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Former Atlantic Building to Become Part of New Office Complex

WASHINGTON, DC-The historic facade and land that serve as the sole reminder of the century-old Atlantic Building have been sold to District developer Douglas Jemal of Douglas Development Corp. The sale price was rumored at $10.5 million.

By Barbra Murray | Updated on February 28, 2002

WASHINGTON, DC-What remains of the Atlantic Building at 930 F Street–once the largest commercial structure in the District–has been sold to area developer Douglas Jemal of Douglas Development Corp. for a rumored $10.5 million. The site, which is home to only the façade of the building that was built in 1888, was most recently assessed at a value of a little more than $3 million.

Jemal refused to comment on the purchase price “until it is public record.” The deal took place in mid-February and is expected to close later in March. “I felt it was a fair deal,” says Jemal. He plans to combine the space with three adjacent properties in his significant Washington portfolio to create a sprawling office complex with retail space.

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