901 New York Avenue

A Partner First, A Developer Second.

In October 1997, Monument Realty and our investment partner, Apollo Real Estate Advisors, contracted to purchase 901 New York Avenue, a 1.2-acre property adjacent to Mount Vernon Square. At the time, it was considered a fringe office location. However, previous development experience with another East End property convinced us that 901 New York Avenue had great potential.

To help mitigate risk, Monument Realty used our relationship with the seller to negotiate a long-term contract that effectively optioned the property while we explored various development plans. Ultimately, we considered two options: One, a 920-room convention center headquarters hotel that would open concurrently with the proposed 2.5 million-square-foot Washington Convention Center; Two, a 530,000-square-foot office building with first-floor retail. We advanced both development plans and in May 1999, after 19 months under contract, Monument Realty purchased the property for $14.5 million ($30/FAR).

In approximately 18 months, the market had shifted significantly in our direction. The site was no longer considered a fringe location and the development plan was clear—the office building option. Over the next 12 months, Monument Realty negotiated the purchase of a small spike that gave the venture control of an entire city block, added value through a series of modifications to the existing PUD approval, completed the building design, began marketing the property for lease, and solicited construction financing proposals from lenders.

In spring of 2000, however, Monument Realty was presented with an interesting dilemma when we received an offer from Boston Properties to purchase the property for $42.6 million ($80/FAR). In our first two years of operations we had built a development portfolio of 2.5 million square feet, of which 901 New York Avenue was the crown jewel and the company’s first development in our hometown of Washington, DC. Selling the property was the furthest thing from our minds—that is, as a developer. Yet, as a partner in a real estate investment, the decision was obvious. In December 2000, Monument Realty sold 901 New York Avenue to Boston Properties.

We Made It Happen.

Michael J. Darby

Principal, Founder
589

Joshua A. Olsen

Executive Vice President
562

F. Russell Hines

President
558

Half Street

Foresight, Timing, and the Right Partners.

Recognizing an opportunity and acting without hesitation – that’s how Monument Realty secured 50 parcels of land from 21 separate owners at the doorstep of Nationals Park.

Monument Realty bet big on what is today one of Washington’s most exciting neighborhoods. But before it was home to the Washington Nationals, it was already a huge financial win for our investment partners.

On the eve of MLB’s announcement to relocate the Montreal Expos to Washington, Monument Realty unveiled a bold and ambitious game plan: acquire ALL the available land in front of the proposed ballpark.

In what we dubbed “Operation Play Ball,” our vision, feel for the market and detailed due diligence helped set the stage for what is considered one of the best land deals in recent Washington history as we locked up key parcels of land while boxing out all competitors. In less than two years, Monument Realty and our partners assembled 4.5 acres of land with development rights for nearly 1.3 million square feet, leading the District to name Monument Realty “Master Developer” of the area.

We Made It Happen.

Douglas D. Olson

Executive Vice President
556

F. Russell Hines

President
558
Kenneth Meile

Kenneth Meile (Ken)

Vice President of Construction

The Odyssey

A Clever Reaction to an Early Read on the Market.

Sensing an opportunity in the market, Monument Realty quickly shifted gears and rolled out a creative sales campaign designed to drive demand and maximize the value of a high-profile condominium project.

Monument Realty and our condominium sales team put together an open house for The Odyssey, a 274-home luxury condominium located at the Courthouse Metro. The event was held at the Clarendon Ballroom, which had a capacity of 500—yet over 1,000 prospective purchasers showed up, with hundreds lined up along the sidewalk, all waiting for an opportunity to receive information about the project. The residential market had just started to heat up, but the Clarendon Ballroom event represented one of the first major signals that it was ready to take off.

Reading the signals in the market and taking advantage of arguably the best views of the Washington, DC area, Monument Realty developed a strategy to maximize return by creating a super-luxury tier on the top seven floors, referred to as the “Platinum Suites.” This entailed creating a new set of layouts and finishes, as well as a separate marketing campaign.  In short, we split The Odyssey into two projects, broadening the target market.

