801 17th St. Sells for $80M

WASHINGTON, DC-New York City-headquartered Louis Dreyfus Property Group acquired 801 17th St. NW from Bethesda, MD’s Blum, Frank & Kamins Cos. For $80 million. According to District property records, the 225,000-sf structure and the half-acre parcel it occupies three blocks from the White House have a total current assessed value of $35.3 million.

The $356-per-sf price tag exceeds the average sale price for a class B property in the District which, according to Advantis Real Estate Services Cos.’ Third Quarter 2005 Office Report, is $338 per sf, year-to-date. Developed in 1972, 801 17th St. is a 12-story structure that is presently fully occupied by the Federal Deposit Insurance Corp. The agency, however, will vacate the premises early next year and relocate to a new office building in Arlington, VA.