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1629 Columbia Road Northwest
SOLD

Bernstein Management Corp Acquires The Argonne Multifamily For $64M

1629 Columbia Road Northwest

MultiFamily
clock iconSold 69 days ago
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Summary

Sale
NATIONAL
MultiFamily

The Argonne is a 276-unit apartment property located at 1629 Columbia Road Northwest in Washington, D.C. The property was sold for $64 million in a transaction involving the buyer Joshua Bernstein from Bernstein Management Corp and the seller Bradley Aaronson from CIM Group. PGIM Real Estate provided a $35.5 million loan for the acquisition.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $64,000,000
  • Units: 276
  • Price Per Unit: $231,884
  • Buyer: Joshua Bernstein - Bernstein Management Corp
  • Seller: Bradley Aaronson - CIM Group
  • Lender: PGIM

Bernstein Management Corp acquired The Argonne from CIM Group for $64 million. The property was previously purchased by CIM Group for $73.6 million in 2013. This transaction marks a significant deal in the Washington, D.C. multifamily market.

Details

Deal Summary
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SOLD
IMAGE: 05/16/2024 ADDRESS: 1629 Columbia Road Northwest MARKET: Washington, DC ASSET TYPE: Multifamily BUYER: Joshua Bernstein - Bernstein Management Corp SELLER: Bradley Aaronson - CIM Group LENDER: PGIM SALE PRICE: $64,000,000 UNITS: 276 ~ PPU: $231,884 NOTE: Bernstein Management Corp. acquired The Argonne, a 276-unit apartment property in Washington, D.C., for $64 million. CIM Group, which bought the property for $73.6 million in 2013, sold it to Bernstein, with PGIM Real Estate providing a $35.5 million loan.

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Address1629 Columbia Road Northwest

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