Korean Consortium Acquires 1660 L St. for $52M

WASHINGTON, DC-An investment division of a Korean industrial consortium has purchased the office building at 1660 L St. NW for $52.3 million. Carter Cafritz John Hanson Real Estate, a partnership operating under the guidance of Cafritz Development Interests, sold the 125,800-sf building.

Situated on a one-third acre corner lot, 1660 L St. is within walking distance of the White House. The building is home to the Economic Policy Institute, General Motors, Hyundai Corp. and the United Cerebral Palsy Association. The class A property underwent a renovation in 1998 and, according to District real estate records, has a current assessed value of $30.9 million.