Marcus & Millichap has successfully arranged the foreclosure sale of 1225 Clifton Street NW, a 19-unit apartment property located in Washington, D.C.’s Columbia Heights neighborhood. The asset sold for $4.35 million to a local multifamily investor active in the D.C submarket at an auction held on behalf of lender Invictus Capital Partners by Marty Zupancic, Dennis Cravedi, Eric Jentoft-Herr, Joseph Tabb and Nick Murray from Marcus & Millichap’s Washington office.
The property is situated within a high-barrier-to entry submarket with few multifamily properties having traded over the past five years; however through innovative solutions and leveraging their expertise in distressed asset sector sales markets Marcus & Millichap were able to produce results that met their client’s requirements during this challenging time for real estate investments . Zupancic commented “Our team developed and executed an innovative customized solution that leveraged our strengths which enabled us to meet our client’s needs.”
