Aldon Management Sells Bethesda Apt Buildings for $86M 

Bethesda, Maryland, saw the sale of two historic apartment buildings by developer Aldon Management to Corner Lot Advisors for $85.6 million. The buildings, Eighty Two Hundred at 8200 Wisconson Ave and Middlebrooke Apartments at 410 Baldwin Park Dr, built in the 1960s, were sold for $63.3 million and $22.3 million, respectively.  

Corner Lot Advisors plans to renovate the properties, including reconfiguring layouts and upgrading amenities. About 25% of Eighty Two Hundred’s units will be designated as affordable housing. Greysteel brokered the sale, highlighting the significance of these properties not changing hands since their construction.  

Aldon had previously renovated the buildings with new elevators, lobby improvements, and upgraded heating and cooling systems. Aldon Management is the management arm of Brown Development, which is also redeveloping other properties in Bethesda’s Battery Lane District. 

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