37 Units | 3,800 Sqft Commercial Mixed-Use Development Project
The Investment: Construction of a 37 unit multifamily project + Commercial Area
The Property: 37 Units comprised of 5 floors + 3,800 Sqft Commercial Area
Address: 1200 Bladensburg Road NE, Washington D.C, 20002
Investment Term: Construction period of 18 months and an additional 18 months to exit
Finance: Local bank loan of up to $11,600,000 at 4.5% interest rate
Developer Equity: The developer is committed to investing up to 30% of the total equity
Magenta – Washington DC – Investment Highlight
The project will offer a unique and unprecedented design in the capital, the craft of architecture and interior design has been personally entrusted to the super designer Karim Rashid and the collaboration of 3 international firms. The design emphasizes a smart and modern building that will address the urban lifestyle of the target audience without compromising on a unique design and living experience and at lower than average prices in the city.
The mix of apartments includes about 21 one\one apartments, 9 one\one apartments + “Dan”, 7 two\two apartments, and a commercial floor with a size of about 3,800 square feet, the total project size is 34,945 square feet spread over 5 floors, including a penthouse floor.
The instrumentation package is especially rich and offers a variety of original accessories from the creator of Karim Rashid.