Marcus & Millichap successfully closed the sale of 2724 11th Street NW, a notable 26-unit apartment building in Columbia Heights, DC. This transaction marks the end of a decade-long struggle with legal disputes and a Chapter 11 Bankruptcy filing.
Renowned for its architectural design and historical significance, this property holds great value in Columbia Heights’ rich heritage. The new owners have plans to collaborate with local housing organizations and involve the community in its redevelopment.
The intricate transaction was facilitated by Nick Murray, Marty Zupancic, and John Slowinski from Marcus & Millichap. According to Zupancic: “The challenges faced by this apartment building as it transformed from being physically vacant with numerous legal issues into a profitable asset were unprecedented. We are delighted that it has been reborn and can start anew.”
This historic building changing hands is significant news for Columbia Heights’ real estate market.
