Marcus & Millichap has brokered the sale of a 14-unit multifamily property at 920 Madison Street NW in the Brightwood Park neighborhood of Washington, D.C., for $1.68 million.
“This was a challenging deal with many twists and turns, but our experience with distressed assets and the Brightwood and Upper Northwest neighborhoods helped us guide the transaction to a successful close,” said John Slowinski, associate director investments. Slowinski, Marty Zupancic and Ryan Murray of the Zupancic Group of Marcus & Millichap represented the seller, 76 M, Inc. The property was sold through a Chapter 11 bankruptcy process that was subject to U.S. Bankruptcy Court approval.
Built in 1957, the three-story, 11,466-square-foot building includes two one-bedroom and 12 two-bedroom apartments. The property is located just off Georgia Avenue and within one mile of the Parks at Walter Reed, a $1 billion mixed-use redevelopment that is delivering more than 2,200 new housing units, retail, office space and dining to the area.
The Massachusetts Bay Transportation Authority (MBTA) has issued a request for qualifications from would-be redevelopers of its downtown Lynn, MA commuter parking garage. It’s the first of a two-step process, to be followed by a request for proposals. The five-story garage opened in 1992 and has been partially closed since 2022 over safety concerns, ItemLive...
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Suncrest Apartments, a 45-unit multifamily community located at 1800 Evergreen Street in Walla Walla, Washington, has sold for $4.3 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team in Seattle represented the seller, Art Griff, in the transaction. The buyer was Jason Zook. Situated on 1.72 acres, Suncrest Apartments consists...
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Brightshore Capital LP, formerly GTIS Partners, has acquired DŌMI, a newly constructed, 190-unit luxury multifamily property located at 29-24 40th Ave. in Long Island City, for slightly more than $143 million. The acquisition through Brightshore’s Opportunity Zone Fund II was financed with a $98.5-million loan from Affinius Capital. The seller was a joint venture of...
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