Financial
New menswear shop now ashore in Rehoboth Beach
Youthful new retail entrepreneur helms his lifelong destiny M.G.T. & Co.
Michael Gabriel Thanner and Gracie inside the newly opened M.G.T. & Co. Mens Toggery Shop in Rehoboth Beach. (Photo courtesy Thanner)
Two summers ago, following a July 4th celebratory evening out at various Rehoboth Beach, Del., eateries and drinkeries, gay entrepreneur Michael Gabriel Thanner found himself a bit sozzled and languishing late-night with a long-time female friend on the stoop in front of 39 Baltimore Avenue, a block from the residential town and resort destination boardwalk.
“I’m going to have this store some day,” the visiting Maryland native declared. The casual comment was emblematic of Thanner’s easygoing manner and light-hearted, engaging disposition, as energetically adventurous as it is engagingly confident.
(Photo courtesy of Thanner)
Early in October, Thanner’s ambitious assertion became an abstemious reality with the opening of M.G.T. & Co. Mens Toggery Shop on the high-profile street.
The prominent commercial spot is anchored by surrounding and nearby retail businesses and restaurant venues. The former residential home and prior commercial storefront is adjacent to local landmarks the Blue Moon restaurant-bar and the CAMP Rehoboth Community Center.
This fall, alongside his one-year-old golden retriever and in-store companion Gracie, Thanner launched his men’s specialty clothing shop on his 27th birthday. The Oct. 10 birthday commencement of the retail enterprise is also symbolized in the easy-to-remember mnemonic time he opens the door each day, at 10:10 a.m. “It also ensures that I’m never late,” Thanner jokes.
(Photo courtesy of Thanner)
The shop is currently open seven days a week until 7 p.m., to both acquaint local residents and off-season visitors with Rehoboth’s newest addition to community enterprise and accommodate holiday shopping.
The free-spirited nature of new-proprietor Thanner is captured in the use of the informal, humorous, and British term “toggery” in the shop’s branding. A more casual expression for “haberdashery,” this off-kilter marquee nomenclature is a fitting reflection of the owner’s personality.
(Photo courtesy of Thanner)
The tagline additionally serves to convey the “British-inspired flavor of the shop’s offerings,” explains Thannery, noting that European labels from France, Germany, the Netherlands, and other international locales are also featured alongside American brands. “I carry lines with which people may not be familiar,” he says, “but I strive to always value quality over quantity” in curating the selection of items that will seasonally evolve.
“I specialize in providing an ‘old school’ foundation with a modern and youthful perspective,” says Thanner, “in a range of sizing and with something for everyone. The shop has a casual and personable environment,” he notes, describing the warm interior and attractive displays featuring a full range of merchandise, including everything from resort wear to blazers, scarves, boots, plush cashmere and more.
“I’m selling a lifestyle, not just an item or two,” asserts Thanner, “quality personal items are the foundation of a gentleman.”
Unique and distinctive labels include American purveyors Mizzen+Main dress shirts, Strong Boalt, Castaway, needlepoint belts and wallets from Smather and Branson, F.H. Wadsworth belts, handmade leather loafers by Jay Butler, Southern Proper, as well as Barbour from the United Kingdom, Hommard cashmere from the Netherlands, Armor Lux of France, Seaward and Stearn ties from the U.K., and New Zealand’s Rodd & Gunn.
Frequent solo travels when young and studying at Aix-en-Provence in the south of France influenced Thanner’s appreciation for European style and “knowing how to dress” as a practical part of one’s life. “You never know whom you’re going to run into, or where you’ll end up,” explains Thanner.
“If you look good, you feel good, and can have either $2 or $2 million in your pocket, no one would ever know.” Thanner credits his supportive parents, who encouraged their only child to travel and explore different cultures, for such insights. Growing up around his mother’s multiple retail shops specializing in gifts, accessories and home furnishings, also served as inspiration.
