An affiliate of Jetset Hospitality has acquired Watergate 600, a 12-story office tower located at 600 New Hampshire Ave. N.W. in Washington, D.C. The transaction involves a 316,000-square-foot office property within the broader Watergate complex, a long-established business address in the city. The building was purchased for $52.5 million, with the deal structured as an investment sale of the existing office asset.
Stream Realty Partners advised on the transaction and arranged the sale, representing the new ownership in the acquisition process. The advisory team from Stream was led by Managing Directors Matt Pacinelli and Charlie Smiroldo, along with Associate Lukas Stanat. On the sell side, JLL served as representative for the undisclosed seller, providing brokerage services for the disposition of the property.
Following the acquisition, Stream Realty Partners will continue its involvement with Watergate 600 by overseeing both leasing and property management responsibilities on behalf of the new ownership. This continuity positions Stream as a key operating partner for the asset, maintaining its role across multiple service lines at the property.
The leasing platform at Watergate 600 is being led by Pacinelli, working alongside Senior Vice President Tim McCarty, Executive Vice President John Klinke, and Vice President Josh McDonald. The team is marketing the building as an opportunity to secure a premier, contiguous block of office space in one of Washington’s most established office submarkets, aiming to attract tenants seeking a sizable, high-quality footprint in a single location.
Recent capital improvements at Watergate 600 have focused on modernizing both common areas and tenant-serving amenities. Upgrades include an enhanced building lobby and entrance, as well as the addition of a rooftop terrace designed to provide outdoor space for tenants. The property also features conferencing and event facilities intended to support meetings and gatherings, along with a modern fitness center that adds wellness-focused amenities for building occupants.
Beyond these specific enhancements, the building has undergone broader, comprehensive upgrades, signaling a coordinated effort to reposition or reinforce Watergate 600’s competitiveness within the local office market. The combination of a sizable contiguous block of space, amenity improvements, and established location forms the core of the property’s current leasing and asset-management strategy under the new ownership and Stream Realty Partners’ continued oversight.
