Since January, 2003

Ad by HillAds
 (a random before-and-after moment)
April 2, 2006
September 9, 2012
3rd Place at L, Looking Northeast (see more)

A press release sent out on Tuesday is trumpeting the sales of two of the buildings in the "Capitol Yards" lineup, 909 New Jersey and the Axiom at 100 I Street, the completion of a pending deal that I first wrote about in January. However, back then, residents in Axiom's sibling, the Jefferson at 70 I, were also notified that their building was under contract, but that deal apparently didn't complete with the other two. The 448-unit Jefferson was the priciest of the three offers, at about $165 million, compared to about $94 million for the 245-unit Axiom and $95 million for the 237-unit 909.
Did the Jefferson's residents go out back with metal detectors and find the $165 million needed to purchase the property themselves? Or are there a few more i's to dot and t's to cross to finish the deal? Or is something else afoot?
In the 100 I and 909 New Jersey sales, the buyers are "institutional investors advised by J.P. Morgan Asset Management."
The three buildings were completed by JPI back in 2008 and 2009, but the recession hit the company hard and eventually two of its executives boltered to partner with folks from Akridge to form the Jefferson Apartment Group. But 70/100/909 apparently remained part of JPI's holdings, as did the empty lot at 23 I Street where JPI's fourth apartment building had been planned, until it was foreclosed upon and picked up by Ruben Companies in late 2009. The three buildings, completed in 2008 and 2009, have been managed by Greystar ever since JPI sold its property management division to the company.
UPDATE: I'm hearing chatter that residents of 70 I did form a tenant association to attempt to buy the building themselves, which then adds some additional time to the deal to allow the residents to find financing to match the initial offer. Anyone from the building want to chime in?
Comments (1)
 
 More About 70/100 I

JDLand.com Home

Comments

Alan says: (5/2/12 11:41 AM)
A tenant association was formed at 70 I St with the help/prodding/urging of a law firm (Venable, I believe) and there were near-weekly meetings urging residents to join the association and then...nothing. There was a notice posted about electing officers but that meeting was held at the law firm and it's been silence ever since.

Add a Comment:

Comments are closed for this post.

JDLand Comments RSS Feed

See All Current News Items | Full Blog Archive

 
 Top News
  
Tell readers about your apartment/house/item
for two weeks for $5.
Someone's looking for
what you're selling!
List it here.
Recent Comments:  
MJM on Community Center Groundbreaking: Too bad the new name wasn't a reflection of the area rather a housing development but guess it is a ...
JD on Community Center Groundbreaking: (And by the way, I've seen all those stories, and many more--it's the writing about them that I just...
ZoolanderANDtheBoYz on Community Center Groundbreaking: @JD, surgical bills-- no. Narcotics - a brother can hook you up with that.
conngs0 on Community Center Groundbreaking: Nice rendering. It even captures my future Audi R8 driving up the street! Seriously though, I thin...



City Government Data for Near Southeast Records added or updated recently displayed here; click the "archive" links to see additional detail and older records. All data from DC Government databases and RSS feeds. JDLand takes no responsibility for errors, omissions, etc. (read CapStat disclaimer). Data is retrieved daily.

Recent Crime Incidents Archive  
M ST SE AND HALF ST SE   ROBBERY /  08/17/14
800 B/O VIRGINIA AVE SE   THEFT F/AUTO /  08/17/14
M ST SE AND 5TH ST SE   THEFT F/AUTO /  08/15/14
1400 B/O 1ST ST SE   THEFT F/AUTO /  08/14/14
1000 B/O 1ST ST SE   BURGLARY /  08/12/14
800 B/O L ST SE   THEFT F/AUTO /  08/11/14
HALF ST SE AND L ST SE   THEFT F/AUTO /  08/11/14
1000 B/O NEW JERSEY AVE SE   THEFT /  08/07/14
1100 B/O 10TH ST SE   THEFT /  08/07/14
70 B/O I ST SE   THEFT /  08/02/14
100 B/O K ST SE   THEFT F/AUTO /  08/01/14
200 B/O L ST SE   THEFT F/AUTO /  07/30/14
L ST SE AND 2ND ST SE   THEFT F/AUTO /  07/30/14
70 B/O I ST SE   MOTOR VEHICLE THEFT /  07/29/14
70 B/O I ST SE   THEFT /  07/29/14
1100 B/O NEW JERSEY AVE SE   THEFT /  07/28/14
400 B/O K ST SE   THEFT /  07/24/14

