Greysteel arranges the $12.5 Million sale of a 38-unit multifamily property in DC

Washington, DC — Greysteel, a national commercial real estate investment services firm arranged the sale of two Washington, DC properties:

• The Waring, a 38-unit multifamily property located at 1433 T St. in the U Street Corridor neighborhood of Northwest Washington, DC.

Greysteel president & CEO Ari Firoozabadi, managing director, W. Kyle Tangney and director, Herbert Schwat, of the company’s Washington, D.C. office represented the seller and solely procured the buyer. The property sold for $12.5 million.

Built in 1909, The Waring is three-story building made up of 38 units, a mix of studio, one bedroom and two bedroom apartments with an average unit size of 573 s/f. The recent, full-scale property renovation improved unit interiors to class A, condo-quality finishes.

“The Waring was a really exciting project where we were able to highlight a wide variety of business executions for potential investors and received a great deal of interest,” said Tangney.

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