Since January, 2003
            
 Sliding from Before to After

On Sept. 10 a Notice of Foreclosure Sale was filed for the two now-vacant parcels of land on the southwest corner of Half and I streets where the Wendy's used to stand. (Note that this doesn't include the adjoining Exxon land.) The lots, totalling about 47,000 square feet, were bought in July of 2007 by JPI for $28.6 million, with the intent of building 23 I Street, the fourth of JPI's "Capitol Yards" residential buildings (along with 70/100 I and 909 New Jersey). JPI owes $25.1 million on the loan, which came due on Aug. 1 and which is held by Ruben Companies, owners of 1100 South Capitol Street and 1101 across the street. The foreclosure sale is scheduled for Oct. 13.
JPI East pretty much fell apart over the past two years, with its principals taking what was left and forming a new company in June with bigwigs at Akridge; stories at the time mentioned their continued stake in 70/100/909, but said nothing about 23 I.
Another, smaller commercial foreclosure is happening further east, where nine parcels owned by ICP Partners along Potomac Avenue between Eighth and Ninth (including the brown boarded-up apartment building at Ninth and its parking lot) received a notice of foreclosure on Sept. 4, with a debt of $2.3 million on the properties. ICP tried hard earlier this year to drum up interest in these lots plus the gray building at Eighth and Potomac that houses Quiznos (which is not part of this foreclosure), after a previous sale attempt in 2008 went nowhere. ICP paid $9 million for all 10 properties in 2006; this foreclosure sale is scheduled for Oct. 6. (The properties are also on the city's September Tax Sale list.)
Whether the properties will actually go on the block, or if deals will be struck or lawsuits filed in advance of the sale dates, remains to be seen, but foreclosures are about to be a big part of the commercial real estate landscape throughout the US. (Spend a few days reading Calculated Risk if you want some insights into the predicted onslaught.)
As for the neighborhood's other "distressed" properties, Opus East's 100 M and 1015 Half office buildings are part of the company's liquidation proceedings, with rumors flying but no news of new owners yet. And the empty lot in the 1000 block of Seventh Street (across from the Marines), where a developer had been planning an apartment building, was sold in late July for $400,000 after a foreclosure; it had been purchased along with the two townhouses alongside it for $1.25 million in 2004. One townhouse was subsequently sold, the other was foreclosed on as well, though so far no evidence of a sale has turned up.
Comments (0)
   
 
 More About One Hill South

JDLand.com Home

Comments

No comments posted.

Add a Comment:

Comments are closed for this post.

JDLand Comments RSS Feed


 More News


See All Current News Items | Full Blog Archive

 
 Recent Posts

CJBabyDaddy on Roundup of Some: Looks like the final piece of the final arch of the New Frederick Douglass Memor...
GarfieldPark on Roundup of Some: Wagtime has now turned into Dogtopia? New owners or what?
CJBabyDaddy on Roundup of Some: To my fellow New FDMB arch geeks: As of COB Friday, August 7, nine of the twelv...
CJBabyDaddy on Roundup of Some: La Famosa (1st floor of the Bower) targeting a late August or early September op...
GarfieldPark on Roundup of Some: Target date of Wed Aug 12th for I ST CVS. Can't come soon enough!
JES on Roundup of Some: It looks like punch bowl isn't completely dead, as they're reopening some locati...
Get JDLand Updates In Your Inbox!



City Government Data for Near Southeast Records added or updated recently displayed here; click the "archive" links to see additional detail and older records. All data from DC Government databases and RSS feeds. JDLand takes no responsibility for errors, omissions, etc. (read CapStat disclaimer). Data is retrieved daily.

Recent Crime Incidents Archive  
600 B/O L ST SE   THEFT
Theft 2nd Degree (theft From Building)
 08/10/20
800 B/O POTOMAC AVE SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 08/09/20
1000 B/O L ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 08/04/20
1000 B/O 8TH ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 08/02/20
1100 B/O 2ND PLACE SE   BURGLARY
Burglary Two
 07/31/20
100 B/O I ST SE   THEFT
Theft First Degree (all Other Larceny)
 07/30/20
100 B/O O ST SE   ASSAULT WITH A DANGEROUS WEAPON  07/28/20
400 B/O M ST SE   THEFT
Shoplifting
 07/24/20
100 B/O M ST SE   BURGLARY
Burglary Two
 07/20/20
UNIT B/O N ST SE   ASSAULT WITH A DANGEROUS WEAPON  07/20/20
1200 B/O HALF ST SE   THEFT
Theft 2nd Degree (theft From Building)
 07/13/20

Recent Issued Building Permits Archive  
1300 4TH ST SE 1001   
07/22/20 
LA FAMOSA / null
E2009613 / SUPPLEMENTAL
1300 4TH ST SE 130   
07/24/20 
TOM AN / KIMOY LALLEMENT
A2005055 / CONSTRUCTION
New sail shade awning at exterior private space of La Famosa restaurant (Permit #TL2000028)
1150 5TH ST SE   
07/16/20 
DISTRICT OF COLUMBIA / null
P2007453 / SUPPLEMENTAL
   