(Photo courtesy of Thanner)
Whether domestic or international, the shop’s clothing is “not tailored,” notes Thanner, “it’s more traditional but with a twist.” While representing the higher-end of the marketplace, pricing is consumer accessible with a range of price points. Thanner characterizes the shop’s focus as “America’s Ralph Lauren meets London’s Savile Row.”
(Photo courtesy of Thanner)
Hand-produced and bench-made products dominate, the result of a distinctly personal process of acquisition. “I was always well-dressed as a kid, originating with my own inspiration,” explains Thanner. Noted for his distinctive sense of style and attention to detail from a young age “led to requests to assist others with their personal shopping,” he recalls.
It was personal familiarity with noteworthy attire that forged the path for stocking his store. “I simply opened my own closet,” Thanner says, “and began cold-calling companies among the labels in my collection, asking to speak with a wholesale representative.”
“I knew early on that I could never have a standard 9-to-5 job,” Thanner admits, “I simply don’t have the attention span for it. Working for myself has always been in my blood, and I always knew I would have a shop of my own.”
“None of my friends were surprised at all,” says Thanner of his decision to open the shop. “I told several people over dinner one night, and signed a lease two days later. Of course, they think I’m ‘nuts’ for entering storefront retail, but you have to be willing to take risks to achieve success.”
“Opening in retail today is a risk,” acknowledges Thanner, “but you can’t focus on that. You have to jump right in and give it all you’ve got. The market is still there, especially in destination locations like Rehoboth where there is opportunity for specialty commerce.” He credits Murray Archibald, Steve Elkins, and everyone at CAMP Rehoboth for being supportive, and the welcoming attitude from other business owners and local residents.
(Photo courtesy of Thanner)
“I love Rehoboth, the sense of community, the energy, the vibe,” says Thanner, “and the small town charm and progressive environment. It’s a place entering a new era of enterprise, with an influx of new businesses and innovative approaches complementing an existing strong mix of retail.”
Thanner is inviting patrons and the public to an in-store holiday party on Dec. 9 to celebrate the shop’s opening and to “thank the community for their encouragement during the best time of the year to bring people together.”
M.G.T. & Co. Mens Toggery Shop is located in Rehoboth Beach, Del., at 39 Baltimore Ave. The shop is currently open each day of the week from 10:10 a.m. to 7 p.m. For more info, visit M.G.T. & Co. on Facebook and Instagram (the shop’s website is in development).
Mark Lee is a long-time entrepreneur and community business advocate. Follow on Twitter: @MarkLeeDC. Reach him at [email protected].
Did you melt like the Wicked Witch of the West this week?
As summer temperatures rise, keeping your home or apartment cool during a heat wave can become both a comfort issue and a financial challenge. One of the most effective ways to keep a home cool is to prevent heat from entering in the first place. Sunlight streaming through windows can significantly raise indoor temperatures. Consider the following solutions:
• Close blinds or curtains during the hottest parts of the day. Blackout curtains or thermal drapes can reduce heat gain by up to 30%.
• Install reflective window films to block UV rays and reduce solar heat without sacrificing natural light.
• Use outdoor shading solutions such as awnings (yes, the ones you removed because they were “dated”) and shutters to limit direct sunlight.
Fans are a cost-effective way to circulate air and create a wind-chill effect that makes rooms feel cooler.
• Ceiling fans should rotate counterclockwise in the summer to push cool air down.
• Box fans or oscillating fans can be placed near windows to pull in cooler evening air or push hot air out.
• Create a cross-breeze by opening windows on opposite sides of your home and positioning fans to direct airflow through the space.
• For an extra cooling effect, place a bowl of ice or a frozen water bottle in front of a fan to circulate chilled air.
To optimize natural ventilation, open windows early in the morning or late in the evening when outdoor temperatures drop. This allows cooler air to flow in and helps ventilate heat that built up during the day.
Appliances and electronics generate a surprising amount of heat. To reduce indoor temperatures:
• Avoid using the oven or stove during the day; opt for no-cook meals, microwave cooking, or grilling outside.
• Run heat-producing appliances like dishwashers and clothes dryers in the early morning or late evening.
