By Daniel J. Sernovitz, Washington Business Journal
That’s what Capital City Real Estate is hoping to find out after completing a multimillion-dollar renovation at 1645 31st St. NW, a 10,000-square-foot home once owned by the Bealls and Williamses, two of Georgetown’s oldest families.
Capital City began holding open houses Tuesday and has retained Select Real Estate to market it to interested buyers. Capital City Principal Scott Zimmerman said he hopes the property generates strong interest from house hunters given the recently completed renovation and the property’s history and lineage. The home, designated an historic landmark, was built around 1817. Its amenities include double parlors, a private elevator, six bedrooms and a separate carriage house.
“The property has got a lot of history to it, it’s one of the most unique private estates in Georgetown,” Zimmerman said.
Capital City paid about $7 million for the property a couple years ago after a prior owner gutted it with similar renovation plans in mind. When Capital City stepped in, Zimmerman said, the property needed quite a bit of work.
“It traded hands a few times before it came to us and it really is a property that needed a lot of attention,” he said.
Capital City substantially completed its renovations, designed by architect Dale Overmyer, about a month ago. Zimmerman said he expects the property will sell to another homeowner but has not ruled out possible interest from nonprofits or embassies given the home’s size and layout.