Urban Pace Sells Out Washington, DC Condos Topping $800/SF

– Urban Pace, Washington, DC’s leading new home sales and marketing firm, has sold out Victoria, an all-new condominium in the dynamic 14^th Street Corridor in Washington, DC. Victoria’s condominium homes sold from $350,000 to $1,077,000, with a top price of over $800 per square foot.

Built by Drummond Development, Victoria features elevator service, underground parking, outdoor spaces, and some of the best views in the city. Located at 1443 Chapin Street, NW, just steps from historic Meridian Hill Park, Victoria has 16 one- and two-bedroom residences including four luxurious duplex penthouses.

Urban Pace President Lynn Hackney commented: “Victoria sold at prices that exceeded our expectations, a testament to the project’s quality construction and excellent location with the best of both worlds: the tranquility of Meridian Hill Park and proximity to the restaurants, shops, and nightlife along 14^th and U Streets.”

Drummond Principal Steve Schwat remarked: “For a long time, we have aimed to build condominium homes that differentiate themselves from the rest of the product in the market. Quality in design and construction as well as thoughtful amenities help to create homes that our buyers appreciate. We were able to achieve such a high price per square foot at Victoria thanks to the project’s DNA, the market, and the skills of our sales partner, Urban Pace.”

Victoria is the second condominium project on Chapin Street completed by Drummond Development, the for-sale division of Urban Investment Partners. Meridian Heights, completed in 2005 at 1421 Chapin Street, is among a number of condominium projects built or renovated by Drummond in the last few years, including The Archbold, Providence Square, Penn Circle, The Drummond, and WY18.

About Urban Pace: Urban Pace, LLC is a privately owned company that has been in the business of selling and marketing urban residential real estate for more than 12 years. The Urban Pace portfolio of properties exceeds three million square feet of urban condominiums and townhomes in the Washington, DC metropolitan area. For more information, please visit www.urbanpace.comor call 202.841.2439. Follow Urban Pace on Facebook,(www.facebook.com/urbanpace), Twitter(https://twitter.com/urbanpace), and YouTube.

About Drummond Development:  Founded in 2001, Drummond Development, is the for-sale subsidiary of The UIP Companies, Inc.  UIP is a leading real estate investment, development, and property management firm based in Washington, DC. The firm invests opportunistically in a variety of asset classes, with a primary focus on multifamily properties in select neighborhoods. Since 2001, UIP’s principals have sponsored real estate funds throughout the DC metropolitan region with a total valuation of over $450 million. For more information about UIP, visit www.uipllc.com.