Since January, 2003
            
 (a random before-and-after moment)
February 22, 2004
August 5, 2017
1st at I, Looking East-Southeast (see more)

While normal people have spent their weekend recreating and taking it easy, I've been trying to find out more about the just-announced foreclosure sale of 100 M, the 220,000-square-foot office building that has been tied up in Opus East's Chapter 7 liquidation.
My big question was about why this is being billed as a sale of a "60-Year Leasehold Interest," and what I've found out is that Opus never owned the land, but instead had entered into a lease with and paid rent to the landowners. (Who are the people behind "Square 743 Inc"? I'd love for someone to tell me!) When Opus's operations went south, their lender (Bank of America) stopped funding the construction loan, so contractors stopped being paid, liens were filed, bankruptcy case got ugly, etc. etc.; basically, it's been a mess.
BoA is now washing its hands of it all, and is looking to get back some amount of the $58 million currently owed on the construction loan. (The land ownership is not being foreclosed on.) I've heard that BoA contracted with CB Richard Ellis earlier this year to sell the loan, and there's speculation that BoA may have a deal with an investor already, even though the Notice of Foreclosure Sale still lists BoA as the holder of the note. This would be similar to the way JPI's empty lot at 23 I Street changed hands a year ago, with SunTrust Bank selling the note to Ruben Companies, who then instituted foreclosure proceedings and took ownership of the property when no bidders came forward.
However, while the word "foreclosure" usually conjures up feelings of doom and gloom, for 100 M this should be a step up from Opus's liquidation. Instead of continuing to be tied up with companies and lenders and courts who have no interest or wherewithal to spend the money needed to clean up the mess and to market and lease the building's office and retail spaces, there may now be at least one investor--and maybe others, if the foreclosure sale brings bidders--who feels that the building is worth taking a gamble on now for a return on investment later. (Though it's worth noting that there is not a similar feeling of optimism about any new office projects in the area any time soon, with on-spec construction still completely DOA.)
We shall see how it all shakes out.
The auction is scheduled for Oct. 28 at noon, so this building can be yours for a mere $5 million deposit and an all-cash winning bid. It's currently 43 percent leased.
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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  
1100 B/O NEW JERSEY AVE SE   THEFT
Shoplifting
 09/13/19
300 B/O M ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 09/13/19
400 B/O L ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 09/11/19
400 B/O M ST SE   THEFT
Shoplifting
 09/10/19
400 B/O M ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 09/09/19
54 M ST SE   BURGLARY
Burglary Two
 09/07/19
400 B/O M ST SE   THEFT
Theft 2nd Degree (theft From Building)
 09/05/19
400 B/O M ST SE   THEFT
Shoplifting
 08/30/19
1100 B/O NEW JERSEY AVE SE   THEFT
Theft 2nd Degree (theft From Building)
 08/28/19
500 B/O M ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 08/28/19
800 B/O VIRGINIA AVE SE   THEFT FROM AUTO
Theft 2nd Degree (theft From Motor Vehicle)
 08/28/19
400 B/O M ST SE   THEFT
Theft 2nd Degree (theft From Building)
 08/28/19
500 B/O L ST SE   ROBBERY  08/26/19
400 B/O M ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 08/25/19
400 B/O M ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 08/25/19
400 B/O M ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 08/23/19
300 B/O K ST SE   THEFT
Theft 2nd Degree - Felony (all Other Larceny)
 08/23/19
400 B/O M ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 08/22/19
1100 B/O 2ND PLACE SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 08/21/19
300 B/O L ST SE   BURGLARY
Burglary One
 08/21/19
100 B/O M ST SE   THEFT FROM AUTO
Theft 2nd Degree (theft From Motor Vehicle)
 08/20/19
1200 B/O SOUTH CAPITOL ST SE   ROBBERY  08/20/19
150 B/O L ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 08/18/19

