Tuesday, April 29, 2014

1617 New Jersey Ave NW- Still vacant

Rear 1617 NJ Ave NW
Rear of 1617 NJ Ave NW
1617 New Jersey Avenue NW is being sold, maybe. According to a mailer I received from some Sotheby's agents 1617 is "Cntg/Ko", which means it is in limbo. The sale is contingent on something. I do remember seeing a sign out front to have it sold but never seeing it listed on my favorite go to real estate website. The list price was $270,000.
Looking at Redfin's page for 1617 NJ Ave NW, it shows this property on and off the market. 2/26/10 it was listed and delisted 3/24/10. Listed 5/2/12 and delisted the same day. 5/14/12 it had a pending contract, and then delisted 6/22/13. Listed again on 3/12/14.
This listing and delisting has not recently held off the vacant tax rate. In 2010 the property got a huge tax credit of $21K and wound up paying the normal rate that year. Two large payments were made in 2008, hinting that it must have been taxed at the higher rate that year. 2009 saw normal residential tax payments and there were no payments in 2010. About $10K was paid in 2011, a little over $18K in 2012, and about $10K in 2013. The property as of 4/27/14 owes a little under $10K for this year so far.
Selling the property might have been difficult for the bank that supposedly foreclosed on owner Cory D. Chase, as the property is still in his name.

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