• Unplug electronics when not in use, as even standby power can add heat to your space.
• Switching to energy-efficient LED lightbulbs can also reduce ambient heat compared to incandescent lighting.
If you do use an air conditioner, maximize its effectiveness by:
• Setting it to a reasonable temperature—around 76–78°F when you’re home and higher when you’re away.
• Cleaning or replacing filters regularly to maintain airflow and efficiency.
• Sealing gaps around doors and windows to prevent cool air from escaping. (Didn’t we all have a parent who said, “Close the door. You’re letting all the cool out?”)
• Using a programmable thermostat to optimize cooling schedules and reduce energy use.
If it is not cost-prohibitive, adding insulation in attics and walls can greatly reduce heat transfer. Solar panels that reflect heat can also help, as well as offset the cost of their installation. Adding weatherstripping around doors and windows, sealing cracks, and using door sweeps can make a significant difference in keeping heat out and cool air in.
Natural and eco-conscious methods can also help cool your home.
• Snake plants, ferns, or rubber trees can improve air quality and slightly cool the air through transpiration.
• White or reflective roof paint can reduce roof temperatures significantly.
• Cooling mats or bedding can make sleeping more comfortable without cranking up the A/C.
For renters or those who can’t make permanent modifications, there are still plenty of ways to keep cool.
• Use portable fans and A/C units instead of built-in systems, making sure they are the correct size for your space.
• Removable window film or static cling tinting can reflect heat without violating your lease.
• Install tension rod curtains or temporary blackout panels instead of hardware-mounted window coverings.
• Add draft blockers and weatherstripping tape that can be applied and removed without damage.
• Cover floors with light-colored rugs to reflect heat rather than absorb it.
• If allowed, use temporary adhesive hooks to hang reflective materials or light-filtering fabrics over windows.
Even if your space is warm, you can still take steps to help your body stay cool.
• Wear light, breathable fabrics like cotton or linen.
• Stay hydrated and avoid caffeine or alcohol during peak heat hours.
• Take cool showers or use damp cloths on your neck and wrists to bring your body temperature down.
Keeping your home or apartment cool in the summer doesn’t have to be expensive or energy-intensive. With a few adjustments such as blocking sunlight, optimizing airflow, using fans effectively, and making renter-friendly upgrades, you can create a more comfortable indoor environment while keeping energy bills in check.
Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her at DCHomeQuest.com, or follow her on Facebook at TheRealst8ofAffairs.
Real Estate
The world’s on fire and D.C. is on sale (sort of)
Prices are up, but then again, nothing makes sense anymore
ICE is disappearing people, revered government agencies are shuttering, and who knows if we’ll be in World War III next week? But can you believe prices in D.C. are actually still up 6.3% since last year? It doesn’t make sense, and perhaps that does make sense, because nothing seems to make any sense any more.
That said, there are some parts of our market that are truly suffering. The interest rates, which have been up, up, up for about four years now, are the ongoing rain on our market’s military parade. Combine that with 75,000 federal employees taking a buyout nationwide, and DOGE cuts eliminating around 40,000 federal jobs in the District (per estimates by the D.C. CFO), not to mention thousands of other job losses in non-governmental organizations due to funding and program cuts, and you’ve got a case of uncertainty, and downright unaffordability in the pool of otherwise would-be buyers.
This has had a marked impact on properties that starter-home buyers and low- to mid-level employees would otherwise buy, most notably condominium and cooperative apartment units. These properties have already slowed in our market thanks to the profound impact that higher interest rates have had on their monthly carrying costs—pair that with job insecurity, and a lot of condos are proving to be very difficult to sell indeed.
So how is the average sale price up in our market?
The increase is almost entirely due to the resounding strength of the single-family home market, especially in upper Northwest D.C., where it is still quite common to see bidding wars, even on properties pushing past the $3M mark. It seems that buyers in that echelon are less impacted by a few percentage points in the interest rate, and less concerned about their job security. Notably, those buyers are often married with children and have an absolute need for more space, must stay in the area due to one spouse’s job, or the kid’s friend group, regardless of whether the cost of owning is thousands of dollars more per month than it would have been in 2020 or 2021. The continued appreciation in these neighborhoods defies imagination.
