Greysteel Arranges $3.25M Sale of Historic DC Church Property
Greysteel has completed the sale of a 15,000-square-foot church and parish house located at 1401-1405 15th Street NW in Washington, DC. The property was sold for $3.25 million to MR 1401 15th Street Retail LLC, an entity controlled by Monument Realty.
The seller, Central Atlantic Conference of the United Church of Christ, was exclusively represented by Ian Weisz and Benjamin Wilson of Greysteel. Monument Retail’s Danny Brooker and Rich Sillery represented the buyer.
Situated between Logan Circle and Dupont Circle, the property stands adjacent to the Whole Foods on P Street NW, in one of the most desirable corridors of the city. Monument Realty has announced plans to redevelop the site.
“While conversion to several property types was considered, we continue to see properties like this being attractive to entrepreneurs capable of a more traditional retail execution,” noted Ian Weisz, Director at Greysteel. “For this property, we negotiated among 10 competitive offers interested in developing a wide variety of uses.”
The strategic location and flexibility of the historic site made it a prime candidate for redevelopment, underscoring the ongoing interest in adaptive reuse opportunities in Washington, DC’s urban core.
