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Sale Reunites Multi-Phase Office Project Under Single Owner

WASHINGTON, DC-The $33 million sale of 1225 New York Ave. NW, reunites it under a single owner with its Siamese twin counterpart, 1201 New York Ave. They are actually part of the same building built in two stages.

By Mike Cleary | Updated on November 07, 2000

WASHINGTON, DC-Strategic Real Estate Advisors has purchased a 13-story office building at 1225 New York Ave. NW for $33 million on behalf of a private overseas investor. At 113,741 sf, the price was about $290 per sf. The two connect with each other and look as one building from the outside.

The building is actually the second phase of an integrated development by Kaempfer Development that began with 1201 New York Ave. The first was built in 1987 and the second was completed in 1993. The latest purchase reunites the building under one owner. Strategic Real Estate advised Falcon Realty Co. when it purchased 1201 New York Ave. in the first quarter of 1999. The two properties combined total 434,343 sf and are 100% leased.

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