Watergate South Co-op at 700 New Hampshire Ave NW: What the Last 12 Months of Sales Tell Buyers and Sellers

Every few months someone asks me, "Is the Watergate a good buy?" My honest answer is that it depends on which Watergate you mean, how you plan to pay for it, and whether you understand what you are actually buying. At Watergate South, you are not buying real estate in the usual sense. You are buying shares in a cooperative corporation, and that changes the financing, the approval process, the monthly costs, and the resale market.

I pulled every MLS record at 700 New Hampshire Ave NW from the past year and went through it unit by unit. What I found is a building with real lifestyle appeal, a cash-heavy buyer pool, and a wide gap between what sellers are asking and what buyers are paying. Here is what the numbers say, and what I would do with them if I were buying or selling here.

Watergate South Market Snapshot (November 2025 to October 2026)

These figures come from my own Bright MLS pull of every listing at 700 New Hampshire Ave NW, current as of November 5, 2026.

Closed Sales by Unit, Newest First

Two patterns jump out. First, this is really two markets in one building: one-bedroom and standard two-bedroom units trading between roughly $400,000 and $820,000, and combined or penthouse-scale residences trading between $1.35 million and $3.25 million. Second, the only financed purchase in the past year was a $3.1 million combined unit. Everything else was cash.

What Is Watergate South?

Watergate South is one of three residential cooperative buildings in the Watergate complex, the curving riverfront development designed by Italian architect Luigi Moretti along the Potomac in Foggy Bottom. The complex also includes Watergate East, Watergate West, the Watergate Hotel and two office buildings, and it was added to the National Register of Historic Places in 2005.

A few facts buyers ask me about most:

• Address: 700 New Hampshire Ave NW, Washington, DC 20037
• Size: 260 residences, the largest building in the complex
• Age: The building opened in June 1968. Most MLS records list 1971 as the build year, so don't be thrown if you see both.
• Ownership type: Cooperative, not condominium
• Location: Next door to the Kennedy Center, about 0.4 miles from the Foggy Bottom-GWU Metro station, and a short walk to Georgetown
• Amenities noted in recent listings: 24-hour front desk, outdoor saltwater pool, fitness center, roof terrace, community room, pet spa, garage parking and on-site shops and restaurants

Unit layouts range from compact one-bedrooms around 830 to 940 square feet up to combined residences of nearly 3,900 square feet. Several units are two-level townhouse-style homes with private patios.

If you are comparing Foggy Bottom with nearby neighborhoods, my Georgetown DC real estate guide and Dupont Circle DC real estate guide are good next reads, along with my overview of Washington DC real estate.

Co-op vs. Condo: What You Are Actually Buying

When you buy at Watergate South, you buy shares in the cooperative corporation that owns the building, plus a proprietary lease for your specific unit. You do not receive a deed to the unit the way a condo buyer does. That one difference drives almost everything else:

• Board approval. The co-op board reviews and approves every buyer. Expect a financial package, references and an interview. Your contract should allow time for this.
• Monthly fees cover more. The co-op fee here typically includes the building's real estate taxes, many utilities, cable and internet, insurance on the structure, staff and amenities. That is why the MLS shows $0 in annual taxes on these units. Most units run from about $1,500 to over $4,000 a month depending on size, and combined residences can exceed $7,000. Compare total monthly cost, not just the fee, against a condo with a separate tax bill.
• Rental limits. Public records of the building describe a waiting period before an owner can rent and a cap on lease length. If you are buying as an investment or might need to rent later, read the current rules before you write an offer.
• The land. Published histories of the complex report that the building sits on leased land, with the lease running to 2070. Ask for the current ground lease terms and how the board plans for them. This matters more for long-term value than most buyers realize.

How Buyers Pay for a Watergate South Co-op

12 of the 13 buyers in the past year paid cash. That is the most important number in this post, because it tells you who you are competing with as a buyer and who you are selling to as a seller.

Co-op purchases are financed with a share loan, not a traditional mortgage on real property, and only a limited number of lenders offer them. Most government-backed programs are not built for co-op shares, so buyers planning to use FHA or VA financing should talk to a lender before touring. Many co-op boards also set their own minimum down payment, which can be stricter than any lender's.

What this means for you:

• Buyers with financing: Get a co-op-experienced lender lined up first and confirm the building's down payment requirement. A clean, well-documented financed offer can still win, especially on units that have been sitting.
• Cash buyers: You have leverage. Most active listings have been on the market more than 90 days.
• Sellers: Your realistic buyer pool is cash buyers and well-qualified financed buyers. Price for them, not for the widest possible audience.

If you are moving to DC from out of the area, my Washington DC relocation guide and buyer services page walk through how I help relocating buyers, including previewing homes and virtual tours before you arrive. For the larger combined residences, see my luxury buyer services.

