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
The 20012 zip code -- home to neighborhoods including Takoma, Colonial Village and Sh... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Plans recently filed with DC's Historic Preservation Office (HPO) outline plans for a... read »
As a homeowner, it's important to understand the types of insurance you need to prote... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- Is This Zip Code One Of DC's Busiest Housing Markets?
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- Raising Canes Opening M Street Location in Georgetown
- What Types of Insurance Do You Need When You Own a Home?
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
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