The Georgetown Metropolitan

Photo by Rust Bucket.

Good morning Georgetown, here’s the latest:

• GU student sues Georgetown rabbi for voyeurism.
• Increase in police presence in Georgetown?

1300 block of Wisconsin Ave.

Airbnb, the controversial service that lets homeowners temporarily rent out a room or a whole house, has been in Georgetown for at least a year. But recently a new type of Airbnb listing is starting to multiply in the neighborhood: recently sold homes.

Specifically, among the dozen or so Airbnb listings in Georgetown, GM found four that were recently sold (i.e. within the last two years). The service advertises itself as a way for homeowners to “rent out some extra space effortlessly“. But these listings strongly suggest that in Georgetown, at least, it’s becoming a way for real estate managers to rent out investment properties.

And numbers make sense. One house was bought in 2013 for about $1.3 million. It rents out on Airbnb at over $6,000 a week. In the spring and summer, it charges $1,000 a weekend night. A similar house rented on a long term basis would attract no more than about $7,000 a month (for what it’s worth, Zillow estimates only a $5,800/month rent). Airbnb obviously has more risks since the property could remain empty most of the time, but it has significantly more upside. Continue reading →

Photo by Nick Dawson.

Good morning Georgetown, here’s the latest:

• Peeping rabbi now fired rabbi.
• BID CEO Joe Sternlieb makes strong case for fast crosstown streetcar.

Montrose Park

Photo by Kaysg.

Good morning Georgetown, here’s the latest:

• Gondolas take a small step forward.
• Streets blocked for protest over Michael Brown killing.

Have a great and safe Thanksgiving everybody!

Georgetown Waterfront

This week on Now and a Long Time Ago, GM visits the corn of O and Wisconsin. He’s merged the present day shot with a shot of the northwest corner from 1893.

You can see a horse-drawn street car from the Metropolitan Railroad (there’s something about that name that GM likes!) The company was founded in 1864, first operating a line from the Capitol to 14th and I St. All its cars were horse-drawn at first.

It didn’t build a streetcar line into Georgetown until the 1870s. This is the company that first laid the tracks down O and P St. (The tracks you see today are not from this period. They were installed as part of the electrification in the 1890s). Continue reading →