A joint venture between affiliates of Quadrangle Development Corporation and FarmView Ventures announced that it has acquired 1099 New York Avenue, a trophy office building located four blocks from the White House in Washington, D.C., for $95 million.
JLL represented the seller and procured the buyer.
1099 New York Avenue is a 180,878-square-foot, 11-story office building featuring floor-to-ceiling windows, 17,500-square-foot average floor plates and a below-grade parking garage. A planned fitness center and rooftop repositioning project will further enhance the property’s appeal. The building is 95 percent leased to eight tenants with nine years of weighted average remaining lease term.
Located across from the luxury mixed-use CityCenterDC, 1099 New York Avenue sits within the most densely concentrated luxury amenity base in Washington, D.C., offering retail, high-end urban living and premium office space. The property is part of the East End submarket, four
