Search
 

Monument Pays $3.95 Million for District Parking Lot

WASHINGTON, DC-A 16,000-sf parking lot will become the home of a new luxury apartment building with Monument Realty's purchase of the property from Eastern Enterprises for $3.95 million.

By Barbra Murray | Updated on February 11, 2002

WASHINGTON, DC-The parking lot at 1111 11th Street has changed hands with Monument Realty’s purchase of the parking lot from Eastern Enterprises in a $3.95 million transaction. Monument plans to erect a luxury apartment building in the space.

The lot is 16,000 sf in size and will more than adequately accommodate the proposed 116-unit building. With construction slated to begin in June, the company expects to complete the project in 2003. Located near the new convention center, the apartment building will sit in a neighborhood that has yet to realize its potential. “We like that area because of what is happening and what will happen,” Monument principal Michael Darby says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.