To this day, The Odyssey is considered one of the best condominium projects in Northern Virginia, earning the award for the best Mid-Atlantic Condominium Project from Delta Associates, as well as other industry awards.

We Made It Happen.

Michael J. Darby

Principal, Founder
589
Natalie Hasney

Natalie Hasny

Director of Sales, Associate Broker

Monument Village at College Park

Designed to attract young professionals, associate professors, and graduate students, Monument Village at College Park offers 235 apartments, featuring a mix of studios, one-bedrooms, and two-bedrooms. The community amenities include a club room, media and theater room, business lounge, outdoor pool and courtyard, fitness club with separate spin room, bike storage, and a pet spa. The building is conveniently located between the University of Maryland College Park and
I-495, with a Route 1 Ride Stop just outside the front door.

Monument Village is built to LEED® Silver standards and features a variety of green initiatives such as bicycle storage facilities, Zipcars on standby in the garage, ENERGY STAR® appliances, high-efficiency water fixtures, and advanced lighting packages.

Features.

  • Studio, One- & Two-bedroom Apartments
  • Select Number of Loft-Style Apartments with Expansive Ceiling Height
  • Open Layouts & Modern Design Touches
  • High-Gloss Kitchen Cabinets in White & Gray
  • Kitchen Bar with Room for Seating & Entertaining
  • Separate Dining Room
  • Hardwood-Style Floors
  • Granite Countertops in Cloud White
  • Stainless Steel Appliances
  • Luxurious Bathrooms with Soaking Tubs
  • Ceramic Tile Showers
  • GE Stackable Washers & Dryers
  • Walk-In Closets with Generous Storage & Customizable Elfa Closet System
  • Balconies & Patios

Amenities.

  • Club Room with Full Catering Kitchen, Fireplace, 5 Samsung Smart TV’s, Pool Table & Wi-Fi
  • Resort-Style Pool with Cabanas, Lounge Seating & Grilling Area
  • Pet-Friendly Building
  • Pet Spa & Dog Run
  • Zen Garden
  • Lounge with Apple & PC Comuter Stations, Complimentary Wi-Fi & Coffee Bar
  • Movie Theater & Gaming Room with 2 Samsung Smart TV’s & Snack Bar
  • Fitness Club with Precor Equipment, Separate Yoga & Spin Studio
  • Controlled-Access, Private Parking
  • Conference Room
  • Additional Storage Available

Floor Plans.

Whether you are moving up in your career or moving up in your degree, when it comes to your apartment home, Monument Village is as elevated as you can go. Each upscale studio, one-bedroom and two-bedroom apartment in our brand new apartment community is complete with high-end finishes and sophisticated design. Open floor plans, walk-in closets, granite countertops, luxurious bathrooms, loft-style options, balconies and patios, and in-apartment washer/dryers are just the beginning.

View Floor Plans

225 N Calvert

225 North Calvert Street is the newest and most amenity-rich apartment building to open in downtown Baltimore.
A complete renovation of an existing office building into modern, spacious apartments. The facade has been pulled back and redesigned to create full-sized balconies for most of the residences. The building offers additional ceiling height on the 12th floor, allowing for a select number of two-story lofts with 22-foot ceilings, making 225 North Calvert Street an even more distinctive offering in the downtown rental market. Additionally, there are more than 400 parking spaces located both above and below grade. Approximately one half of the provided parking spaces are secured access.

The amenities offered by 225 North Calvert Street are both unique and unmatched among apartments in downtown Baltimore, designed to attract young professionals. In addition to balconies and ample on-site parking, 225 North Calvert Street offers the largest rooftop terrace in the area, spanning the full length of the building. The rooftop includes a large swimming pool with surrounding sundeck, club lounge with fireplace and bar, entertainment kitchen, game room, multimedia theater, and outdoor seating areas. Viagra is usually taken within 1 hour before the planned sexual activity and acts about 4 hours. It should be noted that the intake of fatty foods can reduce the effectiveness of sildenafil, and http://hesca.net/viagra/ alcohol intake significantly increases the possible side effects. Its advantage is a lower price compared to newer competitors. The ground floor features a 5,600 SF health club with three separate studios for cardio/strength training, indoor cycling, and yoga/Pilates.

