Newmark is offering a versatile property on the Northwest corner of 16th Street and L Street NW for office or residential development.
The 26,881-square-foot building at 1100 16th Street NW is on a prominent corner in the heart of the Central Business District. Built in 1907, the property boasts high ceilings, generous moldings and three sides of light. The property underwent major renovations, including a new addition, in 2008. The building was most recently used as a school and art gallery.
1100 16th Street offers tremendous development potential. It is zoned for multiple uses, including residential, educational and office for non-profits, associations and professional firms.
Newmark Principal Lisa Benjamin is exclusively marketing the building along with other development sites in the area.
“This property offers an unparalleled opportunity for the right developer,” says Benjamin. “Its location is unmatched and with SP-2 zoning, an investor can take advantage of what’s most desirable in the market and deliver a project, whether multifamily, institutional or office, that maximizes the return.”
About Newmark
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.