The Palladian

The Palladian condos • Rockville

3 Properties Found. Page 1 of 1

2 Bedroom 2 Baths Condo.hardwood Floor.the Livi...

Photo of Listing #MDMC684422

$2,650 Active

  • 2 Beds
  • 2 Baths
  • 1,319 ft²

Residential Lease

38 Maryland Ave #431, Rockville, MD

MLS® #MDMC684422

2 Bedroom 2 Baths Condo.hardwood Floor.the Living Room Overlooks Rockville Towne Square. Shopping, Restaurants, Library, Metro, Minutes To 270, And Etc. Convenience And Location!

Impressive 2-level Penthouse Overlooking Rockvi...

Photo of Listing #MDMC670266

$649,990 Active

  • 2 Beds
  • Baths
  • 1,676 ft²

Residential

38 Maryland Ave #ph613, Rockville, MD

MLS® #MDMC670266

Impressive 2-level Penthouse Overlooking Rockville Town Square Park! Enjoy The Best View From Your Personal Balcony Of The Square Including Concerts, Parties, Splash Pad, And The Largest Ice Skating Rink Between Baltimore And Dc In The Colder Months! This H...

The Palladian is a beautiful building built in 2008 and sits at a premier location, right on the main street (Maryland Avenue) of downtown Rockville Town Square. Walk right out the the shops and restaurants...  In the winter there's an outdoor ice skating rink, and in Summer the restaurants have outdoor seating and live music can be enjoyed. The energy is great in Summer, a great place to take a Date! 
Walk to Rockville Metro  

The Palladian is made up of only 1-bedroom and 2-bedroom units.

As of May, 2019 the building did not meet Fannie Mae guidelines.  This affects Conventional Financing.  Buyers wanting to pursue a less-than 20% down payment to purchase a condo here, are unable to do so.  There is a large percentage of units owned by 1 entity (the Developer), and it exceeds what FNMA is willing to accept.  As of May 2019 this entity owned 67 units.  This can change over time, and if the Developer sells more units and lowers his ownership percentage, maybe down the road a conventional loan will be possible.  The FNMA guideline allows no more than 15%, but they can also make an exception if it's close and it can be shown that the Developer has been lowering his stake over the most recent 12 months, by selling some of his units.

In the meantime, this results in Buyers needing to pay all CASH, or, there is a "non-warrantable" loan available for such condo buildings.  This loan will require a minimum of 20% down payment, the interest rate is higher, and it's usually offered through an Adjustable Rate Loan. Before you submit an Offer, contact us to confirm where the Building currently stands with Fannie Mae guidelines.

Resources, helpful links

38 Maryland Avenue
- Community web site
- On site Manager, Val Smallwood 301-294-7477
Move in can be scheduled Mon-Fri 8am-4pm at no additional charge to reserve the Loading Dock.
There is a one-time $200 move-in/move-out fee.  Saturday is possible for a fee of $75/hour with a 2 hour minimum.  Staff must be onsite while move is in progress.
- Zalco Realty is the property management co. 301-495-6600

The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX.Properties listed with brokerage firms other than Re/Max Town Center are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers.The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.All listing information copyright MRIS 2019.

Listing information last updated on November 18th, 2019 at 2:30am EST.