Greysteel, a national commercial real estate investment services firm, has arranged the sale of the Norfolk Ocean View Portfolio, a 104-unit, nine property multifamily portfolio located in the Ocean View neighborhood of Norfolk, Virginia. Greysteel Director Rawles M. Wilcox and Investment Associate Jared Emery from the firm’s Norfolk, VA office negotiated the $7.625M transaction on behalf of the seller Boardwalk Realty & Development and the out-of-state buyer, Brick Lane Real Estate.
HFF worked on behalf of the borrower, Brick Lane and Red Starr Investments, to secure the 10-year, fixed-rate acquisition loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
The Helicopter Factory just set a record. A unit in the historic Pleasant Plains building at 770-774 Girard St. NW went for $2.3 million in a deal announced Tuesday, the most expensive to close for the project and the highest price in the neighborhood’s history.
Today, Lead Developer Brick Lane and partner, Brook Rose Development confirmed the sale of Unit 7W in the Warehouse portion of The Helicopter Factory. The Helicopter Factory is a 28,000 SF two-pronged residential development comprised of a 7,600 SF warehouse converted to two (5,100 SF and 2,500 SF) residences and 13 industrial-style luxury condominiums at 770-774 Girard Street, in NW Washington. Unit 7W appraised and closed today at $2,300,000.
Columbia Heights has been one of the District’s hottest post-recession residential real estate markets, and the sale of a Girard Street condo just set a record for the neighborhood — by a long shot.Unit 7W, a 4,700-square-foot condo at the redeveloped The Helicopter Factory, has closed for $2.3 million, according to developer Brick Lane and partner Brook Rose Development.
A condo that delivered earlier this year is setting records in Columbia Heights.The largest residence at the Helicopter Factory listed for $2.5 million — the highest price ever for a condo in Columbia Heights — has gone under contract.
If you’ve ever imagined taking flight in a spaceship or rocket or hot-air balloon but couldn’t really get going, you probably weren’t in a spot conducive to creative travel. But if you moved to the Helicopter Factory you’d be in dreamland right away.