WASHINGTON DC – Real estate investment and development firm, Foulger-Pratt has acquired a 287,000-square-foot office building at 1425 New York Ave. N.W. in Washington DC. The company plans to convert and redevelop the 13-story asset into a class A multifamily property.
Once complete, the property will feature 255 rental units across 280,000 square feet. It will be the closest residential property to the White House.
The adaptive reuse project will cost a total of $62 million, including price paid, design and redevelopment permits.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
