Wednesday, June 6, 2012

Southwest For Sale!


According to an article in last week's Real Estate Bisnow, Channel Square Apartments is currently being marketed by commercial real estate brokerage firm CBRE. Channel Square is a collection of 75 garden-style apartments and townhouses and a 203-unit high-rise located along 4th Street between O & P Streets. This would be the fourth apartment building in the quadrant put up for sale over the past few months. The brokers are also working on Capitol Park Towers, while the Capitol Park Associates ownership group wants to sell the remaining 5% interest it holds at Capitol Park Twin Towers and Capitol Park Plaza.


Renovations were recently done on the complex, which was the scene of a bribery scandal with two DC government employees from the Department of the Environment.  The DC employees wanted $20k in bribes from the contractors who were doing renovations at the property claiming there were asbestos issues that would cost $280k - $300k in fines.

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