Greysteel Retained to Market Multifamily Asset in Washington

Neal Garden Apartments is a three-building, 56-unit multifamily property built in 1963.

by Gabriel Culcsar

Neal Garden Apartments, Washington D.C.
Neal Garden Apartments, Washington D.C.

Washington, D.C.Greysteel was selected as exclusive advisor and agent for the sale of Neal Garden Apartments, a multifamily property located in Washington, D.C.

Greysteel Co-Founder Ari Firoozabadi, Senior Director Kyle Tangney, Director Rawles Wilcox,
and Investment Associates Alicia Orkisz and Herbert Schwat of the company’s Washington, D.C. office will market the property on behalf of the seller, Neal Investments Inc.

Completed in 1963, Neal Garden Apartments is situated on a 60,490-square-foot lot and is comprised of three buildings featuring a total of 56-units. The property is located at 15 41 St., NE and 4111, 4117 and 4125 Ames St., NE. Its location provides easy access to East Capitol Street, Benning Road, Minnesota Avenue metro stations, and to downtown Washington.

“The superior accessibility to Capitol Hill and Downtown D.C. as well as the proximity to two Metro stations and an existing retail corridor have primed the East Capitol Street, Benning Road, and Northern Minnesota Avenue area for continued expansion and revitalization. As displayed by the current developments underway and a number of investors going long on land, retail, and multifamily opportunities, we anticipate this area of the District to continue appreciating in value over the years,” Tangey, senior director with Greysteel, said in prepared remarks.

Image via Google Maps