Franklin Square Building Sells for $23.25M

WASHINGTON, DC-The 104,371-sf building at 1212 New York Ave. has been sold by W9/LWS Real Estate Limited Partnership to Jaguar Properties LLC in a $23.25 million transaction. District records show that the property’s assessed value for 2002 is a little more than $18.6 million.

The building is currently 97% leased to tenants such as the Association of Private Pension & Welfare Plans, the American International Health Alliance, and the Washington DC Convention & Visitors Association–which has been in its space since the building’s completion in 1987. Each of the aforementioned organizations occupies an individual floor of the 12-story building. A neoclassical style structure designed by architectural firm Keyes, Condon & Florance and developed by the Hadid Investment Group for about $20 million, 1212 New York also offers a three-floor underground parking lot. The marble-faced structure sits in the District’s Franklin Square area, next door to the National Museum of Women in the Arts.