Eagle Cliff Real Estate Partners Acquires Office Building In Downtown Washington, DC For $30M
660 North Capitol Street Northwest
$30,000,000
$148/SF
Building Size
202,000 SF
Asset Type
Office
Closing
Dec 22, 2023
About this deal
AI
Eagle Cliff Real Estate Partners, represented by Paul Teti from the same agency, has acquired the office building located at 660 North Capitol Street Northwest in Washington, DC. The property was purchased for a total price of $30 million in a foreclosure proceeding initiated by Apollo Global Management.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,000,000
- Square Footage: 202,000 SF
- Price Per Square Foot: $149
- Address: 660 North Capitol Street Northwest, Washington, DC
- Buyer: Paul Teti - Eagle Cliff Real Estate Partners
- Seller: N/A
- Market: Washington, DC
The acquisition of the office building by Eagle Cliff Real Estate Partners was made possible through the foreclosure proceedings initiated by Apollo Global Management. This transaction signifies an important deal in the Downtown Washington, D.C. market, offering a prime investment opportunity.
On the Map
$30,000,000
$148/SF
Office
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Washington Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93