1602 L Street offers a range of Investment Options, from Office to Residential conversion
Built in 2007, 1602 L Street is the finest boutique office building in Washington, DC, receiving the NAIOP Award of Excellence, Best High-Rise. The building offers a stunning façade, floor to ceiling glass lines on three (3) sides, parking, and state of the art building systems.
The property is located just off 16th Street, the Avenue of the Presidents, one of Washington, DC’s most beautiful and venerated boulevards.
Investment Highlights.
The Property
- Stunning, Class A building in a Class A neighborhood
- 2007 construction, state of the art systems, and energy management
- 22 managed parking spaces
- Three sides of glass , with floor-to-ceiling glass along L Street
- 8’6” finished ceiling heights throughout
- Highly functional floor design which breaks efficiently for multiple tenants or multifamily redesign
- Exceptional conversion opportunity to residential or hospitality use
LOCATION, LOCATION, LOCATION
- Heart of the CBD off 16th Street and only two blocks from Lafayette Square and the White House
- Walker's Paradise score of 97
- Proximate to nearby hotels and restaurants
- Rider's Paradise score of 100
- 2 short blocks to two Metro stations (Red, Blue, Orange and Silver lines)
- 5 blocks to 14th Street retail (10-minute walk to Whole Foods) and 5 blocks to Dupont Circle
- Easily accessible for commuters throughout DC, Montgomery County, and Northern Virginia
- 88 Very Bikeable
Premier Market and Demographics
- Historically strongest office submarket in Washington, DC
- Currently one of Washington’s premier residential rental and condo submarkets
- Superior demographics and conveniently located among Washington’s most high profile government and private employment centers
- Nearby condominium pricing achieving record pricing
INVESTMENT OPPORTUNITY
- Property offers a range of investment options:
- As Office:
- Reposition and release to commercial office tenants capitalizing on property’s singular location and ability to offer smaller tenants full floor identity.
- Rare opportunity for organization seeking to own state of the art building for its own occupancy.
- Offered at substantially below replacement cost
- As a conversion to Residential:
- Superb and unique downtown location
- Efficient floor plates offering a range of unit programming
- Boutique property reducing either lease up or outsales risk
- Limited supply of both rental and for sale product in immediate area
- Existing tenancy offers a meaningful head start to repositioning or as carry during entitlement and planning.
Property Details
ADDRESS
1602 L Street NW, Washington, DC, 20036
SITE ACREAGE
0.14 Acres
RENTABLE AREA
52,498 SF
CONSTRUCTION DATE
2006-2007
STORIES
9 Above Grade | 1 Below
TYPICAL FLOOR AREA
6,004 SF
ELEVATORS
2 (3,500 lb capacity per)
FIRE & SAFETY SYSTEMS
100% Sprinklered
Gallery
Contact Us
berkadia Office
Berkadia & WLS Team
INVESTMENT SALES
PAUL HANAFIN
Managing Director
240.396.1082
paul.hanafin@berkadia.com
JOSH WISENHUNT
WLS, Vice President
202.835.7227
jwhisenhunt@wlsrealty.com
ERIC WEST
WLS, Co-Founder/Principle
202.8353652
ewest@wlsrealty.com
MORTGAGE BANKING
J. TYLER BLUE
Senior Managing Director
240.204.5134
jtyler.blue@berkadia.com
PAUL WALLACE
Managing Director
240.204.5135
paul.wallace@berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
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