The Pierce School
For the ambitious investor, the fully-occupied and ambitiously transformed Pierce School lofts are listed for sale again. This property has been an UrbanTurf favorite in recent years as it has been on and off the market.
Jeff Printz and Chris Swanson purchased the rundown and rodent-infested former Pierce School at 1375 Maryland Avenue NE (map) in 2000 for only $275,000.
The home office for the main unit.
Four years of extensive repairs and renovations followed and the resulting product is an 8-unit residential property, including a massive 9,500 square-foot loft that occupies the top floors with amenities that include a 14-person movie theater (the seats came from the first class section of an old airplane) and an 800 square-foot roof deck.
The main living room
The bones of the school resulted in huge former classrooms being transformed into living spaces with ceilings as high as 32 feet. Chalkboards and some lockers in the main loft unit were also preserved and restored.
Despite the wow factor offered by the property, it has had a tough time finding a buyer in recent years and is back on the market for $7.25 million with John Coplen of Evers & Company Real Estate, Inc. All of the units in the building are currently occupied, meaning that any new owner would assume control of those leases. Building amenities include a rear courtyard with a heated black-bottom pool, fitness center, spa, and outdoor fireplace.
One of the loft rentals
The kitchen in the owner’s unit.
The home theater
The building’s black bottom pool
Photos courtesy of Home Visit.
This article originally published at http://dc.urbanturf.com/articles/blog/the_pierce_school_lofts_are_back_on_the_market/11673
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