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.
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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.
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.
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.
1922 Eye Street
Available for lease are two fully built out spaces; a former juice bar inclusive of equipment and a former yoga studio. Located in the heart of Washington DC’s Central Business District/Foggy Bottom, the property abuts major office buildings such as The World Bank, International Monetary Fund and The United Nations, comprising over 24 million square feet of office space within 0.25 miles of the site. Combined with the 250,000 employees in walking distance, the property is a few blocks from one of the nation’s most prestigious private colleges, The George Washington University, home to over 26,000 students. Supported by exceeding strong retail drivers, the opportunity is prime for a business to thrive in these available spaces.
Property Highlights.
- 3 floors
- 2,100 SF available
- Can be combined or leased seperately
- Fully built out former juice bar
- Second and third floor former yoga studio
Demographics & Market Stats.
- Population of 54,454 within a one-mile radius
- Median household income of $101,879 within a one-mile radius
- 247,573 daytime employees
- 24 million square feet of office space within 0.25 miles of the site.
- 99 Walk Score
For More Information.
Roger Carlson
202.777.0148 | rcarlson@monumentretail.com
Valerie Mnayarji
202.772.0523 | vmnayarji@monumentretail.com
1508 14th Street
Prominently located at 1508 14th Street NW, the property is well positioned in one of DC’s most desirable submarkets, 14th Street corridor/Logan Circle. Fronting 14th Street between Church Street and P Street, the property is ideally situated near a top performing Whole Foods. Vast development along the 14th Street corridor has spurred a flood of national retail tenants to the market, including Starbucks, sweetgreen, Shake Shack, Lululemon, TD Bank, PNC Bank, Chase Bank, CVS and Walgreens; making the corridor one of DC’s most coveted retail destinations. Located on one of DC’s busiest blocks, the property benefits from exceptional daily exposure with a current population of 108,000 (and projected 12% growth within the next five-years) within a one-mile radius and a walk score of 97.
Property Highlights.
- 7,700 square foot retail property
- Core urban location – close proximity to top performing Whole Foods
- 14th Street Corridor/Logan Circle is one of the most sought-after submarkets in the District
- $138,000 Average Household Income
- 14.3M SF Residential Development Under Construction
Demographics & Market Stats.
- 108,000 Residents
- 121,000 Daytime Employees
- 12% Population Growth Through 2022
- $138,000 Average Household Income
- 14.3M SF Residential Development Under Construction
- 5M+ SF Retail
Offered for Sale.
LIST PRICE: $8,185,000 | CAP RATE: 5.00%
For More Information.
Danny Brooker
202.772.0530 | dbrooker@monumentretail.com
Rich Sillery
202.777.2005 | rsillery@monumentretail.com
2325 18th Street
This 2-story, 4,080 square foot iconic retail property is located in the center of the highly-desired Adams Morgan submarket of Washington, D.C. It has a desirable grade-level entrance versus a step-down or step-up entrance. Each floor features 1,840 square feet of prime retail/restaurant space with high ceilings and an exposed 400 square foot mezzanine. The property is also fully vented and has alley access in the rear. Its former tenancy was a well renowned jazz bar in operation for over 25-years. The offering represents a rare opportunity to acquire an iconic retail property ideally positioned in one of Washington, DC’s most vibrant neighborhoods.
Property Highlights.
- Property is well-known due to long term former tenant of 25-years, highly acclaimed jazz club, Columbia Station
- Direct access into the property from street, alley access in the rear, open floor plan, high ceilings and 400 square foot mezzanine
- Large signage availability
- 4,080 square foot retail/restaurant property
- Fully operational commercial kitchen
- 22’ frontage on 18th Street NW, the center of Adams Morgan’s nightlife and restaurant scene
- Improved second-generation restaurant and lounge interior build out inclusive of large outdoor patio
Demographics & Market Stats.
- Population of 93,000 within a one-mile radius
- 7% population growth through 2023 within a one-mile radius
- Average household income of $143,000 within a one-mile radius
- The LINE Hotel delivered 220 rooms in 2017, just a few blocks from offering
- 30% rental increases in renovated apartment buildings within a one-mile radius
- 975 units under construction within a one-mile radius
- Adams Morgan is one of the most sought-after submarkets in Washington, DC
- Established commercial hub which boasts 100+ retail stores
Offered for Sale.
LIST PRICE: $2,750,000
For More Information.