For Sellers: Price It Right in Week One or Wait Five Months

The sales data splits cleanly into two groups.

• Priced near the market at launch: Units 712, 510, 118 and 708/709 sold in 43 days or less, at 95% to 104% of their original asking price.
• Priced high at launch: Units 508, 1109, 614, 519, 421 and 609 took between 102 and 178 days and sold for 80% to 91% of their original asking price.

Unit 510 tells the whole story. It sat for 133 days and expired, then came back on the market and sold at its full $720,000 asking price in 15 days. Same unit, same building, new launch. The second time it reached buyers who were ready.

Right now, active listings are asking a median of about $724 per square foot. Recent buyers paid a median of about $546. Sellers pricing off other active listings instead of closed sales are setting themselves up for the long-market, big-reduction outcome.

If you own at Watergate South and want to know what your unit would realistically sell for, request a home value analysis. If your listing already expired, my guide to expired listings in DC, Maryland and Virginia explains how I relaunch homes. Owners of the larger residences can see my luxury seller services.

What I Would Do as a Buyer at Watergate South Right Now

1. Anchor to closed sales, not asking prices. Use the closed $/sq ft by unit size and floor as your starting point.
2. Target listings past 90 days. Nine of the 12 active listings are there. Those sellers are more open to a conversation.
3. Ask for the co-op documents early. Financial statements, budget, reserve study, minutes, house rules, rental and pet policies, and ground lease terms.
4. Build board approval into your timeline. Plan for the board package and interview in your contract dates.
5. Compare the true monthly cost. The co-op fee includes taxes and many utilities, so compare it against condo fee plus property tax plus utilities elsewhere.
6. Search by address, not building name. MLS records tag this building as Foggy Bottom, Watergate, or nothing at all. Searching "700 New Hampshire Ave NW" catches every listing.

Who Watergate South Fits Best

In my experience, this building works especially well for:

• Downsizers and 55+ buyers who want single-level living, a front desk, and walkable restaurants and culture without maintaining a house. My 55+ real estate guide covers the bigger downsizing decision.
• Military officers and Pentagon-area professionals who want a short commute across the Potomac. See my relocation pages for the Pentagon, Fort McNair and Joint Base Myer-Henderson Hall, plus my military relocation services. Check the co-op's rental rules before buying if you expect to PCS out and rent the unit.
• Second-home and pied-a-terre buyers who want a lock-and-leave DC address next to the Kennedy Center.
• Families settling an estate. Co-op sales add a board approval step for the buyer, so estates need a realistic timeline. My guide to selling an inherited house explains how I handle estate sales.

Still deciding between DC and the suburbs? Read my cost of living comparison of Northwest DC, Northern Virginia and Montgomery County and my list of DMV alternatives to living in Georgetown.

Watergate South FAQ

What is the address of Watergate South?

Watergate South is at 700 New Hampshire Ave NW, Washington, DC 20037, in the Foggy Bottom neighborhood next to the Kennedy Center.

Is Watergate South a condo or a co-op?

Watergate South is a cooperative. Buyers purchase shares in the co-op corporation and receive a proprietary lease for their unit, and every buyer must be approved by the co-op board.

How much do Watergate South co-ops sell for?

Between November 2025 and October 2026, 13 units sold for $405,000 to $3,250,000, with a median of $730,000 and a median of about $546 per square foot, based on Bright MLS data.

Can you get a mortgage on a Watergate South co-op?

Yes, but options are limited. Co-op purchases use share loans from a smaller group of lenders, and the board may set its own down payment minimum. In the past year, 12 of 13 buyers paid cash.

Do Watergate South co-op fees include property taxes?

The co-op fee typically includes the building's real estate taxes along with many utilities, cable and internet, staff and amenities, which is why MLS records show $0 in annual taxes. Most fees range from about $1,500 to over $4,000 a month depending on unit size, and combined residences can exceed $7,000. Confirm current fees and inclusions with the co-op before you buy.

How long does it take to sell a unit at Watergate South?

Units priced near closed-sale values sold in 43 days or less in the past year, while units that launched above market took 102 to 178 days and sold for 80% to 91% of their original price. If you own at Watergate South and want a pricing plan built on these closed sales, call Kelly Jackson at 240.385.9905.

About the Author

Kelly Jackson is the founder of KJAX Group at Samson Properties and has been a licensed real estate agent since 2002, now licensed in DC, Maryland and Virginia. With 24+ years in real estate, 1,700+ homes closed, a DC Metro Real Producers Top 2% ranking and more than 200 five-star reviews, Kelly is a former nurse administrator who brings a trusted-advisor approach to co-op, condo, luxury, military and 55+ moves across the DMV. Reach Kelly at 240.385.9905, kellysellsdmv@gmail.com, or schedule a consultation.