WASHINGTON, DC-PNC Financial Services Group, the current owner of the Riggs National Bank headquarters building on Pennsylvania Avenue, plans to put the historic property on the market for sale.
PNC, which has hired Newmark Grubb Knight Frank as its broker, could have the vacant property available for purchase as early as next week, according to the Washington Business Journal. The property has an assessed value of $18 million.
The Corcoran Branch, at 1503-1505 Pennsylvania Ave. NW, was added to the National Register of Historic Places in 1973.The building was originally constructed between 1899 and 1902. PNC took ownership of the property when it acquired Riggs Bank in 2005. See story in the Washington Business Journal.
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