Dalian Development Acquires Former GSA Office In Washington DC For $24M With Conversion Plans
301 7th Street Southwest
$24,000,000
Building Size
—
Asset Type
Office
Closing
Mar 26, 2026
About this deal
AI
The property asset involved in the transaction is a former GSA office located at 301 7th Street Southwest in Washington, DC. The asset spans a total of 940,000 square feet and was sold for $24,000,000. The buyer intends to convert the office space into apartments as part of a larger trend in the federal real estate downsizing initiative.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24,000,000
- Address: 301 7th Street Southwest
- Market: Washington, DC
- Buyer: Dalian Development
Dalian Development aims to use the acquisition to reduce operating costs, projected to save $5.5 million annually. This strategic purchase aligns with the GSA's efforts to downsize its federal real estate holdings.
On the Map
$24,000,000
Office
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Players
Washington Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93