1237-1239 Rear C Street SE
Shortly before Thanksgiving, UrbanTurf reported on a red brick warehouse on Capitol Hill (map) that had been listed for sale and figured to be an interesting opportunity for the eventual buyer. UrbanTurf has learned that the sale of the property closed last week for $480,000, and that the new owner plans to build either 1-2 large lofts in the space.
More from listing agent Joel Nelson on the chronology of the sale:
When the property was listed, there was much outside speculation about the potential complexities of a future conversion, much of it based on incomplete information. Multiple offers were received, and a contract was ratified well above the list price of $450,000. The first contract buyer recognized after the fact that the historic district location would require a sensitive scale and thoughtful design for adaptive reuse, and determined he was not prepared to take on the project. The property was re-listed in January for $499,000, and after some discussion the sellers signed a contract with one of the original runner-up buyers – a developer who has already held preliminary discussions with DC historic preservation officials, utility companies, and other key parties .
The red brick warehouse was built in the 1890s and is located at 1237-1239 Rear C Street SE, in an alley recently dubbed Adolph Cluss Court. Aside from a solid-brick partition wall and a few loft storage spaces, the interior is largely empty. A previous owner used it to store classic cars and furniture.
The property is zoned R-4, which means that the site can be used for single-family residential uses (including detached, semi-detached, row dwellings, and flats) or projects up to six units, depending on the lot size.** Currently the building occupies 1,770 square feet of the 4,350-square foot lot.
**For additional details on R-4 zoning, click here.
This article originally published at http://dc.urbanturf.com/articles/blog/new_lofts_planned_for_capitol_hill_warehouse/6672
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