1101-1109 Q St. NW

WASHINGTON, DC–A popular play for developers in the WashingtonDC area has been to buy small, urban infill properties to redevelopinto luxury condos. And so it went for 1101-1109 Q St.NW recently — a partially occupied multifamily complexconsisting of three contiguous buildings that were built in 1911and that sit on a 6,223-square-foot lot. They are just north of theShaw Historic District and northeast of the Logan Circle HistoricDistrict.

As is typical for Logan Circle specifically and multifamily/condo development opportunities in general, the marketing process,led by Marcus & Millichap's Grant Fitzgeraldand Marty Zupancic, went well and yielded 25written offers. The property sold for $3.5 million, 16.7% above thelist offer.

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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.