W. Kyle Tangney
Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent for the sale of The Regent, a 37-unit multifamily property, located in Adams Morgan, D.C.
Greysteel President & CEO, Ari Firoozabadi; Managing Director, W. Kyle Tangney and Investment Associate Herbert Schwat, of the Company’s Washington, D.C. office, are marketing the Property.
The Regent located at 2517 Mozart Place, NW, is a 37-unit, four-story building built in 1937 and features a mix of efficiency, one-bedroom and two-bedroom units. The Property is situated squarely in the middle of Adams Morgan, a densely populated neighborhood featuring an eclectic mix of restaurants, offices, shops, grocery stores, and some of the Districts most anticipated developments. This uber-urban setting draws residents seeking a walkable lifestyle and all the amenities the established yet growing neighborhood offers.
The Property has easy access to a many bus line options, including the DC Circulator, providing direct access to the Woodley Park and U Street metro stations, the H route accessing the Washington Hospital Center and NE D.C., and numerous lines along 16th Street NW and 14th Street NW proving easy transit to Downtown Washington and throughout Northwest D.C.
“The Regent offers investors an opportunity to acquire a multifamily asset located squarely in the middle of Adams Morgan which has long been considered a cultural, residential, and commercial hub of Northwest D.C.,” said Mr. Tangney. “The property has benefited from numerous capital improvements to major systems like a boiler replacement and electrical upgrade and with rents lagging market rates new ownership will have the opportunity to substantially grow revenue potential.”
Greysteel is a commercial real estate and capital markets services firm with 11 offices located in New York, NY; Los Angeles, CA; Dallas, TX; Fort Worth, TX; Washington, D.C.; Philadelphia, PA; Phoenix, AZ; Denver, CO; Baltimore, MD and Norfolk, VA. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets. www.greysteel.com.