Active Public Space Permits Archive  
1011 1ST ST SE    Pepco Holdings Inc 
Issued
excavation; new  
 06/26/14
to
08/26/14
1331 2ND ST SE    Carlton Ray 
Assigned
paving; streetfixture; excavation  
 02/10/14
to
02/09/15
908 3RD ST SE    Rachel Frankel 
Issued
streetfixture; new  
 07/24/14
to
09/21/14
1026 3RD ST SE    Wash Gas & Light Co. 
Issued
excavation; new  
 06/26/14
to
09/04/14
1331 4TH ST SE    Forest City Forest City 
Issued
excavation; new  
 01/10/14
to
02/10/15
913 5TH ST SE    Wash Gas & Light Co. 
Issued
excavation; new  
 06/26/14
to
08/28/14
1100 - 1199 BLOCK 1ST ST SE    tom cash 
Issued
excavation; new  
 06/27/14
to
08/25/14
410 M ST SE    Pepco Holdings Inc 
Issued
excavation; new  
 07/11/14
to
09/08/14
880 NEW JERSEY AVE SE    WASHINGTON GAS 
Issued
excavation; new  
 07/28/14
to
09/26/14
301 TINGEY ST SE    Potbelly Sandwich Works LLC 
Issued
new  
 03/21/12
to
11/27/14

Recent Issued Building Permits Archive  
1011 1ST ST SE   
08/06/14 
TOLL DC LP / MITCH A. PERMUY
E1407892 / SUPPLEMENTAL
   
08/11/14 
TOLL DC LP / ALBERT J. PEARCE
FB1400108 / SUPPLEMENTAL
1259 1ST ST SE   
08/11/14 
CAPITAL RIVERFRONT HOTEL LLC / CAPITAL RIVERFR HOTEL LLC
AH1400636 / CONSTRUCTION
AFTER HOURS FOR PERMIT NUMBER B1401471 FOR 8 / 12 THROUGH 9 / 11 FROM 5AM TO 7PM MONDAY THROUGH SATURDAY.
1212 4TH ST SE   
08/07/14 
TAKOREAN / FVI 2020
B1410615 / CONSTRUCTION
REVISION TO TL1400052 TO INCLUDE OUTDOOR SUMMER GARDEN WITH 14 SEATS AND 7 TABLES.
1201 4TH ST SE   
08/12/14 
JBG/FEDERAL CENTER LIC / JIM CALABRESE
AN1400129 / CONSTRUCTION
PLEASE EXTEND PERMIT AN1300174 THIS IS THE FIRST EXTENSION AND PERMIT WILL BE VALID UNTIL 1 / 31 / 2015.
1212 4TH ST SE   
08/05/14 
FC 1212 LLC / THE YARDS
TL1400165 / CONSTRUCTION
FIRST TIME TENANT LAYOUT FOR NEW MANAGEMENT OFFICE 2ND FLOOR TOTAL OF 780 SQ FT RENOVATION LIMIT TO MECHANICAL ELECTRIC AND FIRE LIFE SAFETY ONLY
1331 4TH ST SE   
08/14/14 
F. C. 1331 LLC / FVI 2020
B1402843 / CONSTRUCTION
CONSTRUCTION OF A BRAND NEW 11 STORY BUILDING. THE BUILDING IN TOTAL IS 350 000 SQ FT. ADDING 327 RESIDENTIAL RENTAL UNITS 20 000 SQ FT. IN COMMERCIAL SPACE AND 3 BELOW GRADE PARKING LEVELS.
   
08/15/14 
CLARK CONCRETE
AH1400650 / CONSTRUCTION
AFTER HOURS TO POUR CONCRETE ON JOBSITE FROM 7AM TO 7PM FROM SUNDAY TO SATURDAY 8 / 15 / 2014 TO 11 / 15 / 2014
1000 5TH ST SE   
08/07/14 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / KIM MITCHELL CDKM CONSULTING LLC
FD1400029 / CONSTRUCTION
FOUNDATION TO GRADE TO INCLUDE UTILITIES
   
08/13/14 
UNITED STATES OF AMERICA /
FD1400132 / CONSTRUCTION
NEW FOUNDATION TO GRADE PERMIT FOR NEW COMMUNITY CENTER INCLUDING UTILITIES. REVISION TO FD1400029 TO REVISE STRUCTURAL DETAILS OF COLUMS.
   
