After a significant period of time in which the future of The Floridian Condos was fuzzy at best, the Goldstar Group, a company located in Bethesda, purchased the building at auction last week, bringing stabilization to a building that needed it. It was just over a month ago that the Floridian filed for foreclosure, leaving dozens of potential DC Condo buyers behind.
The Floridian, a brilliant building packed with all up-to-date appliances and amenities, is located right in the heart of the U Street Corridor at 929 Florida Avenue in NW. The Floridian features large, open floor-plans, with window walls that provide incredible views of DC. High ceilings and hardwood floors add to the urban lifestyle, as do the kitchens with granite countertops, stainless steel appliances, and gas cooking.
According to an article written by Sarah Krouse of the Washington Business Journal, the Floridian had “interest from at least 50 potential buyers, the project’s lenders determined that the sales pace was not rapid enough and began foreclosure proceedings”.
Goldstar is hoping to attract buyers with the opportunity to be in the same Floridian building, with the same location, at a cheaper price than before the foreclosure took place. Kady Development, the company in charge of sales prior to the foreclosure, was asking for more than $500 per square foot in each unit, while Goldstar has to potential to slash costs per square foot all the way down to the low $400s. There are 86 units still available at the Floridian.
Read Krouse’s entire article in the WBJ here, and for more information on the Floridian log onto DCCondoDomain. Take advantage of the new price cuts at The Floridian and contact us for a tour today!
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