208-Unit Rittenhouse Apartments for Sale
The Rittenhouse Apartments building at 6101 16th St NW has been placed up for sale. The 208-unit multifamily community has amenities like a resort-style swimming pool and a business center.
Greysteel has been retained as the agent and adviser for the sale. Greysteel senior director John Mullen notes that properties of similar age and size have achieved rents that are 25% higher, and the building is ripe for a value-add play, which is all the rage in DC right now.
The property is across the street from Rock Creek Golf Course and with the biggest floor plans in the submarket, according to Greysteel, its redevelopment should come equipped with an in-house caddy. [MHN]