What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
DCmud: Bad News for Buyers at The Floridian
Current owners and prospective buyers at The Floridian received some bad news recently. DCmud is reporting that tenants were told that they would not be able to settle on their units until a lawsuit and lien involving one of the lenders were resolved.
The 118-unit development consists of two eight-story towers at 919 and 929 Florida Avenue NW in the U Street Corridor (see map here). Sales began back in October 2005, and although the sales team is touting a 50 percent occupancy rate, DCmud notes that city records show that only 29 sales have been recorded.
Here is a quote from a representative of Urban Land Company, the sales and marketing team for the project:
“The situation is that the seller, about three weeks ago, disclosed to all of our potential purchasers and [current] owners that he is having an issue with the lender and hopes to get it resolved within – what he said at the time – a month, but that he couldn’t be certain. So, we’ve been working with anyone who is under contract and new potential buyers and telling them that information,” said Gerard DiRuggiero of Urban Land Company.
See other articles related to: dclofts
This article originally published at https://dc.urbanturf.com/articles/blog/dcmud_bad_news_for_buyers_at_the_floridian/1007.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Today, UrbanTurf is examining one of our favorite metrics regarding competition in th... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- The 6 Places In The DC Area Where You Aren't The Only One Bidding On a Home
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro