This Morning at the Four Seasons
In launching our brand-new DC Morning Brief (which you should have received a little earlier), our friends at EagleBank hosted a panel featuring condo guru Lynn Hackney of UrbanPace, EagleBank CEO Ron Paul, and MRP Realty's Bob Murphy. Lynn says UrbanPace has just sold out of condos it was marketing at The Montrose in Georgetown, with some units trading at a whopping $980/SF. On the office side, Bob says to expect lots of leasing activity from tech companies that aren't dependent on the government, since federal activity remains sluggish.
FD Stonewater's Andrew Schwartzman, EagleBank's Larry Bensignor and Dan Swanson, and Bristol Capital Corp's David Sislen. Lynn says condo prices are hitting highs in emerging neighborhoods too; her team has sold units at a project off H Street NE for figures upwards of $615/SF.
We snapped legendary Guiseppe Cecchi (right), developer of iconic projects such as the Watergate complex. (Didn't you sort of assume the Watergate was always there? It's where Nixon spied on the DNC and Washington spied on the Redcoats.) He's with Alan Drewer, who oversees real estate lending for Virginia Heritage Bank, which EagleBank just announced it's purchasing for $189M. Ron says the deal will close by the end of the year.