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).
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.