According to the Washington Business Journal, a much-eyed parcel of land near the Navy Yard and the new The Yards project and Nationals Ballpark in Southeast is back on the market. The almost 100,000-sf, Civil War-era “Blue Castle” building at 770 M Street SE (and the 1.6 acres it sits upon) is now owned by Preferred Real Estate Investments Inc. of Conshohocken, PA, which bought the property for $20.2 million in 2005. The current sale is being handled by Cassidy & Pinkard Colliers. Whoever the buyer is, they will inherit the current leases now being used through 2012 by charter schools Eagle Academy Public Charter and Kipp D.C.'s Key Academy. At that point, the property will most likely be redeveloped; the current zoning is for retail and office development of 214,000 sf. Cassidy & Pinkard Colliers has already reportedly received a number of proposals, though no decisions have been made at this time.
Friday, July 06, 2007
Southeast’s "Blue Castle" Property Back On Market
According to the Washington Business Journal, a much-eyed parcel of land near the Navy Yard and the new The Yards project and Nationals Ballpark in Southeast is back on the market. The almost 100,000-sf, Civil War-era “Blue Castle” building at 770 M Street SE (and the 1.6 acres it sits upon) is now owned by Preferred Real Estate Investments Inc. of Conshohocken, PA, which bought the property for $20.2 million in 2005. The current sale is being handled by Cassidy & Pinkard Colliers. Whoever the buyer is, they will inherit the current leases now being used through 2012 by charter schools Eagle Academy Public Charter and Kipp D.C.'s Key Academy. At that point, the property will most likely be redeveloped; the current zoning is for retail and office development of 214,000 sf. Cassidy & Pinkard Colliers has already reportedly received a number of proposals, though no decisions have been made at this time.
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2 comments:
I've always wondered what this place was, but never had the motivation to cruise SE. You can see part of it when driving on 295/395 towards Anacostia.
Kipp & Eagle Academy are really fantastic schools that are doing great things to change education and lives in this city.
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