WASHINGTON, DC—New York City-based Thor Equities has entered the Washington DC market with a contract to purchase 3000 M St., NW, it announced Thursday morning.
The company did not disclose the price but word on the street has the 10-story, 125,000-square foot building trading at $53 million. Locally-based SB-Urban is the seller.
The building was formerly the historic Latham Hotel. It features 280 feet of wraparound frontage on 30th and M streets. Thor Equities is considering redeveloping the top floors into other uses such as a hotel or residential building. The ground floor would remain retail, although that too could be redeveloped to maximize the Georgetown address.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
