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1515 15th St NW, Washington...

Isaiah Harf Of Stan Johnson Company Represents Seller In $7.6M Sale In Washington DC
SOLDCondo

Isaiah Harf Of Stan Johnson Company Represents Seller In $7.6M Sale In Washington DC

1515 15th St NW, Washington, DC, 20...

$7,600,000

$1,726/SF

Building Size

4,403 SF

Asset Type

Condo

Closing

Nov 20, 2023

AI

A 4,403-square-foot retail condo located at 1515 15th St NW, in the Washington, DC market has been sold for $7,600,000. The property, situated on the ground floor of the Metropole Condominiums, was fully leased to TD Bank at the time of sale. Built in 2008, the asset lies within the Logan Circle neighborhood.

Summary of transaction details:

  • Property Type: Retail Condo
  • Transaction Amount: $7,600,000.00
  • Address: 1515 15th St NW, Washington, DC
  • Square Footage: 4403
  • Market: Washington
  • Seller's Representative: Isaiah Harf - Stan Johnson Company
  • Buyer: Undisclosed 1031 exchange buyer

Isaiah Harf represented the seller, a private investor based in Maryland, during this transaction. The buyer, a California-based entity, utilized a 1031 exchange to acquire the property.

Players

Isaiah Harf

NorthMarq

Broker

$162.2M

vol

8 deals

Broker

Washington Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.09%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93