Although the doors won’t open at Monarch until spring of 2023, eager buyers are lining up now to purchase their luxury residences in Northern Virginia’s hottest property.
Sales for the new Monarch condominiums are setting records in the dynamic Tysons marketplace, with more than 50 percent of the 86units already sold. That’s a sales pace that exceeds the expectations of Monarch’s developer, Renaissance Centro.
“We are thrilled to see such strong interest from prospects and buyers at this stage of development,” said Ilan Scharfstein, Executive Vice President of Renaissance Centro. “Monarch just celebrated its topping-out and the stylish exterior glazing is well on its way to completion, so when visitors arrive at our furnished model they are excited. They can see their dream home taking shape, and it fits their lifestyle. That’s what’s driving our sales success.”
And there is a lot to be excited about, Scharfstein says. Excellent construction progress is one thing, but the spacious residences and numerous amenities are what really excite buyers, he adds.
“We were looking for a place that would meet our lifestyle needs, including the ability to leave, lock and know you have that concierge service taking care of things,” said Lorraine Lavets, who with her husband Robert are among satisfied buyers. “We will enjoy a suburban environment with access to restaurants, shopping, and ease to get to family and friends,” she added. “Those are huge plusses.”
Mayhood Sales ManagerJohn Pobiak proudly points to planned building features that include 24-hour concierge services, a pool, residents’ party room and lounge, fully furnished co-working space, a state-of-the-art fitness center, pet wash station and a private clubroom on the penthouse level with stunning 180-degree views. Pobiak says that residents will enjoy indoor and outdoor spaces for relaxing, socializing and staying active, and he notes that there’s a garden terrace with lounge seating and outdoor grills. Access to a trail immediately behind the building will bring residents closer to nature at neighboring Arbor Row Stream Valley Park.
More than a dozen different floorplans, ranging from 880 to 4,100 square feet, are offered, with just two to six units per floor. All the condominiums feature floor-to-ceiling windows and balconies or terraces, and many units will have direct-access elevators.
Residents may host overnight guests in a hospitality suite. Monarch also features dedicated storage units, some of which are climate controlled. The building’s parking garage is equipped with Electric Vehicle chargers. More than 6,000 square feet of retail space will welcome patrons and enhance the convenience of life at Monarch.
Fine dining is close by, as is a new Wegman’s grocery and the largest Whole Foods Market in the mid-Atlantic. Live shows are appearing on stage at the new Capital One Performing Arts Center, adding vitality to Tysons. The Tysons Corner Metro station is just a five-minute walk away, and residents are just 20 minutes from both Dulles and Reagan airports.
“This is luxury living in the heart of the Tysons community,” Scharfstein said. “We are satisfying the needs and delivering on the dreams of our residents.”
Prices range from the mid-$600,000’s to $4.1 million, with multiple sales exceeding $3.5 million each. Prospects can tour a fully furnished and equipped model home inside the Monarch sales center at 1650 Tysons Boulevard, adjacent to the Ritz-Carlton Hotel and Tysons Galleria.
Renaissance is offering its buyers protection from rising rates through its partnership with Wells Fargo Home Mortgage’s extended rate lock program, which can save purchasers hundreds of dollars every month. Buyers can lock their interest rates for 5 up to 24 months, depending on the type of loan selected. If interest rates drop, buyers may be qualified for a one-time float down option to a lower rate or a different loan program. Prospects can learn more about these options when they visit the Monarch’s sales center.
The 20-story condominium tower will bring a new level of luxury to the Washington area and will be a distinctive addition to the Tysons’ skyline.
“Our buyers are anticipating a unique and sophisticated living experience that delivers comfort and hospitality, and supports their lifestyles,” Scharfstein said. “The combination of cosmopolitan living with a stress-free environment isa major reason why Monarch is attracting such interest.”
Sales are exclusively managed by The Mayhood Company. The Monarch sales office, complete with its 1,900square-foot model home, is located at 1650 Tysons Boulevard, suite 905. For sales information or to schedule an appointment, email [email protected]; visit www.MonarchTysons.com; or call 703.734.2020.
Renaissance Centro is a dynamic developer of real estate with deep roots in the Washington, DC area. Renaissance Centro has a 35-year legacy of nationally recognized projects and a deep network of regional experts and relationships. From single-family residences to high-end condominiums, rental apartment communities, and mixed-use urban properties, Renaissance Centro elevates the experience of living, working, staying, and playing in the national capital region.