Project Description
Metropolitan Partnership LTD (“Metropolitan”) has secured the contract rights to purchase the off-market property referred to as 600 E Street, NW,  located in Washington DC. The existing above-grade office building will be demolished, the dedicated 160 space multi-level garage below grade (expandable to 240 spaces with stacking) will remain and a new thirteen story luxury residential multi-family structure will be built on the existing column grid with the introduction of an interior courtyard and penthouse level club room and deck. The development will create 416 new multi-family units, a central landscaped courtyard, storage areas, fitness facility, retail, roof top club room, deck, and ample parking.

Business Plan & Exit
The business plan calls for a 3-year investment term with an estimated ground breaking date 12 months after closing the property followed by a maximum of 24 months to final completion. The intend is to secure, prior to construction completion, an institutional client  to acquire the property before starting the leasing of the units, taking advantage of the large demand in the market for this asset class is this privileged location.