08/20/14 
UNITED STATES OF AMERICA / BRUCE G. PICKETT
E1408304 / SUPPLEMENTAL
1015 HALF ST SE   
08/12/14 
HALF ST SE LLC / SAM HOLLEN RAMCO OF DC INC.
TL1400162 / CONSTRUCTION
INTERIOR TENANT LAYOUT OF 1ST FLOOR PERFORMANCE STUDIO SPACE AND OFFICE SPACE. PARTITIONS FURNITURE MECHANICAL ELECTRICAL AND LIFE SAFETY. CBS
   
08/15/14 
HALF ST SE LLC / ROBERT L HUNTER
M1402951 / SUPPLEMENTAL
   
08/16/14 
SAM HOLLEN / DONALD VEALS; SAM HOLLEN; DONALD VEALS
E83010192 / SUPPLEMENTAL
200 I ST SE   
08/08/14 
DANIEL RILEY / OMAR BIAGAS; DANIEL RILEY; JOHN BIAGAS
E47247428 / SUPPLEMENTAL
41 L ST SE   
08/20/14 
WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY (WMATA) / SAMIR ALQUTRI - GEOTECHNICAL SOLUTIONS INC.
SB1400402 / CONSTRUCTION
GSI PLANS TO DRILL 4 SOIL TEST BORINGS TO CONFIRM SOIL STRENGTH WITH A HOLLOW-STEM AUGER EQUIPPED WITH A SPLIT SPOON SAMPLER FOR THE SPT N-VALUE TESTS DOWN TO A MAXIMUM DEPTH OF 80 FEET BELOW EXISTING GRADES. ALL BORINGS WILL BE DRILLED TO THE MAXIMUM DEPTH OR AUGER REFUSAL WHICHEVER OCCURS FIRST. THE BORE HOLES DIMENSION WILL BE 3.25 INCHES AND SHALL BE GROUTED UPON COMPLETION.
601 L ST SE   
08/06/14 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / JOSEPH M MAGNOLIA
P1407161 / SUPPLEMENTAL
20 M ST SE   
08/06/14 
SOUTHEAST REALTY LLC /
P1407613 / SUPPLEMENTAL
100 M ST SE   
08/06/14 
SQUARE 743 INC /
P1407610 / SUPPLEMENTAL
   
08/16/14 
NORTHWOOD INVESTERS LLC / STANLEY HUBBARD; NORTHWOOD INVESTERS LLC; STANLEY HUBBARD
E14516088 / SUPPLEMENTAL
901 M ST SE   
08/14/14 
CARLTON RAY
AH1400642 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
1201 M ST SE   
08/14/14 
CARLTON RAY
AH1400641 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
1111 NEW JERSEY AVE SE   
08/12/14 
NJA ASSOCIATES LLC / COLIN CLARK
B1308085 / CONSTRUCTION
CONSTRUCT A NEW 13 STORY APARTMENT BUILDING WITH THREE BELOW GRADE PARKING LEVELS FIRST FLOOR RETAIL A PRIVATE SWIMMING POOL PROJECTIONS OF BAY WINDOWS 324 UNITS TO INCLUDE MECHANICAL PLUMBING ELECTRICAL AND ELEVATOR WORK.
1500 SOUTH CAPITOL ST SE   
08/04/14 
LIVE NATION / DAVID VEGA
AH1400629 / CONSTRUCTION
TO CLOSE OFF STREETS FOR LOADING AND UNLOADING OF STADIUM EVENTS 7PM - 7AM
300 TINGEY ST SE   
08/05/14 
FC BOILERMAKER LLC / PHILLIP B MOBLEY
M1402818 / SUPPLEMENTAL
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

Real Property Sales Archive  
No commercial transaction records added or modified in the past two weeks.


Project Directory




Blog/Home
Project Directory
Photo Archive
Event Photos
 
Nats Park
Food Map
What's New
History

 
Demolished Buildings
Historic Photos
Satellite Images
Timeline
 
About JDLand
Message JD
Advertise
Photo Use
 
     © Copyright 2014 JD.