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The Metropole, located at 15th and P Streets. Porta-potties not included with purchase.
A few weeks ago, I attended the opening of the Metropole, a $70 million, 90-unit building, right across from the Whole Foods on P Street in the Logan Circle area. I wasn’t the only press person in attendance. Washingtonian magazine’s website covered the event, as did the Washington Post. The party had a Hollywood/red carpet theme. The hallways were jammed. By the elevator, guests received a fake ticket directing them to model units. “Become one with the beautiful, mysterious, glamorous fabulousness of life in the best neighborhood in the city,” it flirtatiously read.
Well, apparently quite a few people have complied. The building is roughly 60 percent sold out—-though the opening night party didn’t provide much of a bounce, according to sales manager Andrew Riguzzi. Roughly 20 percent of the condos sold during the “first offering period,” a few months in 2005. Then, the sales office closed, and was re-opened in Spring 2007. In that period leading up to the party, some 30 percent of the units sold.
Then, on September 25, the Metropole had its big bash. More than a thousand people showed, according to the developer’s publicist Matt Hagan. I’m no fire hazard expert, but if I had to guess, there was a fire hazard in that lobby. It was packed shoulder-to-shoulder.
The tidal wave of sales did not come though. Since the party—-still less than a month ago—-two new units have gone under contract. Explains Riguzzi: “I don’t expect to get too many more until our building is really finished out. These units are still a little dusty. Until I can present our beautiful finished product, I think that’s when we’ll start having people really come in.”
Residents will begin moving into the bottom levels within the next month. The entire place should be filled up early next year. The end is in sight for Riguzzi and his sales team, he believes. “I would like to think that we could be out of here by February,” he says.