D.C. Office Building Sold with Plans for Conversion to Housing

Washington D.C. image by Vlad Tchompalov via Unsplash

06 August 2024 | Washington D.C., United States

Sale of a 190,385-square-foot (17,687 square meter) Class B office building at 1201 Connecticut Avenue NW, located in Washington, D.C.’s Dupont Circle neighborhood recently occured with the intention for the building to be converted into a multifamily community. The Lescaze-designed original building has a tremendous amount of character and is meaningful to Dupont Circle and the surrounding communities.

The property is situated at the intersection of Connecticut Avenue, Rhode Island Avenue, and M Street, providing excellent public transit access. It is within walking distance of the Dupont Circle, Farragut North, and Farragut West Metro stations, which connect to the red, blue, orange, and silver lines of the DC Metrorail system.Dupont Circle is a vibrant area with over 22,000 residents, 150 restaurants, 80 shops, and 70 embassies. The neighborhood is surrounded by popular residential areas such as Adams Morgan, the 14th Street Corridor, Logan Circle, and Shaw.

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Marc Dubick, President of Duball, LLC, who purchased the property, highlighted the company's commitment to supporting Washington, D.C.'s goal of increasing housing opportunities through an office-to-residential conversion.

JLL Capital Markets completed the US $21.5 million sale and the seller, a subsidiary of BrightSpire Capital, Inc., was represented by JLL in the transaction, with the buyer being an affiliate of Duball, LLC.

Learn More about this project at Yield Pro