The Argent Condominiums, a building that stopped sales in August of 2009, could return to the market shortly, Will Smith of UrbanTurf reported yesterday.

The Argent, which is located at 1200 Blair Mill Road just outside of downtown Silver Spring, is a 96-unit building that held its grand opening in the Spring of 2009.  But the Argent, like many projects in today’s economic climate, encountered difficult sales, and ultimately pulled off the market.  According to Smith though, the Argent could be back sooner rather than later.

“There are signs that a sale might happen within the next couple months,” Smith wrote. “Which could mean the project is reintroduced to the market later this year or early next. But the exact fate of the building won’t be clear until the lender actually sells it and the new owner announces its plans. It is also unclear whether Argent would come back as condos or as apartments, or even if it would still be called Argent (probably not).”

Photo from Urban Turf

Smith continued, and likened the situation to another Downtown DC Condo.

“The story is reminiscent of The Dumont condominium in Mount Vernon Triangle,” Smith wrote. “Which also delivered at a bad time, couldn’t sell enough units, was ultimately foreclosed upon, and sold to a new buyer. The buyer, Equity Residential, converted the project to apartments and rechristened it 425 Mass. Since its relaunch this spring, the lease-up has been brisk, and the project’s woes appear to be behind it.”

You can read Smith’s entire article here.

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