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Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 1915 Benning Road NE, a nine-unit multifamily property in the Kingman Park neighborhood of Washington, D.C..
“Our team ran an aggressive marketing process to create a competitive bidding environment which ultimately resulted in multiple bids and a successful sales process,” said John Slowinski, associate. “The deal presented a unique opportunity to purchase a new- build asset below replacement cost and less than a mile from the future RFK Stadium site. It was necessary to focus on this narrative to shed the best light on the property regardless of its distressed status. This is one of many examples of our team’s unique ability to create results in the distressed asset sector of the market.”
Slowinski, Andrew Pacious, Ryan Murray and Marty Zupancic investment specialists in Marcus & Millichap’s Washington D.C. office, had the exclusive listing to market the property on behalf of the sellers, Srinivas Chivali and Kranthi Dudam, and procured the buyer, John Solomond.
Completed in 2023, 1915 Benning Road NE offers nine luxury condominium units, including one one-bedroom and eight two-bedroom layouts, totaling 8,240 square feet. The property is located near Union Market, the H Street Corridor and the RFK Stadium redevelopment in one of Northeast D.C.’s fastest-growing neighborhoods.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
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Marcus & Millichap is the nation’s largest brokerage firm focused exclusively on investment sales. It is based on a simple premise: matching each property with the largest pool of pre-qualified investors. With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research, and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more about the company, please visit www.MarcusMillichap.com.