New York City-based Aria Development Group swept into DC last year aiming to make a splash in the city's red-hot apartment market.
After investing $10 million to renovate former corporate housing for the International Monetary Fund, their first major project - The Bond, an 83-unit apartment building near Dupont Circle -- is leasing up rapidly. In just two months of pre-leasing, more than half of the apartments already are leased.
“The Bond, Washington’s newest residential project in the West End/Dupont submarket, has experienced rapid leasing in its first weeks of operation,” said Joshua Benaim, Managing Principal of Aria Development Group,
“Forty-three apartments have been snapped up by a mix of local and international professionals who are enthralled with the apartments’ great natural light, European design finishes, and walkability,” Benaim continued.
K. David Meit, CPM®, President and CEO of Oculus Realty, which is leasing and managing The Bond, added: “We are thrilled with the market’s response to date. People love the community’s combination of old world charm and cutting edge technology. The Bond is convenient to both employment and entertainment and has a perfect WalkScore of 100. It is the first multifamily building in North America to feature ‘learning’ Nest thermostats in every unit. With rental rates beginning at $1,900, The Bond is comparable in cost to new multifamily buildings in other popular DC neighborhoods.”
The Bond is ideally situated between Dupont Circle, Washington Circle, Georgetown, and the downtown Golden Triangle. It is the first new apartment building to deliver in the Dupont Circle/West End neighborhood since Boston Properties’ highly successful Residences on The Avenue.
Aria also has made its mark on Miami, where it has developed the ultra-luxury oceanfront condominium 321 Ocean in South Beach. The group also has developed luxury mixed-use projects in New York City’s SoHo and West Village.