Marcus & Millichap has successfully brokered the sale of a 14-unit multifamily property located at 920 Madison Street NW in the Brightwood Park neighborhood of Washington, D.C. The property sold for $1.68 million and the transaction was completed through a Chapter 11 bankruptcy process, subject to approval by the U.S. Bankruptcy Court.
“This was a challenging deal with many twists and turns, but our experience with distressed assets and the Brightwood and Upper Northwest neighborhoods helped us guide the transaction to a successful close,” said John Slowinski, Associate Director of Investments. Slowinski, along with Marty Zupancic and Ryan Murray of the Zupancic Group at Marcus & Millichap, represented the seller, 76 M, Inc.
Built in 1957, the three-story building spans 11,466 square feet and comprises two one-bedroom units and twelve two-bedroom units. The property sits just off Georgia Avenue and is located within one mile of The Parks at Walter Reed, a $1 billion mixed-use redevelopment project that is delivering more than 2,200 new housing units along with retail, office space, and dining options to the area.
