Stephen Gardner Of Amtrak Acquires Mixed-use Property From Joseph Amoroso Michael Rebibo Joshua Khakshoor For $505M
40 50 Massachusetts Avenue Northeast
$505,000,000
$832/SF
Building Size
607,000 SF
Asset Type
Mixed-use
Closing
Mar 11, 2025
AI
The mixed-use property located at 40-50 Massachusetts Avenue Northeast in Washington, DC was sold for $505,000,000. The asset encompasses a total square footage of 607,000, resulting in a price per square foot of $831.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $505,000,000
- Sale Date: 03/11/2025
- Buyer: Stephen Gardner - Amtrak
- Seller: Joseph Amoroso, Michael Rebibo & Joshua Khakshoor - Rexmark
The transaction involved key figures including the buyer Stephen Gardner representing Amtrak and the sellers Joseph Amoroso, Michael Rebibo, and Joshua Khakshoor representing Rexmark. These individuals played a crucial role in facilitating the deal.
Players
Washington Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93