Marcus & Millichap arranges $2.15M sale of multifamily property in DC

WASHINGTON, DC — Marcus & Millichap announced the sale of 1915 Benning Rd. NE, a nine-unit multifamily property in the Kingman Park neighborhood of Washington, DC, for $2.15 million

“Our team ran an aggressive marketing process to create a competitive bidding environment which ultimately resulted in multiple bids and a successful sales process,” said John Slowinski, associate.

John Slowinski, Andrew Pacious, Ryan Murray and Marty Zupancic investment specialists in Marcus & Millichap’s Washington DC office, had the listing to market the property on behalf of the sellers, Srinivas Chivali and Kranthi Dudam, and procured the buyer, John Solomond .

Completed in 2023, 1915 Benning Road NE offers nine luxury condominium units, including one one-bedroom and eight two-bedroom layouts, totaling 8,240 s/f. The property is located near Union Market, the H Street Corridor and the RFK Stadium redevelopment in one of Northeast DC’s fastest-growing neighborhoods.

“The deal presented a unique opportunity to purchase a new-build asset below replacement cost and less than a mile from the future RFK Stadium site. It was necessary to focus on this narrative to shed the best light on the property regardless of its distressed status. This is one of many examples of our team’s unique ability to create results in the distressed asset sector of the market.”