John Solomond Purchases Multifamily Property From Srinivas Chivali And Kranthi Dudam For $2.15M

A newly built multifamily property with nine units is located at 1915 Benning Road Northeast in the Washington, DC market. This multifamily asset was sold for $2,150,000, resulting in a price per unit of $238,889.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $2,150,000
• Units: 9
• Buyer: John Solomond
• Seller: Srinivas Chivali & Kranthi Dudam
• Broker Representation: Andrew Pacious, John Slowinski, Marty Zupancic & Ryan Murray - Marcus & Millichap

This transaction demonstrates the capabilities of Marcus & Millichap in converting distressed assets into profitable opportunities. The property is situated near RFK Stadium and offers competitive pricing for luxury condos in comparison to replacement costs.