Since January, 2003
            
 Page Through from Before to After

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.
Comments (5)
   
 
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Comments

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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1100 B/O NEW JERSEY AVE SE   BURGLARY
Burglary Two
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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)
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UNIT B/O I ST SE   ROBBERY
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1000 B/O 3RD ST SE   ROBBERY  11/21/20
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UNIT B/O M ST SE   THEFT FROM AUTO
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 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
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 10/29/20
300 B/O TINGEY ST SE   ROBBERY
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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;

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