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The Neighborhood Collection, A Year Later

By September 20, 2019

750 on the Hill, Edison, Wallingford 45

A year ago, after one of the worst real estate summers we’d ever seen, the Neighborhood Collection, a group of three apartment buildings that decided to convert to condos started selling units. Solis, a Capitol Hill condo, also started selling that weekend. That weekend proved to be a bust.

A year later, the Collection has disbanded, switched listing firms, in some cases, several times, and in one case, a building re-branded, but perhaps most importantly, they dropped prices and loosened rental restrictions which finally got sales going:

750 on the Hill (formally Atrium) on Capitol Hill: 67% sold + pending
34 units, 23 sold + pending
Studios and 1 bedrooms starting from $399,950

Edison on Capitol Hill: 47% sold + pending
51 units, 24 sold + pending
Studios and 1 bedrooms starting from $419k

Wallingford 45: 41% sold + pending
48 units, 20 sold + pending
Open 1 bedrooms and 1 bedrooms starting from $399,950

Meanwhile, Solis, which launched that same weekend and arguably had the best success with sales, has been converted from a condo to an apartment.

The success of the Neighborhood Collection seemed to be doomed by a launch with minimal promotion, after a challenging summer, without a proper sales center. Though the real challenge was trying to sell apartment grade finishes in wood framed buildings at high rise condo pricing.

I’m the founder and managing broker of Urban Living. I love lofts, floating homes, new construction and mid-century moderns but will help you buy or sell just about anything.

Get in touch to:

  • Understand the market
  • Find your perfect home
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Contact:

206-618-1600