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Mr. Songy Goes To Washington

WASHINGTON DC 04.27.2017

FEDERAL MARKETS & REAL PROPERTIES

A New President & GSA: What Does That Mean For You?

Norman Dong -- U.S. General Services Administration (GSA)
Tom Finan -- Trammell Crow Company
Bruce Childs -- USAA Real Estate
Mr. Songy Goes To Washington

songy dc

Songy Partners' David Songy is finally making a mark in DC after 10 years of trying. Our sister pub was first to report that Songy is purchasing 1522 K St, an  81k SF empty office building,  for $21.5M and transforming it into a hotel. We caught up with David yesterday: "We like the fundamental real estate aspect of the [DC] market...supply and demand constraints are in balance." Plus, David says, there's international demand in DC among investors, which means redeveloping the property, if successful, could fetch a high price. David says they're in talks with "several major nationally known flags" for the 160-room select service hotel.