Historic Museum Site Sells for $24M

WASHINGTON, DC-The $24 million sale of the 110,000-sf property that currently houses the Capital Children’s Museum to Abdo Development has closed. The 2.4-acre locale–which will shutter its doors on Labor Day in preparation for the creation of a new museum home at another location–will be redeveloped into a condominium community at the hands of Abdo Development. Marcus & Millichap Real Estate Investment Brokerage Co. orchestrated the deal.

Situated at 800 3rd St., the main museum building was originally developed 130 years ago as an 80,000-sf structure with a smaller 5,000-sf building at its side. In the 1950s, then-owners added about 30,000-sf space to the main structure. Abdo plans to demolish the later additions, while preserving the original spaces.