Site of Proposed Georgetown Water Street Condos Hits the Market for $15 Million
Over two years ago, IBG Partners and Wilco Residential applied for concept review of a proposal to add 54 luxury condos to the industrial-retail buildings at 3401 Water Street NW in Georgetown (map). Now, it seems those plans are up in the air.
AMR Commercial is currently marketing the property for sale on behalf of the Whitehurst Association LTD Partnership. Hitting the market for $15 million, the 29,150 square-foot building currently houses The Berliner beer hall, convenience store Go Puff, and live music venue Gypsy Sally’s.
The previously-approved development, designed by BBGM, would have partially demolished the existing structure while adding four stories and a penthouse, along with 34 below-grade parking spaces accessible by car elevator.
story continues below
loading...story continues above
While approval for the condo development by the Commission of Fine Arts is still valid as of an extension applied for last month, the project is also being marketed as an equally worthy investment or owner-occupant opportunity.
"Georgetown has excellent demand for residential condominiums/apartments and hotel properties, which have sold in the immediate area for record prices in recent years," the marketing material reads. "Additionally, due to the historic nature of the Georgetown submarket, there are very few opportunities for redevelopment at all, let alone with scale."
It is unclear why the building owner is selling or why the mixed-use condo development did not move forward, although the January 2017 approval included a directive for additional design refinements.
Note: An earlier version of this article noted that Malmaison was located at 3401 Water Street NW. Georgetown Metropolitan alerted us that The Berliner has taken its place. The price is $15 million, not $50 million.
See other articles related to: amr commercial, bbgm, commission of fine arts, georgetown, georgetown condos, water street
This article originally published at https://dc.urbanturf.com/articles/blog/site-of-proposed-water-street-condos-hits-the-market/15008.
Most Popular... This Week • Last 30 Days • Ever
Back in 2022, the DC Zoning Commission gave the green light to a large mixed-use deve... read »
Opening for sales this spring, The Brownstones at Westbard Square will feature 101 ne... read »
Donohoe presented plans on Thursday evening for a new multi-family residential projec... read »
Even with two large apartment buildings delivering in Northern Virginia's National L... read »
The main story for the DC region's housing market in February was the supply of homes... read »
- Raze Application Looks To Pave Way For 700-Unit Development in Brookland
- Coming Soon: New EYA Brownstones at Westbard Square in Bethesda
- Early Plans Unveiled For 130-Unit Development in Friendship Heights
- 3 Down, 7 To Go: A Look At The Thousands of Units Coming to National Landing
- The Return of Supply And Four Other Interesting Stats From The February Housing Market
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