WASHINGTON, DC–For some time the thinking has been that sooner or later the so-called Kennedy Street Corridor — a micro market in Brightwood Park — would show serious signs of becoming a neighborhood in which residents and businesses would want to invest. That is day here, say Marcus & Millichap's Grant Fitzgerald, Marty Zupancic and Matthew Chambers.
They recently sold a 8,410-square foot lot to a local developer which has tentative plans to build a 28-unit condo building (if not, an apartment building) at the address of 5508 7th St., NW. The lot sold for $2.35 million, or $88.63 per buildable square foot.
The team also sold a development site at 423 Kennedy St. NW in 2016.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
