Luxury Cooperatives Stats
| Average Price | $2.1M |
|---|---|
| Lowest Price | $1M |
| Highest Price | $5.2M |
| Total Listings | 21 |
| Avg. Price/SQFT | $824 |
Property Types (active listings)
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More About Luxury Cooperatives in Washington Metro
Cooperative living differs from one region to another and is often most prevalent in older cities. For those living in New York City, apartment co-ops represent the lion’s share of residential buildings, with some estimates putting the number as high as 75 percent. There are numerous other high-density parts of the country that have a presence in the cooperative real estate market, although not nearly at the same level as NYC.
As one of the oldest urban areas in the United States, Washington, DC has more co-op buildings than might be readily apparent. The majority are older, historic buildings, but not exclusively so. You’ll also find coops outside of DC as well, in parts of Maryland and Virginia. If you’re interested in knowing what the most popular cooperative community in Washington is, it’s the iconic Watergate complex in Foggy Bottom.
By most accounts, DC’s first cooperative was the Concord, dating to 1891. By the 1920s, a Washington developer by the name of Edmund Flynn began snapping up impressive apartment buildings and converting them to cooperatives. This proved to be an effect way for upper-class citizens to form boards, pool their money, and control the tenancy and ownership of buildings during a time when depression era bank financing could be spotty. Today, some of the grand old buildings in DC are still co-ops, including 2101 Connecticut, The Normandy, The Broadmoor, and The Presidential.
While many of Washington’s noted cooperatives offer staffed front desks and other amenities, few can match the overall luxury package of The Watergate. The mid-century modern complex occupies 10 prime acres along the banks of the Potomac River, just a stroll away from the White House. The mixed-use community includes the famous Watergate Hotel, an office building, retail, three luxury residential buildings, multiple fitness centers, and four swimming pools. The cooperative residences are quite spacious, and many feature private terraces with outstanding river views.
In a real estate market dominated by single-family detached homes, rowhouses, and condos, it can be difficult to identify the relatively smaller number of buildings that are owned cooperatively. The DC Luxury Collection has done the homework for you. Just scroll this page for active co-op listings. Call Andre Perez at District Partners at Compass at 202-929-3600, for more information about these unique properties, or to schedule a tour.
Curious About the Condo Market In Washington Metro? Contact Andre Today.
Get in touchLuxury Coops in DC Metro FAQs
Q: Is it difficult to get board approval from a coop in Washington Metro?
A: Each cooperative board is different, and it would not be accurate to generalize. However, Washington coop boards are not known to be particularly difficult.
Q: Why are home owner association fees higher at cooperatives compared to condominiums?
A: The higher fees at coops can be deceptive, as they typically include property fees and utilities. Most condo associations leave those fees to the individual owners to deal with.
Q: Why are there more cooperatives in Washington, DC compared to surrounding states and counties?
A: It is largely a matter of continuity. Cooperative housing gained a foothold in DC many years ago, and that popularity has lasted, including longtime coop buildings.
Q: Do luxury coops cost less than luxury condos?
A: Not necessarily. Coops at famous addresses such as the Watergate or 2101 Connecticut can be every bit as expensive as comparatively sized condominiums.
