Greysteel arranges the sale of 80,000 s/f Gba development project in Washington, DC
Washington, DC —Greysteel, a national commercial real estate investment services firm, represented Seller and solely procured the buyer in this transaction.
The transaction was led by Greysteel sr. managing director, Kyle Tangney, senior director, Ben Wilson, director, Herb Schwat and senior associate, Ian Weisz of the firm’s Washington, DC office.
The development side offers a permitted total buildable square footage of approximately 80,000 s/f situated at 5702-5712 Georgia Ave., NW, Washington, DC. The neighborhood is located in Ward 4 of Northwest Washington, DC and is situated in the path of progress along the northern section of the Petworth submarket, which has broken the $4 psf threshold in newly constructed four and five-star apartments.
"As one of the last, scalable development sites on Georgia Ave, the site attracted plenty of investor attention," said Greysteel Tangney. "We congratulate our clients on the sale and the buyer on the purchase and look forward to the forthcoming development project."