-era Cape Cods and ramblers are quickly vanishing from the neighborhood, Hurley said. In their place are going arts and crafts-style homes measuring upward of 7,000 square feet with four levels, multiple first-floor entrances and limited backyard space.

“It’s a hidden gem. It’s just a friendly, vibrant, very welcoming place to live,” said Jill Schwartz, a Realtor who moved into a newly built home on Kingswood Road last year. “The neighborhood is providing the amenities of a McMansion without the McMansion feel.”

Schwartz pointed to the neighborhood’s proximity to the Capital Beltway’s interchange with Old Georgetown Road, but also to nearby Democracy Boulevard, Grosvenor Lane and Rockville Pike.

The neighborhood also has access to a local park and the Bethesda Trolley Trail. It’s now firmly on the radar of local home builders.

In the last year, new homes have sprung up at 5711 Kingswood Court, 5913 Kingswood Road, 5915 Kingswood Road and 5904 Kingswood Road. The homes are priced between $1.3 million and $1.6 million.

According to real estate news outlet Maryland Newsletters, Frederick-based home builder Wormald Homes recently paid $620,000 for the existing home at 5808 Kingswood Road and an unidentified builder now owns 5804 Kingswood Road.

5915 Kingswood Road (left) and 5913 Kingswood Road (right) shown in 2014, before the homes were torn down, via Google Maps

Developers happy with sales pace at super-luxury The Lauren condominiums

Nine of the 29 units at The Lauren condominium building in Bethesda have been sold.

And according to developers 1788 Holdings and Persimmon Capital Partners, that pace has exceeded initial expectations for the building that will feature units ranging in price from $1.5 million to $4.5 million—plus the $10.5 million penthouse that could go down as the most expensive condo ever in the Washington, D.C., area.

“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,” Larry Goodwin, founder of 1788 Holdings, said.

The Lauren is set to open on Woodmont Avenue between Hampden and Montgomery lanes in March.

Open house this weekend at $2.3 million, five-bedroom home in Bethesda

This five-bedroom, four-and-a-half bathroom home near the Landon School will be open to prospective buyers from 2 to 4 p.m. Saturday.

Washington Fine Properties agent Susie Maguire has the listing.

The nearly 6,700-square-foot home at 8106 Merrick Road was built in 1998 and features a first-floor master bedroom suite and covered porch.

 

Via MRIS

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