RSS FeedCribs XI: The Whole Enchilada
This edition of Cribs is slightly different. OK, it’s very different. Instead of taking a look at what is, we’re taking a look at what could be so you have to put on your design hat and use your imagination…
Ever walked by the Court Square Apartments at 705 4th Street NW? We have and wondered, what’s the scoop? Rental apartments? Halfway house? Shelter? So we did a little digging. The scoop is that it’s a 1926 rental apartment building with 28 studios and 13 1-bedroom apartments and it can be yours for a cool $5 million. Marcus & Millichap, a commercial real estate investment firm, is marketing the property and the listing on LoopNet, a multi-family real estate listing service, has all the details. The owners were going to convert it to condos but the market changed. We’ve heard that one.
The upside…you’d get your own historic building in the fabuloso East End (the listing says Judiciary Square), you can deck it out how you like and it’s only five blocks from a major grocery store. The downside…you get to be ground zero for the annual Police Week party in the spring as the Fraternal Order of Police DC Lodge #1 is at 711 4th Street just about next door.
So if someone approaches you and says they have an apartment building they want to sell you, the whole enchilada, they may just be telling you the truth.
Photo Credit: LoopNet Listing – 705 4th Street NW
Ed. Note: Tom Veil wrote in to let us know about Court Square. He provided this extra insight…
This building is by no means a halfway house. Far from it — it is what a successful affordable-housing community looks like. The tenants, who are almost 100% Hispanic, keep a watchful eye on their block, spending lots of time outside or across the street on the GAO’s terrace. Combined with the Fraternal Order of Police (who are obnoxious one week a year and wonderful neighbors the other 51 weeks), this turns what could otherwise be a scary, abandoned block at night into one of the safest feeling blocks in DC, in my opinion. While the owner of this property can of course do whatever the law lets him, trying to shoehorn this building into a “ritzy, upscale, luxurious” development would be a loss to the neighborhood. A “ritzy” development would almost certainly chop the building’s population in half, and [may] not result in a building with a greater sense of community.
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