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Silverback Enters DC With Dupont Circle Deal

It has partnered with the Kossuth Foundation to acquire and restore 2001 Massachusetts Ave., NW.

By Erika Morphy | Updated on January 16, 2018

2001 Massachusetts Ave. Photo by Kossuth Foundation

WASHINGTON, DC–New York City-based Silverback Development entered the Washington DC area market last month via a joint venture with the Kossuth Foundation to acquire and restore 2001 Massachusetts Ave., NW. The Kossuth Foundation, which is dedicated to maintaining and encouraging Hungarian-American culture, is the nonprofit charity that is the successor to the previous building owner, the Hungarian Reformed Federation of America.

The new owners of the property declined to discuss pricing, noting that the site has been tied up in litigation and that the acquisition price wasn’t a reflection of the fair market value for the building due to the cost of the lawsuit.

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