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A press release sent out on Tuesday is trumpeting the sales of two of the buildings in the "Capitol Yards" lineup, 909 New Jersey and the Axiom at 100 I Street, the completion of a pending deal that I first wrote about in January. However, back then, residents in Axiom's sibling, the Jefferson at 70 I, were also notified that their building was under contract, but that deal apparently didn't complete with the other two. The 448-unit Jefferson was the priciest of the three offers, at about $165 million, compared to about $94 million for the 245-unit Axiom and $95 million for the 237-unit 909.
Did the Jefferson's residents go out back with metal detectors and find the $165 million needed to purchase the property themselves? Or are there a few more i's to dot and t's to cross to finish the deal? Or is something else afoot?
In the 100 I and 909 New Jersey sales, the buyers are "institutional investors advised by J.P. Morgan Asset Management."
The three buildings were completed by JPI back in 2008 and 2009, but the recession hit the company hard and eventually two of its executives boltered to partner with folks from Akridge to form the Jefferson Apartment Group. But 70/100/909 apparently remained part of JPI's holdings, as did the empty lot at 23 I Street where JPI's fourth apartment building had been planned, until it was foreclosed upon and picked up by Ruben Companies in late 2009. The three buildings, completed in 2008 and 2009, have been managed by Greystar ever since JPI sold its property management division to the company.
UPDATE: I'm hearing chatter that residents of 70 I did form a tenant association to attempt to buy the building themselves, which then adds some additional time to the deal to allow the residents to find financing to match the initial offer. Anyone from the building want to chime in?
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Alan says: (5/2/12 11:41 AM)
A tenant association was formed at 70 I St with the help/prodding/urging of a law firm (Venable, I believe) and there were near-weekly meetings urging residents to join the association and then...nothing. There was a notice posted about electing officers but that meeting was held at the law firm and it's been silence ever since.

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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   BURGLARY
Burglary Two
 11/26/20
UNIT B/O M ST SE   ROBBERY  11/25/20
1000 B/O NEW JERSEY AVE SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 11/24/20
UNIT B/O I ST SE   ROBBERY
Carjacking
 11/23/20
200 B/O M ST SE   ASSAULT WITH A DANGEROUS WEAPON  11/22/20
UNIT B/O I ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 11/22/20
700 B/O L ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 11/22/20
1000 B/O 3RD ST SE   ROBBERY  11/21/20
1200 B/O 1ST ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 11/19/20
UNIT B/O M ST SE   THEFT FROM AUTO
Theft 2nd Degree (theft From Motor Vehicle)
 11/18/20
1000 B/O HALF ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 11/12/20
1100 B/O 2ND PLACE SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 11/12/20
1000 B/O 8TH ST SE   THEFT
Theft First Degree (theft From Building)
 11/12/20
1000 B/O HALF ST SE   THEFT FROM AUTO
Theft (theft Of Motor Vehicle Parts Or Accessories)
 11/10/20
400 B/O M ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 11/05/20
300 B/O L ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 11/05/20
900 B/O 4TH ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 11/01/20
UNIT B/O I ST SE   THEFT
Theft First Degree (shoplifting)
 10/31/20
900 B/O HALF ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 10/29/20
300 B/O TINGEY ST SE   ROBBERY
Carjacking
 10/29/20
1300 B/O 4TH ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 10/28/20

Recent Issued Building Permits Archive  
1200 1ST ST SE   
11/04/20 
PEPCO / DONNA G GRAHAM
AH2100169 / CONSTRUCTION
WO #16029084 / 02 - 1200 1ST ST SE - PEPCO / WA CHESTER TO REMOVE AND INSTALL CABLES MONDAY THROUGH SATURDAYS FROM 9PM TO 6AM STARTING 11 / 5 / 20 TO 12 / 5 / 20
1018 3RD ST SE   
11/10/20 
DAVID A LEINER / null
E2101357 / SUPPLEMENTAL
1300 4TH ST SE 1001   
11/03/20 
YAAN REAL ESTATE LP / null
P2100950 / SUPPLEMENTAL
1300 4TH ST SE RU-1   
11/19/20 
AP BOWER RETAIL LLC / null
E2101650 / SUPPLEMENTAL
1057 5TH ST SE   
11/05/20 
PAM HARDER / null
E2101183 / SUPPLEMENTAL
82 I ST SE   
11/12/20 
STARRY / null
E2101432 / SUPPLEMENTAL
330 K ST SE   
11/09/20 
MINDY J SHAW / CASEY CHARKHABI; NA
B2008664 / CONSTRUCTION
Adding a bathroom on the first floor
   
11/10/20 
JINGSONG XIA / null
P2101107 / SUPPLEMENTAL
100 M ST SE   
11/12/20 
LHREV WASHINGTON M ST LLC / null
P2101170 / SUPPLEMENTAL
   
11/12/20 
SQUARE 743 INC / ;
P2101121 / SUPPLEMENTAL
139 N ST SE   
11/10/20 
BROOKFIELD DEVELOPMENT / JUSTIN BELLOW; BROOKFIELD DEVELOPMENT
B2004436 / CONSTRUCTION
NEW CONSTRUCTION 10-STORY PLUS PENTHOUSE APARTMENT BUILDING WITH 379 UNITS. PROPOSED GROSS FLOOR AREA: 225,000 SF. SH2000028 issued
1275 NEW JERSEY AVE SE   
11/04/20 
USA / null
E2101168 / SUPPLEMENTAL
   
11/09/20 
BROOKFIELD PROPERTIES / TIM GOOD
BP2100588 / POST CARD
71 POTOMAC AVE SE APT 1208   
11/02/20 
null / NA NA NA
EHOP20957167 / HOME OCCUPATION
71 POTOMAC AVE SE   
11/04/20 
RIVERFRONT HOLDINGS II, LLC / null
M2100380 / SUPPLEMENTAL
   
11/04/20 
RIVERFRONT HOLDINGS II, LLC / null
P2100978 / SUPPLEMENTAL
   
11/09/20 
MRP REALTY / null
E2101319 / SUPPLEMENTAL
227 TINGEY ST SE   
11/18/20 
FC 227 LLC / null
E2101630 / SUPPLEMENTAL
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.


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