Exchange value of place: McMansions, condominiums, etc.
The house on this lot was rebuilt into two large condominiums. Each is about 3,000 s.f. and priced at $849,000. It's a way to maximize the return for the property owner. I can't say the building is very attractive, but it is one block from the forthcoming Monroe and Market Street development adjacent to the Brookland Metro Station, and is two blocks from the Metro.
It's too bad buildings such as this are oversized for the lot in a manner that degrades the visual qualities of the rest of the block. Use values, including aesthetics, are subsidiary to the exchange value of place (maximizing financial return) in this instance.
Interestingly, a house across the street was rebuilt into a much bigger four square with much of the front lot paved over for parking (I didn't think that was legal in DC).