WASHINGTON, DC—PRP has secured the notable Japanese restaurant Nobu as its retail anchor for its condo redevelopment project underway at 2501 M St., NW.
The company acquired the building at the end of last year for $31.6 million with an unnamed institutional investor. The 100,000 square foot building, located at the edge of Georgetown, used to house the Association of American Medical Colleges. When it acquired the building PRP announced it would convert it into a luxury condo building with some 60 units and 11,500 square feet of retail.
This week PRP and GreenOak Real Estate announced that Nobu Restaurant would be taking all of the retail space in its first Washington DC location.
The restaurant will feature floor to ceiling glass and two outdoor private patios overlooking Rock Creek Park. The now 59 condo units will have floor-to-ceiling glass along with other amenities expected in a luxury residence. Early sales will begin in the spring of 2016 and residences will deliver in the fall of 2016.
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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.