So, what to do if you are not one of those lucky enough to be shopping for a $3M home? The short answer: wait. If you want more space, rent your current place out and learn the joys of being a landlord while someone else pays your mortgage. Need the equity from your current home to buy your next place? Get a home equity line of credit, or loan, and pull the equity out of your current place to buy the next one. Or—and I have never recommended this before in 21 years of being a Realtor—rent for a few years. Sure, I’d love to list and sell your condo so you can climb the real estate ladder, but it might just be a waste of time, money or both if you could just ride out this storm and sell in a DOGE-less future.
All this said, there are some condos that seem to be immune from this recent negative news. Anecdotally, it feels like it’s the truly special ones that do just fine no matter the market. Our recent listing in Capitol Hill had a view from every one of its 15 windows of the Supreme Court. Sold in five days with six offers. Another condo was on the top two floors of a townhouse and had the coolest black wood floors that gleamed like a grand piano. Sold in four days at full price.
So, all is not for naught if you have a condo or home in an area that people want to be in, with nice space, light, amenities and a certain je ne sais quois. And, as long as we have a democracy in a few years, my experience says our market will be back, stronger than ever, really soon.
David Bediz is a Realtor and mortgage loan broker for the Bediz Group LLC and Home Starts Here, LLC. Reach him at [email protected].
Real Estate
No Rose, your interest rate has nothing to do with how many likes you got on Hinge
Many factors help determine rates these days
Picture it, you’re sitting in the lunchroom at work, and your coworker just bought a house. Another coworker bought one a few months ago and you hear that she got a totally different interest rate than the other one did, even though they both bought houses not that far from each other. Homebuyers everywhere have been wondering what interest rates they are going to get, lately. It’s easy to read an article online or see an ad on social media stating specific numbers, but there may be more than meets the eye going into a particular buyer’s interest rate.
What are the factors that can affect the interest rate a buyer eventually “locks in”?
- Property details – certain properties may be in neighborhoods with higher rates of foreclosure, or there may be specific census tracts that allow a buyer to participate in the “Fannie Mae Home Ready” and “Freddie Mac Home Possible” programs, which carry more flexible requirements such as various income limits and lower interest rates, to help people begin homeownership.
- Type of loan / loan amount– a conventional, conforming loan or a jumbo loan can have differing interest rates, as well as FHA loans.
- Credit score – most people are aware that this affects what interest rate is quoted, just like on a credit card. Some lenders will work with you on ways to improve a credit score if the goal is to buy six, nine, or 12 months from now.
- Lock period – do you want to lock in the rate for 30 days? 45? Market volatility can cause the rates to change so it will cost more money to hold onto a particular interest rate.
- Loan to value ratio – one can still buy a home with less than 20% down, but the rate that is quoted may be higher.
- Occupancy type – is this the primary residence or an investment property?
- Points bought or credits taken – A buyer can pay the lender a fee to buy down the interest rate, or the seller can sometimes offer a credit. This has become more popular in recent years.
- Market conditions – keep an eye on the news – as we are all aware, change is the only constant!
Lender Tina del Casale with Atlantic Union Bank says, “With jumbo fixed rates in the low 6’s, and first-time buyer down payment assistance loans such as DC Open Doors, rates are in the mid 7’s. With the added factors of your income, the address you are purchasing and your credit score factoring into the equation, interest rates are different from buyer to buyer these days. So, skip the online tools and make a few calls because that’s the only way to get an accurate quote these days!”
It might feel like an overwhelming amount of information to take on, but remember, there are people that help others take these big steps every day. A trusted lender and Realtor can guide their clients from start to finish when it comes to purchasing a home. And for that, you’ll be saying, “thank you for being a friend!”
Joseph Hudson is a referral agent with Metro Referrals. Reach him at 703-587-0597 or [email protected].
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