Latham Hotel. Google Street View.
New York City-based Thor Equities is under contract to acquire the Latham Hotel property at 3000 M Street NW (map) for around $53 million, according to a press release. Thor tells UrbanTurf that the plans for the Georgetown site will likely be residences or a hotel or some combination of those two concepts.
SB-Urban decided to put the hotel up for sale earlier this summer, nixing plans to redevelop the property into a micro-unit project with 140 furnished residences.
The redevelopment of the Latham Hotel was one of three furnished micro-unit projects that SB-Urban had on the boards for DC. The plans for the Patterson Mansion in Dupont Circle and a micro-unit project in Blagden Alley are still moving ahead, according to the developer.
Thor Equities will also redevelop the retail portion of the site along M Street NW. The firm will likely close on the project in the coming weeks.
This article originally published at http://dc.urbanturf.com/articles/blog/nyc_developer_buys_georgetowns_latham_hotel_plans_residential_or_hotel/10318
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