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Rosslyn's Gaslight Square selling fast
Washington Business Journal
Tuesday, March 1, 2011

Before kicking off a marketing campaign, Abdo Development is close to selling $12 million worth of units at the Gaslight Square condominium project in Rosslyn. “I initially had push back from underwriters, concerned there were 10 penthouses with an average sales price of $1.3 million,” said Abdo Development CEO Jim Abdo. “I kept pushing back and said they would be the first units to sell.”

Sure enough, in a nine-day span, Abdo sold seven of the 10 penthouses planned at Gaslight, as well as a two-bedroom flat. The company broke ground on the 117-unit development more than a month ago. The project will sit on a full city block adjacent to Abdo’s Wooster and Mercer Lofts at Clarendon Boulevard and Quinn Street. The one-bedroom (with den) and two-bedroom units at Gaslight Square will rise in three buildings that resemble townhouses. Each unit will have its own outdoor space and be served by a private elevator. The condos range from 1,200 square feet to just over 1,900 square feet, and prices are expected to span between $700,000 and $1.4 million. Read more »