What's Hot: Barnes and Noble Will Return to Georgetown in June | The 3,000 Units On The Boards From Trinidad to Gallaudet
JBG Smith Acquires McDonalds Parcel Along New York Avenue for $17.4 Million
JBG Smith continues to make Northeast DC a part of its long-term plans in the city.
The firm acquired 75 New York Avenue NE for $17.4 million last week, JBG Smith representatives told UrbanTurf. (JBG Smith disputes the $30 million price listed in city records.) The site is currently home to a McDonalds restaurant.
"We have had an option on the site for many years, and decided to exercise that option," JBG Smith principal Andy Van Horn told UrbanTurf late last week.
story continues below
loading...story continues above
There are no plans for the site at the moment, but Van Horn said that they will get to work on concepts in the near future. McDonalds has a flexible lease on the site.
The acquisition of 75 New York Avenue NE adds to JBG Smith's presence in this section of DC. The developer has previously proposed an office building for the adjacent site at 1300 First Street NE, and across N Street, the firm and Brandywine Realty Trust are at work on Lacebark Alley, a project that includes two office buildings and a 208-unit residential building.
This article originally published at https://dc.urbanturf.com/articles/blog/jbg-smith-acquires-mcdonalds-parcel-along-new-york-avenue-for-174-million/13807.
Most Popular... This Week • Last 30 Days • Ever
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The Gen Z market; ranking food halls around DC; and is this the new king of Queens?... read »
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
The term "luxury" has been applied broadly in the housing market, but a new report ai... read »
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