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Residents at three of the neighborhood's "new" apartment buildings--the Jefferson and Axiom at 70 and 100 I Street, and the 909 New Jersey Avenue building, branded together as "Capitol Yards"--are reporting the posting today of public notices, along with e-mails from management, announcing that the buildings are under contract to be sold.
That paperwork says that the price of 100 I for any tenant organization that may form to purchase the 246-unit building would be $93,879,000; readers report that the number for 70 I (448 units) is about $165 million, and 909's price (237 units) is around $95 million, which presumably are all somewhere in the neighborhood of the contract sales prices.|
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909 New Jersey, Alcohol/Liquor Licenses, cornercopia, Harry's Reserve, jpi, Little Red Bldg/Lot 38 Espresso, Retail
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Some potential retail news might have just come onto the radar screen: on the agenda for ANC 6D's next ABC Committee meeting is a proposed Class A license at 909 New Jersey Avenue for an entity called "Harry's SW & SE". They are proposing apparently to sell beer, wine, bread, milk, cheese, and sandwiches (and no "singles"), which is in line with a Class A/liquor store license. If anyone who lives at 909 has heard any rumors, or if anyone else has some scoop, drop me a line. I'm trying to find out more, and will update as I can. (Though the last time I started asking questions about a license application when one appeared on the ABC agenda was a few months ago for 55 M, and it disappeared from the lineup almost as soon as I hit "send." So be forewarned.)|
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| Property | Original 2010 | Revised 2010 | % Diff. | Proposed 2011 | |||||
| 300 M | $132.26M | $82.00M | -38% | $74.69M | |||||
| 55 M | $162.60M | $110.66M | -32% | $110.66M | |||||
| 80 M | $124.08M | $92.75M | -25% | $111.27M | |||||
| 100 M | $90.98M | $68.18M | -25% | $90.98M | |||||
| 1201 M (Martime #1) | $87.97M | $72.57M | -18% | $64.74M | |||||
| 1100 NJ | $142.79M | $121.40M | -15% | $139.16M | |||||
| 100 I | $85.20M | $73.00M | -14% | $85.20M | |||||
| 70 I | $132.28M | $119.00M | -10% | $132.28M | |||||
| 1000 NJ * | $84.46M | $81.06M | -4% | $79.75M | |||||
| 770 M (Blue Castle) | $23.93M | $23.17M | -3% | $23.93M | |||||
| 1220 12th (Maritime #2) | $66.99M | $65.57M | -2% | $47.57M | |||||
| 909 NJ | $68.05M | $73.58M | 8% | $79.93M | |||||
| * This is for the residential portion of Capitol Hill Tower; the 2010 assessments on the Courtyard by Marriott show no change. | |||||||||
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Capitol Riverfront BID, jpi
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I attended my first-ever foreclosure sale this morning (yay...?), where the two lots at 23 I Street (the old Wendy's site) that JPI had purchased in 2007 for $28.6 million were to be auctioned off after JPI defaulted on its $25 million loan. However, there were no bidders for the 47,000-sq-ft piece of land (which doesn't include the Exxon next door), and so the property is now owned by Ruben Companies, which bought the original note from Key Bank earlier this year.|
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