Since January, 2003
            
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Documents filed with the Recorder of Deeds within the past few months show that Lehman Brothers has executed the necessary legal and financial maneuvers to take sole ownership of a portion of the infamous hole in the ground on Half Street just north of Nats Park (which I can't believe I didn't until this instant ever think to call Monument Valley).
The site, on the northern part of the hole and just south of 55 M Street, was going to be the hotel portion of Monument Realty's block-long Half Street development.
This is the third time in the past few years that Lehman has taken ownership of property in Monument's once-vast holdings just north of the ballpark. Lehman was one of Monument's investment partners on these properties, in addition to being the lender.
In both of the other cases, the "foreclosure" by Lehman ended up being a precursor to the sale of the property--both at 50 M, bought by investors in May 2013 and now the site of the planned Homewood Suites hotel, and at 1244 South Capitol, bought by JBG in late 2013 and likely to be a residential project. (The company's 55 M Street office building was sold in late 2013 without a Lehman takeback.)
Whether this is another precursor to another sale, we will have to see.
As of now, Monument retains an ownership stake in only two properties in the Ballpark District: the southern half of Monument Valley, where a residential project was planned, and the old Domino's site at One M Street, where back in 2012 Monument had been starting to shepherd an office project through zoning.
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Tom says: (5/29/14 10:32 PM)
Oh, you know its bad when Lehman bros. picks things up.


JD says: (5/29/14 11:06 PM)
I probably should have done a better job of making clear that Lehman was part of the original investment team on these properties, along with Monument and MacFarlane Partners. They didn't just swoop in and pick them up at foreclosure - they were the lender in addition to an investment partner.

Sometimes I just write like everyone knows what I'm taking about. :)


Westnorth says: (5/30/14 3:02 PM)
"Monument Valley" is too clever to give up!


JD says: (5/30/14 3:41 PM)
In other news, there's a new feature on the home page, if you hit a qualifying "before" photo in the random pair in the box at top.


Tom says: (5/31/14 10:33 PM)
Lehman Bros. filed the biggest bankruptcy in U.S. history, with Lehman holding over $600 billion in assets but that's what bankruptcy's for, I s'pose. I'm guessing they've decided to put sub-prime loans behind 'em.

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1000 B/O HALF ST SE   THEFT
Theft First Degree (all Other Larceny)
 10/27/20
300 B/O L ST SE   THEFT FROM AUTO
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 10/23/20
1100 B/O NEW JERSEY AVE SE   THEFT
Theft 2nd Degree (all Other Larceny)
 10/22/20
UNIT B/O M ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 10/21/20
1200 B/O HALF ST SE   ROBBERY  10/21/20
UNIT B/O K ST SE   THEFT
Theft First Degree (all Other Larceny)
 10/20/20
900 B/O NEW JERSEY AVE SE   THEFT
Theft 2nd Degree (all Other Larceny)
 10/15/20
600 B/O L ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 10/13/20
UNIT B/O M ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 10/12/20
1000 B/O 1ST ST SE   THEFT FROM AUTO
Theft (theft From Motor Vehicle)
 10/12/20
1100 B/O NEW JERSEY AVE SE   THEFT
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 10/09/20
1000 B/O 8TH ST SE   ROBBERY
Armed Carjacking
 10/09/20
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Theft 2nd Degree - Felony (theft From Building)
 10/07/20
900 B/O M ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 10/01/20
1000 B/O 3RD ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 09/30/20
UNIT B/O K ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 09/29/20
1100 B/O 2ND PLACE SE   ROBBERY
Assault W/i To Commit Robbery (simple Assault)
 09/28/20

Recent Issued Building Permits Archive  
1108 3RD ST SE   
10/06/20 
JULIANA DUFFY / null
E2100156 / SUPPLEMENTAL
915 5TH ST SE   
10/14/20 
RYAN DANIELS / FERNANDO A ANGULO; RYAN DANIELS
B2012669 / CONSTRUCTION
Partial floor joists replacement on first floor. replace 6 feet height wooden fence and gate. add protective coating to partial foundation wall.
150 I ST SE   
10/09/20 
SQUARE 737 LLC / JASON D DORRIS
AH2100047 / CONSTRUCTION
Construction of a new 13 story apartment building with three below grade parking levels, 1st floor retail and amenity areas; 373 units and 181 parking spaces. To include mechanical, electrical, plumbing, elevators and structural work.
   
10/15/20 
SQUARE 737 LLC / BOB BIROONAK; BOB BIROONAK
SG2000458 / CONSTRUCTION
one directional double face non illuminated sign
139 N ST SE   
10/08/20 
null
SH2000028-EXT-1 / CONSTRUCTION
Original Permit expires 4 / 15 / 2021, 1st extension expires 10 / 15 / 2021
861 NEW JERSEY AVE SE   
10/13/20 
CXS TRANSPORTATION INC / null
P2100338 / SUPPLEMENTAL
125 O ST SE   
10/02/20 
DISTRICT OF COLUMBIA / null
M2100033 / SUPPLEMENTAL
71 POTOMAC AVE SE   
10/15/20 
RIVERFRONT HOLDINGS II, LLC / OLUSOLA PYNE
B2100519 / CONSTRUCTION
Shipping Container placement on lot for exterior use.
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;

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