Reply to What a million now gets you near American University

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[quote=Anonymous]Ok. Here's some inside info from someone with very detailed, very long-lived knowledge. Age, impecuniousness, and some other less common challenges are all at play with this property. It definitely hearkens back to the old AU Park, but I assure that's not all you are seeing here. There's a touch of mid-20th century class conceit (which was not totally in keeping with the rest of the old AU Park) thrown in for good measure, too.

This property will be interesting to watch to see how will thought out the recent mania for AU Park really is. It's obviously become a top destination for a certain kind of moderately well-born (private schools and/or vacation properties) Democratic-aligned DC professional Gen-Xer or millennial.  And while I think AU Park has its virtues, I see really bad judgement at work in the recent price run ups. The confluence of factors here makes me especially question the assumptions that are baked into prices. The person who buys this *should* be looking much more closely than most in this market look. But I fear those folks who look closely will throw their hands up in puzzlement at this price or even close to it.[/quote]

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