Record Co-op Sale At Washington’s Watergate Complex

Posted by Orb Staff on July 10, 2012 No Comments
Categories : Residential Mortgage

11949_watergate Record Co-op Sale At Washington's Watergate Complex One of the most prominent real estate developments in Washington, D.C., has seen a new record for an apartment sale.

The Washington Post reports that a three-bedroom co-op apartment in the South Building of the landmark Watergate complex sold for $3.1 million. John C. Lee, owner of Fairfax, Va.-based Lee Technologies, and his wife, Cynthia, purchased the co-op.

Although this is the highest sale price for an apartment at the Watergate complex, it is not a record for the market – units at the Residences at the Ritz-Carlton in the Georgetown section of the District of Columbia sell for upwards of $8 million.

The 10-acre Watergate complex consists of three residential buildings, an office building and a hotel that has been closed since 2007. Forty years ago, the complex gave its name to a political scandal that began with a break-in at the Watergate-based offices of the Democratic National Committee, which ultimately resulted in the resignation of President Richard M. Nixon.

(Photo courtesy of Wikipedia.)

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