Features.

  • One- & Two-Bedroom Apartments
  • 10-Foot Ceilings, Expansive Windows & Custom Lighting
  • Select Number of Loft-Style Apartments with 22-Foot Ceilings & Two-Story Glass Windows
  • Contemporary Hardwood-Style Flooring
  • Modern Cabinets & Hardware
  • Granite Countertops
  • Sleek, Stainless Steel Appliances
  • Ceramic Tile Bathroom Finishes & Glass Showers
  • Private Balconies

Amenities.

  • Rooftop Terrance, Pool & Lounge
  • Health Club & Yoga Studio
  • Controlled-Access Garage Parking
  • Expansive First-Floor Lobby
  • Pet-Friendly Building
  • Bike Storage
  • Individual Storage Units
  • First-Floor Retail
  • Automated Package Lockers
  • Smoke-Free Community

Floor Plans.

We’ve designed our kitchens and living spaces to be more open yet defined so you get the perfect balance of form and function. What will you enjoy more? The extra space of your very own balcony with amazing views inside and out? Or having your own washer and dryer? Choose from one- and two-bedroom apartments, our selection of unique two-story lofts, or our club level apartments on the 12th, 17th and 18th floors—for the plan that best fits your lifestyle.

View Floor Plans

Retail Leasing.

9,500 SF of ground floor retail space adds to the exciting atmosphere of the area as downtown Baltimore continues growing into an attractive destination for living, dining, and entertaining. 225 N Calvert Street’s retail space is located on the corner of N Calvert Street and E Saratoga Street.

FOR MORE INFORMATION, PLEASE CONTACT:

Roger Carlson
202.777.0148 | rcarlson@monumentretail.com

Newsworthy Notes.

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Take a Glimpse Inside the Modern 225 North Calvert Street Apartments

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WhyHotel — A Pop-Up Hotel — to Operate Out of New 225 North Calvert Street Apartments

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1010 Mass Ave

Prominently located in the heart of the Mount Vernon Square, this multi-tenant retail condominium is well positioned in one of Washington, DC’s most coveted and transformative submarkets. The property is ideally positioned beneath 163 luxury residential condos and engulfed by a mass of surrounding office, residential and hospitality properties making this an ideal location for retailers to thrive. Located only one-block from the 2.3 million square foot Walter E. Washington Convention Center, drawing over 1 million visitors annually, and adjacent to the Marriott Marquis, Washington, DC’s largest luxury hotel, this supremely located retail condo benefits from continuous pedestrian traffic.

The retail condominium enjoys 340 feet of prime frontage along Massachusetts Avenue and 11th Street, a heavily trafficked intersection, and is fully leased to four separate tenants: Bolt Burger, SOULEX Float Spa, Subway and Hai Gloss Nail & Beauty Spa. The offering represents a rare opportunity to acquire a fully stabilized, core urban retail condominium with a superior tenant-mix, ideally located in one of Washington, DC’s most desirable neighborhoods.

Property Highlights.

  • 8,680 SF Street Level Retail Condominium
  • Multi-Tenant Net-Leased Urban Retail
  • Below Market Rents
  • Core Urban Location
  • One-Block from the Walter E. Washington Convention Center (2.3M SF & 1M Visitors Annually)

Demographics & Market Stats.

  • 64,100 Residents
  • 86,800 Daytime Employees
  • 40% Population Growth from 2010-2018
  • $129,000 Average Household Income
  • 1.4M SF Planned Development in the Next 5 Years
  • 8M SF Existing Office Space

Offered for Sale.

LIST PRICE: $8,165,000 | CAP RATE: 6.50%

For More Information.

Danny Brooker
202.772.0530 | dbrooker@monumentretail.com

Rich Sillery
202.777.2005 | rsillery@monumentretail.com