Recent Issued Building Permits Archive  
1300 4TH ST SE   
08/20/19 
YAAN REAL ESTATE LP / MITCH A. PERMUY; MITCH A. PERMUY
E1910356 / SUPPLEMENTAL
1346 4TH ST SE   
09/11/19 
FC 1346 HOLDCO I LLC / null
E1911472 / SUPPLEMENTAL
900 5TH ST SE   
08/30/19 
CAPPER CARROLLSBURG VENTURES, LLC / DFM DEVELOPMENT SERVICES, LLC
B1906215 / CONSTRUCTION
Reconstruction of 4-story residential building, the Arthur Capper Senior Center, damaged by fire.
150 I ST SE   
08/20/19 
null
E1910665 / SUPPLEMENTAL
200 I ST SE   
09/04/19 
DISTRICT OF COLUMBIA / ROGER L PEACE
BP1904525 / POST CARD
   
09/04/19 
DISTRICT OF COLUMBIA / ROGER L PEACE
BP1904526 / POST CARD
   
09/04/19 
DISTRICT OF COLUMBIA / ROGER L PEACE
BP1904529 / POST CARD
419 K ST SE   
08/21/19 
FAROOQ A MITHA / null
E1910733 / SUPPLEMENTAL
100 M ST SE 20003   
08/21/19 
PARSONS / null
E1910735 / SUPPLEMENTAL
100 M ST SE 9TH FLOOR   
09/05/19 
SQUARE 743 INC / DAVID FLEMING; DAVID FLEMING
P1909280 / SUPPLEMENTAL
100 M ST SE SUITE 910   
08/22/19 
SQUARE 743 INC / null
E1910764 / SUPPLEMENTAL
100 M ST SE   
09/05/19 
SQUARE 743 INC / FREDERICK S. DONHAM; FREDERICK S. DONHAM
P1909275 / SUPPLEMENTAL
ONE OPEN SITE DRAIN
250 M ST SE   
08/26/19 
null / ;
P1908962 / SUPPLEMENTAL
   
08/27/19 
SQUARE 769 LLC / STEVEN CHEN
AH1901196 / CONSTRUCTION
After hours permit is respectfully requested from 3am to 7am daily.
   
09/04/19 
SQUARE 769 LLC / JEFFREY D WOLF
AH1901226 / CONSTRUCTION
After hours permit respectfully requested from 3 am to 7 am daily.
861 NEW JERSEY AVE SE   
08/26/19 
CSX TRANSPORTATION, INC / ; N/A; TBD
R1900100 / CONSTRUCTION
RAZE 1 STORY WOOD FRAMED STRUCTURE
1275 NEW JERSEY AVE SE   
08/20/19 
UNITED STATES OF AMERICA / JUSTIN BELLOW; JUSTIN BELLOW; TBD
BCIV1900130 / CONSTRUCTION
Civil permit for grading, site demo, and installation of sediment erosion control measures Site utilities, provide property. Stormwater management will be under subsequent permits.
1100 NEW JERSEY AVE SE   
08/22/19 
SQUARE 742 LLC / null
E1910802 / SUPPLEMENTAL
1275 NEW JERSEY AVE SE   
08/23/19 
UNITED STATES OF AMERICA / ROBERT K WILLETT; ROBERT K WILLETT
E1910857 / SUPPLEMENTAL
   
09/03/19 
UNITED STATES OF AMERICA / PARKER HARRELL; PARKER HARRELL
SB1900287 / CONSTRUCTION
We propose to furnish and install fifteen (15) gravel packed wells, fourteen (14) around the perimeter, and one (1) at the elevator pit. We will also be installing 3 monitoring wells and potentially 5 contingency wells. We will only pump from up to 15 wells at a time. All wells will be located in a mutually agreed layout. The wells will be installed by advancing up to a 10.25 I.D. hollow stem auge...
125 O ST SE   
09/13/19 
DISTRICT OF COLUMBIA / FRED T FALCONE; JOSEPH SCRIBELLITO
SB1900423 / CONSTRUCTION
Soil borings to collect samples and installed a grouted in place vibrating wire piezometer approximately 30 feet below grade. Two geotechnical soil borings to 75 feet below grade, and 3 soil borings to 20 feet below grade with 5 feet of coring though buried foundations.
301 TINGEY ST SE C-1   
09/03/19 
SEFC 160, LLC / JEFF NOLD
AH1901221 / CONSTRUCTION
Work will occur on 3rd Street SE between Tingey St SE & Water St SE. We will be assessing and providing a CCTV inspection of a sewer line.
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
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
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South Capitol Street
The Yards
Lower 8th Street
East M Street
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