07/22/20 
DISTRICT OF COLUMBIA / null
E2009571 / SUPPLEMENTAL
   
08/04/20 
DISTRICT OF COLUMBIA / KEVIN HURLEY
SB2000405 / CONSTRUCTION
We propose to perform 2 soil borings to maximum depths up to 50 feet below grade, or refusal. The borings will be advanced with a geotechnical drill rig, which utilizes 3.25" hollow stem augers. Upon completion, the borings will be backfilled with bentonite slurry, in general accordance with DOEE requirements.
10 I ST SE   
07/27/20 
CAPITOL HILL RACQUET CLUB / ANDREW ARNOLD; NA
SB2000413 / CONSTRUCTION
We propose drilling two (2), six-inch diameter geotechnical test borings (B-7 and B-8) using the hollow stem auger method to evaluate the subsurface conditions. The proposed test boring depths will be 85 feet below the existing ground surface. If a confining unit is encountered, outer casing will be installed which will extend 10 feet into the top of the confining unit or to the top of bedrock. Up...
150 I ST SE   
07/30/20 
SQUARE 737 LLC C/O WC SMITH / RUSSELL COX
B2007765 / CONSTRUCTION
Amendment to B1709058. Decrease number of dwelling units to 373 units. Construction of 2 spas. Electrical, Mechanical, Plumbing changes.
423 L ST SE   
07/24/20 
JOHN P LANG / MARGO RICKS
SOL2001665 / CONSTRUCTION
To install 4.56 kW size of solar panels with a system height of 1.1 feet on roof of building.
250 M ST SE   
07/21/20 
SQUARE 769 LLC / null
E2009527 / SUPPLEMENTAL
   
08/04/20 
SQUARE 769 LLC / BRIAN C STROTT; SQUARE 769 LLC
B1915078 / CONSTRUCTION
Revisions to permit B1813732. Changes to the roof area. Adding mechanical equipment to roof.
300 M ST SE   
07/27/20 
FEDERAL CENTER LP / null
E2009758 / SUPPLEMENTAL
861 NEW JERSEY AVE SE   
07/23/20 
GREYSTAR GP LLC / null
M2003144 / SUPPLEMENTAL
1105 NEW JERSEY AVE SE   
07/23/20 
GALLERY CAPITAL RIVERFRONT PROPERTY LLC / null
E2009620 / SUPPLEMENTAL
1200 NEW JERSEY AVE SE 20590   
08/05/20 
UNITED STATES OF AMERICA / null
E2010040 / SUPPLEMENTAL
1275 NEW JERSEY AVE SE   
08/05/20 
US GOVERNMENT / null
E2010054 / SUPPLEMENTAL
   
08/07/20 
FC FACILITATOR LLC FOREST CITY REALTY TRUST / null
P2007950 / SUPPLEMENTAL
79 POTOMAC AVE SE 505   
07/15/20 
null / NA NA NA
EHOP20993669 / HOME OCCUPATION
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

Real Property Sales Archive  
No commercial transaction records added or modified in the past two weeks.


Project Directory
Completed
Thompson Hotel ('20)
West Half ('19)
Novel South Capitol ('19)
Yards/Guild Apts. ('19)
Capper/The Harlow ('19)
New DC Water HQ ('19)
Yards/Bower Condos ('19)
Virginia Ave. Tunnel ('19)
99 M ('18)
Agora ('18)
1221 Van ('18)
District Winery ('17)
Insignia on M ('17)
F1rst/Residence Inn ('17)
One Hill South ('17)
Homewood Suites ('16)
ORE 82 ('16)
The Bixby ('16)
Dock 79 ('16)
Community Center ('16)
The Brig ('16)
Park Chelsea ('16)
Yards/Arris ('16)
Hampton Inn ('15)
Southeast Blvd. ('15)
11th St. Bridges ('15)
Parc Riverside ('14)
Twelve12/Yards ('14)
Lumber Shed ('13)
Boilermaker Shops ('13)
Camden South Cap. ('13)
Canal Park ('12)
Capitol Quarter ('12)
225 Virginia/200 I ('12)
Foundry Lofts ('12)
1015 Half Street ('10)
Yards Park ('10)
Velocity Condos ('09)
Teague Park ('09)
909 New Jersey Ave. ('09)
55 M ('09)
100 M ('08)
Onyx ('08)
70/100 I ('08)
Nationals Park ('08)
Seniors Bldg Demo ('07)
400 M ('07)
Douglass Bridge Fix ('07)
US DOT HQ ('07)
20 M ('07)
Capper Seniors 1 ('06)
Capitol Hill Tower ('06)
Courtyard/Marriott ('06)
Marine Barracks ('04)


Overviews
Capper/Carrollsburg
Anacostia Riverwalk
New Jersey Avenue
M Street
South Capitol Street
The Yards
Lower 8th Street
East M Street
Boathouse Row





                  © Copyright 2020 JD.