Dennis Cravedi and Christian Barreiro of Horvath & Tremblay have closed the sale of a vacant, fully renovated nine-unit multifamily property located in the heart of the Dupont Circle neighborhood in Washington, D.C.
The property sold for $3.1 million, equating to $344,444 per unit and $547 per square foot, with Horvath & Tremblay exclusively representing the seller and directly procuring the buyer, a well-established local nonprofit organization.
Located at 1833 Swann Street NW, the property is situated just steps from Dupont Circle, the U Street Corridor, and the vibrant 14th Street Corridor. The building comprises 5,671 gross square feet and features a mix of one one-bedroom and eight two-bedroom units.
“It’s always rewarding to receive a client’s trust to come back to us to sell an asset again, and we were pleased to be able to watch a value-add property transform into a turnkey asset to ultimately further the mission of a highly regarded non-profit,” said Barreiro.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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