ECKINGTON

Submarket Statistics 2022 Recap

Quincy Lane, the new mixed-use development in Eckington built by JBG Smith, LCOR, and Grosvenor, has slowly come to life over the past year. Two condo buildings delivered in 2021, one sited on each side of the cobblestone promenade that serves as the spine of the project. 1625 Eckington, a 179-unit building at the west entrance to the new street, represented 62% of settled sales in 2022. The building’s efficiently sized one-bedroom units went fast during the early sales period, so 2022’s sales were mostly made up of larger units. As a result, average size and absolute prices went up, while per-square-foot prices trended down. Another 23% of settlements were at City Homes, the townhome-style condominiums at the other end of the development that have struggled to generate much sales velocity. Eckington’s remaining condo sales came from conversions of the neighborhood’s abundant townhomes. As a rental market, Eckington is still new on the scene, with just three Class A buildings, two of which delivered in 2021. Solid rents ($2.93 per square foot) and low vacancy (11.3%) indicate there’s room for more growth.