A historic, 128-year-old mansion, home of the Swann House Bed & Breakfast, located north of Dupont Circle at 1808 New Hampshire Ave, NW, and built in 1883, will be sold at auction next Friday.The 3-story dwelling dangles crystal chandeliers, and is pocketed with 9 carved fireplaces, offering 12.5 bathrooms, and 12 guest rooms dressed-up in varied themed decor like the "Zen-inspired" "Shanghai'daway" in a dim section of the bottom floor, and the "Nantucket" room in breezy blue shades with seahorse-stamped wallpaper on the well-lit top floor.
The 5,405-s.f. lot, with 7,538-s.f. home - zoned for commercial use - was purchased in 2003 for $329,000, but the 2011 tax assessment pegs the value at $2.19 million; with property taxes over $36,000 this year. The property will be auctioned off by Tranzon Fox at the office of Ober | Kaler on H Street, NW.
Update 10/12: Per Tranzon Fox, the auction has been cancelled due to a bankruptcy filing.
Washington D.C. real estate development news
6 comments:
It's worth way more than the assessed value.
This place was worth A LOT more than $329K in 2003. Something strange is going on here. I dont understand why its going to auction when they could just sell it for something way higher than $329K if that is really what they paid for it. I see that it was on the market for $2M in 1997 but didn't sell. Weird!
Looks like its fate will be conversion to condos.
Yes, there is something fishy about that $329,000 price in 2003.
the building was purchased in 1996 for around $900,000. 2003 was simply change of names on the deed.
This is a tough property to value. It's a gold mine as a B&B, but is too big to be a single family house and too much work to make a condo project out of it. It could work for embassy space, but has to be rezoned. It will either go to a speculator or another enterprising innkeeper. I hope the later as I would hate to have such a vibrant neighborhood anchor close its doors.
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