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Greysteel Arranges Sale of DC Church Property
Greysteel has completed the sale of a 15,000-square-foot church and parish house in Washington, DC to MR 1401 15th Street Retail LLC, an entity controlled by Monument Realty, for $3.25 million.
Ian Weisz and Benjamin Wilson exclusively represented the seller, Central Atlantic Conference of the United Church of Christ, in the transaction. Danny Brooker and Rich Sillery of Monument Retail represented the purchaser.
The property is located at 1401-1405 15th Street NW. Monument Realty plans to redevelop the property. It is ideally located between Logan Circle and Dupont Circle and adjacent to the Whole Foods on P Street NW.
“While conversion to several property types was considered, we continue to see properties like this being attractive to entrepreneurs capable of a more traditional retail execution,” said Ian Weisz, Director at Greysteel. “For this property, we negotiated among 10 competitive offers interested in developing a wide variety of uses.”