Danny Brooker
202.772.0530 | dbrooker@monumentretail.com
Rich Sillery
202.777.2005 | rsillery@monumentretail.com
Valerie Mnayarji
202.772.0523 | vmnayarji@monumentretail.com
2849 Jessup Road
Offered for sale is a newly constructed ground leased Panera Bread, ideally positioned at the signalized intersection of Jessup Road and Shannon’s Glen Drive in Jessup, Maryland. The 20-year ground lease includes 10% rental increases every five-years throughout the primary term and option periods (four, five-year). Panera greatly benefits from their proximity/connectivity to the National Business Park (2M square feet of existing office space with another 2M square feet under construction) and the National Security Agency (38,000 employees; hiring and additional 1,000 employees annually); serving as the area’s primary breakfast/lunchtime option. The offering is a rare opportunity to acquire a long-term ground lease backed by a premier tenant; surrounded by office and residential development in the highly coveted Baltimore/Washington metropolitan area.
Property Highlights.
- Brand new prototype with drive-thru
- 20-year absolute net ground lease with four, five-year options thereafter
- 10% rental increases every five-years
- Ideal 1031 exchange opportunity
Demographics & Market Stats.
- Proximity/connectivity to National Business Park and NSA headquarters
- Adjacent to The Elms at Shannon’s Glen (364 luxury apartments)
- Adjacent to 115 newly constructed townhomes by Lennar
- Nearly $481M in annual consumer spending on food and alcohol with a five-mile radius
Offered for Sale.
LIST PRICE: $2,316,000
For More Information.
Danny Brooker
202.772.0530 | dbrooker@monumentretail.com
Rich Sillery
202.777.2005 | rsillery@monumentretail.com
Valerie Mnayarji
202.772.0523 | vmnayarji@monumentretail.com
3277 M Street
Offered for sale is a 3,000 square foot street level retail condominium, prominently situated on a hard, signalized corner along M Street NW, in the iconic high-street retail district of Georgetown in Washington, DC. Boasting one of the highest amounts of wealth in the country, Georgetown is home to 44,244 people with an average household income of $149,608, and home to one of the nation’s most elite private colleges, Georgetown University. The retail offering is located below 15,200 square feet of office space and, is surrounded by over 600 recently delivered residential units and 2.1 million square feet of high-end retail and restaurants. The offering represents a rare opportunity to acquire generational urban retail ideally positioned in one of Washington, DC’s most iconic neighborhoods.
Property Highlights.
- Georgetown is one of the nation’s most expensive high-street retail submarkets
- Two retail bays with ventilation on the ground floor provide a wide variety of uses
- Tremendous real estate fundamentals – core urban location ideally positioned along highly trafficked M Street NW
Demographics & Market Stats.
- Residential population of 44,244 within a one-mile radius of the offering
- Over 4,000 residential units under construction or planned and 600 recently delivered residential units.
- Georgetown homes sales were 2.6 times higher than average home sales in Washington, D.C. this year
- Georgetown boasts median household incomes of $121,000, 42% times higher than the rest of the city
Offered for Sale.
LIST PRICE: $3,300,000
For More Information.
Danny Brooker
202.772.0530 | dbrooker@monumentretail.com
Rich Sillery
202.777.2005 | rsillery@monumentretail.com
Valerie Mnayarji
202.772.0523 | vmnayarji@monumentretail.com
1807 14th Street
Prominently located at 1807 14th Street NW, the property is well positioned in one of DC’s most desirable submarkets, 14th Street corridor/Logan Circle. Fronting 14th Street between S and T Streets, the property is ideally situated near a top performing Trader Joe’s. Vast development along the 14th Street corridor has spurred a flood of national retail tenants to the market, including Starbucks, sweetgreen, Shake Shack, Lululemon, TD Bank, PNC Bank, Chase Bank, CVS and Walgreens; making the corridor one of DC’s most coveted retail destinations. Located on one of DC’s busiest blocks, the property benefits from exceptional daily exposure with a current population of 108,000 (and projected 12% growth within the next five-years) within a one-mile radius and a walk score of 98.
Property Highlights.
- 1,060 SF of Prime Retail Space
- Two floors Fronting 14th Street
- Full Building Signage Available
- 14th Street Corridor/Logan Circle is one of the most sought-after submarkets in the District
Demographics & Market Stats.
- 108,000 Residents
- 121,000 Daytime Employees
- 12% Population Growth Through 2022
- $138,000 Average Household Income
- 14.3M SF Residential Development Under Construction
- 5M+ SF Retail
For More Information.
Danny Booker
202.772.0530 | dbrooker@monumentretail.com
Rich Sillery
202.7727.2005 | rsillery@monumentretail.com
