Marcus & Millichap Brokers Sale of Park MacArthur MF Property in Northwest DC
Marcus & Millichap announced the sale of Park MacArthur, a 17-unit multifamily property in Northwest Washington, D.C. The asset sold for $4.3 million.
“Park MacArthur stood out in the market as a high-quality asset, professionally maintained by a well-respected seller and ideally located in the Palisades, just minutes from Georgetown,” said John Slowinski, associate director of investments in Marcus & Millichap’s Washington, D.C. office. “The quality of both the property and the location was evident throughout our marketing process and ultimately resonated with the buyer, who recognized the long-term stability in the deal as well as opportunities to create additional value in the future.”
Slowinski, Ryan Murray and Marty Zupancic of Marcus & Millichap exclusively marketed the property on behalf of the seller, Ernst Equities. The three-story property totals 13,360 square feet on a 10,019-square-foot lot. It was built in 1939 and renovated in 2015. Located at 4564 MacArthur Blvd. NW, the property is less than one mile from Georgetown University.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout