When Looks Can Be Deceiving, A Palisades Redevelopment Story

When Looks Can Be Deceiving: A Palisades Redevelopment Story

Sometimes, looks can be deceiving. Last year, Palisades Brokerage had the privilege of representing the sellers of a rare redevelopment opportunity in the heart of the Palisades: a flat 6,250-square-foot lot (50' x 125') directly across from the Palisades Recreation Center. It's one of the most coveted spots in the neighborhood. Our sellers had planned to build their forever home there. When the construction bids came in much higher than expected, they decided to pivot and sell. The property held a charming cottage, but years of deferred maintenance made clear it was better suited to redevelopment. It even came with a ready-to-use raze permit, essentially a golden ticket for builders.

Before launching our marketing campaign, we reviewed the architectural plans the sellers had commissioned. They were lovely, but they didn't make the most of what the lot could hold. So we brought in a well-respected local engineering firm we trust for a fresh feasibility study. That's when things got interesting. A closer look revealed complexities the original plans hadn't fully accounted for, from the mature trees on and around the site to the many layers of DC's famously stringent building regulations. None of it made the lot less special, but it did change the conversation about what it would take to build there.

Despite those hurdles, the property drew strong interest, with multiple offers at and above asking. A couple of buyers ultimately stepped away, unable to get comfortable with what lay ahead. Then we found the right buyer: a developer with the experience and confidence to navigate DC's labyrinth of regulations and deliver something spectacular, as they always do. They secured the property at a fair price that reflected the challenges, and our sellers were thrilled with the outcome.

From Vision to Reality

Fast forward to today, and the result speaks for itself. Crafted by award-winning Dilan Homes, 5113 Sherier Place NW is a stunning five-bedroom, five-and-a-half-bath residence with four finished levels of thoughtfully designed living space.

A charming front porch greets you on arrival, the perfect perch for watching the Fourth of July parade amble by. Inside, soaring ceilings set the tone for a chef's kitchen that anchors the main level, outfitted with a full Viking appliance suite, custom cabinetry, and Brizo fixtures. A dedicated home office overlooks the backyard. The great room is centered on a fireplace and opens through French doors to the rear porch and patio, a seamless flow between indoors and out.

Upstairs, the primary suite offers two walk-in closets and a spa-inspired bath with a freestanding soaking tub, James Martin double vanity, and Kohler Purist fixtures. It's one of several spa-caliber baths throughout the home. A dedicated laundry room on the bedroom level is the kind of everyday luxury buyers appreciate.

The top floor is expansive and flexible, with a bedroom suite and an open flex space with a bar area, equally suited to a playroom, studio, or guest retreat. On the lower level, an entertainment room with its own bar, a fifth bedroom with a full bath, a mudroom, and a single-car garage complete the picture. Curated Visual Comfort lighting and Emtek hardware finish every detail.

And then there's the location. Across from the Palisades Recreation Center, the home is steps from Et Voilà, BlackSalt, Battery Kemble Park, the Capital Crescent Trail, and Fletcher's Boathouse. It sits within the Key Elementary School district and just minutes from The Lab School, Washington International School, The River School, and The Field School. With Georgetown and downtown Washington close at hand, it's the rare home that offers both a private retreat and the ease of city living.

The Moral of the Story

Hire the right people from the start. What looks like a cost-saving move up front, such as an out-of-town architect or a less experienced engineer, can cost far more in the end.

At Palisades Brokerage, we connect our clients with trusted local professionals who understand the nuances of building and selling in DC. The right team doesn't just get you to the finish line; it helps you win there.

To Move or Not to Move

The Perry’s are considering a major renovation and addition to their turn of the century historic farmhouse. They have made a substantial investment in plans and permits and when they bid these out to builders, the budgets came in and the price was “a bit of a shock” to them. They have spent 6 months of their time and a substantial amount of money, and the doubts about the return on their investment crept in. Palisades Brokerage was engaged to perform a valuation of their home before and after construction. Our proprietary model yielded a less than 2% deviation from the actual budget numbers given by a prominent builder. The return on investment after construction wasn’t great, but it was sufficient enough considering the time and money they had already spent and, as such, the couple decided to move forward with the renovation and addition. If you are considering a renovation or addition versus moving make Palisades Brokerage the first call you make. All too often homeowners engage the services of design professionals before 1) considering the cost of construction 2) considering the return on their investment. Our proprietary model coupled with our industry expertise can give clients a good idea of both so they can confidently make a decision that will benefit them and their financial future.

Infill Lot Subdivision

Mr. Wilson is personal representative of an estate that controls a large residential lot. He wants to evaluate the highest and best use of the property to maximize the value for the legatees of the estate. He wants to explore subdividing the lot and selling the lots to a prospective home builder. PB Brokerage was engaged to assist in effectuating this complicated strategy and manage the team of professionals needed to succeed.

Development Advisory & Feasibility Analysis

Tony and his partner inherited a small multi-family building and the lot adjacent to it. He is interested in developing the lot. Tony wants to know if it makes sense to build on the parcel of land, and if so, what he can build on it and what form of ownership he should devise. He also needs assistance in creating an accurate pro-forma that will help him better understand his return on investment.

Value Added Resale

WSC LLC is residential development company looking for properties in Washington, DC to reposition and sell after substantive renovations. WSC would like to find both openly listed and off market properties for sale that meet their return criteria. They are having a very difficult time sourcing new properties due to limited inventory and tremendous competition on the market. WSC hired PB Brokerage to provide the inventory as well as competently and successfully relist the properties once completed.

Land & Real Estate Valuation

Mrs. Roberts is a 67-year widow who with her husband acquired several properties over the course of 35 years and now for estate planning reasons needs to explore her options – either selling some or all of the properties. First, Mrs. Roberts is curious as to the value of her properties. Second, she would like to understand what her options are if she sells them, and most importantly, what she should do with the proceeds since she has considerable tax gain issues. PB was engaged to assist in the process.

Property Evaluation and Sale Preparation

A house is preparing to be sold in an estate sale by the children whose parents have recently both passed. The subject property is a coveted one acre parcel. Upon it sits a historic home that was built in 1882. Palisades Brokerage was engaged to provide an assessment and plan for the best way to extract value from the sale. PB orchestrated all aspects of preparing the property for sale including: getting rid of old furniture and trash, changing old window coverings, removing wallpaper, changing carpeting or other dated flooring, painting, refinishing hardwoods, emptying garage contents, landscaping and more. Through the efforts of Palisades Brokerage, the lot was subdivided and the sellers achieved significantly more than they would have otherwise if they had sold the property themselves.

Home-Owner Assessment and Unbiased Representation

A couple with two young children is looking for a property with charm in their perfect neighborhood by the river. The ideal property needs to be large enough in the event the couple decides to add on to the existing house/family. Palisades Brokerage found two off-market properties that fit their criteria. PB surveyed the properties with the couple and noticed a few things that were cause for concern. Specifically, one property contained old growth trees that would have effectively negated the potential to 1) create an accessory garage and apartment above that was on the couple’s wish list 2) perform any substantial addition or alterations that could meet the needs of the growing family. The other had foundation issues. Palisades Brokerage engaged the appropriate experts and confirmed their findings. The couple realized that they almost bought a house that would’nt have accomodated their needs let alone had latent defects. They greatly appreciated the unvarnished and thorough assessment that Palisades Brokerage provided them.