Newmark Arranges $13M Sale of Student Housing Property in D.C.
Newmark has arranged the $13 million sale of 1527-1529 18th Street, a 22,340-square-foot property sitting on a 10,854 square foot lot in Washington D.C.
The buyer, the University of Utah, will use the location as a living and gathering place for students of the Hinckley Institute of Politics, which runs one of the nation’s longest running Washington, D.C. internship programs. The location was a key component for their decision to purchase the asset as it offers students a safe environment in which to access Dupont Circle and Capitol Hill. The sale comprises three buildings: 1529 18th Street, NW, 1527 18th Street, NW and a Carriage House at 1781 Church Street, NW.
The property once served as the residence of Charles Evans Hughes, an American statesman, lawyer and politician who served as the 36th Governor of New York, United States Secretary of State and Chief Justice of the United States.
Doug Damron and Chris Lucey of Newmark brokered the transaction on behalf of the seller, the Mathematical Association of America (MAA).
- ◦Sale/Acquisition