HH Fund Acquires 400 Florida Avenue NE Multifamily In Washington, DC For $38.3M

The multifamily property located at 400 Florida Avenue Northeast in Washington, DC, was sold for $38,300,000. The asset consists of 110 units with a price per unit of $348,182. The transaction took place on May 31, 2024.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $38,300,000
• Address: 400 Florida Avenue Northeast
• Market: Washington, DC
• Buyer: HH Fund
• Seller: Srinivas Chavali
• Brokers: Martha Hastings & Michael Muldowney - CBRE
• Units: 110
• Price Per Unit: $348,182

Four parties participated in the bidding for the property at Alex Cooper Auctioneers. The auction started with a bid of $30M and was eventually won by HH Fund, based in Silver Spring. The successful acquisition was confirmed by the seller, Srinivas Chavali.