{"id":1004373269,"date":"2019-12-05T02:36:32","date_gmt":"2019-12-05T10:36:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004373269"},"modified":"2025-02-18T05:38:00","modified_gmt":"2025-02-18T13:38:00","slug":"dc-office-building-trades-for-23m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/","title":{"rendered":"DC Office Building Trades for $23M"},"content":{"rendered":"
\"\"<\/a>

1818 NE New York Ave. Image courtesy of Greysteel<\/em><\/p><\/div>\n

Choi Cos. has sold a 90,000-square-foot office building in northeast Washington, D.C., for $23.3 million to private investor Kim Myung. According to Yardi Matrix, the buyer secured a $15.6 million permanent loan for the acquisition, from Wilmington Savings Fund Society. Greysteel arranged the transaction.<\/p>\n

Located at 1818 NE New York Ave., the two-story asset sits on 3 acres and is directly across the street from the Douglas Development\u2019s NewCityDC redevelopment project<\/a>. The Class B property is roughly 4 miles from downtown D.C. and 8 miles from Ronald Reagan Washington National Airport.<\/p>\n

Built in 1937 as an industrial property, the structure was converted into an office building in 1995 and renovated in 2005. The multi-tenant asset features retail space on the first floor and 143 grade-level parking spaces, with a parking ratio of 1.61 spaces per 1,000 square feet. The tenant roster includes A Digital Solutions, Life Enchantment Services, Aqua Bar and Lounge, First Choice Masonry and Hugee Corp., among others.<\/p>\n

The transaction team was led by Greysteel Director Benjamin Wilson and Investment Associate David Choi from the firm\u2019s D.C. commercial team.<\/p>\n","protected":false},"excerpt":{"rendered":"

Choi Cos. sold the 90,000-square-foot property, which is directly across the street from Douglas Development\u2019s 17-acre New City D.C. redevelopment project.<\/p>\n","protected":false},"author":868,"featured_media":1004373278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21742,21747,1615],"tags":[35578,34296],"class_list":["post-1004373269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-latest","category-office","category-washington-dc","tag-douglas-development-corporation","tag-greysteel"],"acf":[],"yoast_head":"\nDC Office Building Trades for $23M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DC Office Building Trades for $23M\" \/>\n<meta property=\"og:description\" content=\"Choi Cos. sold the 90,000-square-foot property, which is directly across the street from Douglas Development\u2019s 17-acre New City D.C. redevelopment project.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-05T10:36:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-18T13:38:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/1818-New-York-Avenue.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4032\" \/>\n\t<meta property=\"og:image:height\" content=\"3024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sergiu Inizian\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/\",\"name\":\"DC Office Building Trades for $23M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/1818-New-York-Avenue.jpg\",\"datePublished\":\"2019-12-05T10:36:32+00:00\",\"dateModified\":\"2025-02-18T13:38:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/77efc8abfd11ea13ed9ee7a0e190eb2a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dc-office-building-trades-for-23m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/1818-New-York-Avenue.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/1818-New-York-Avenue.jpg\",\"width\":4032,\"height\":3024,\"caption\":\"1818 N.E. 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