November 16, 2016
Waiting in line for a luxury condo paid off for 20 lucky and wealthy buyers
Daryl Judy of Washington Fine Properties was one of the real estate agents who hired someone to stand in line for him last week to snag one of the coveted appointments with the sales staff of Westlight, a 71-unit luxury condo building under construction in the West End neighborhood of Northwest Washington.
On Monday night, Judy learned his preparation and foresight were rewarded. Not only did he get an appointment, but also the contract he submitted on behalf of his clients was accepted by the developer.
All 20 units released by the developer were put under contract, according to Mei-Mei Watts Venners, director of sales at Westlight. Every unit went under contract at full list price or higher. Prices for the units start at $625,000 for 631 square feet and run upward of $4.4 million for a 3,051-square-foot three-bedroom residence. One unit received four offers. Venners declined to say how much above the asking price that unit went for.
Because D.C. law gives buyers 15 days to change their mind, Venners and her staff were in the process of writing back-up contracts with those buyers who lost out in the first round.
“We’re thrilled,” Venners said. “Everybody seems very pleased.”
Knowing the demand would be great, Judy hired someone to stand in line starting at 5 a.m., even though no appointments would be taken until noon.
“We had a plan A, plan B and plan C,” said Judy who wound up No. 15 in line. “This is the one we wanted, but we were fearful. Of the 20, I didn’t know if anyone was going to get mine or not.”
Judy was given an appointment on Thursday. Because he was out of the country that day, he had his business partner submit the contract.
“We wrote a really good offer they couldn’t say no to,” Judy said.