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Fahrenheit Building on Georgia Avenue Sells, Will Go Rental

by UrbanTurf Staff

Fahrenheit Building on Georgia Avenue Sells, Will Go Rental: Figure 1
Rendering of Fahrenheit

Fahrenheit, a 31-unit condo building under construction on Georgia Avenue, has sold to Erkiletian Development, a family-run real estate development firm in the DC area. The project, developed by PERS Development, was originally planned as condos, but Erkiletian will deliver the units as rentals this summer.

The final sales price for the project was $14.3 million, a source familiar with the deal confirmed.

The project at 3930 Georgia Avenue NW (map) will have approximately 2,800 square feet of ground-floor retail space when it is complete. It will be located about three blocks north of the Georgia Ave-Petworth Metro Station.

This article originally published at http://dc.urbanturf.com/articles/blog/fahrenheit_condos_on_georgia_avenue_sells_will_go_rental/9711

1 Comment

  1. DC225 said at 12:54 am on Thursday April 2, 2015:
    Why is so much new construction still going rental? It surprises me since the condo market is so hot and rental prices seem to be flattening off with all the new supply on the market.

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