Search
 

Korean Consortium Acquires 1660 L St. for $52M

WASHINGTON, DC-The 12-story office tower at 1660 L St. NW trades in a $52.3-million transaction. A Korean industrial consortium is taking the 125,800-sf building acquires the site from a Cafritz Development Interests-controlled partnership.

By Barbra Murray | Updated on November 17, 2005

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.

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.