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Greystar Under Contract To Buy 1M SF Capitol Riverfront Development Site

An aerial view with the 7.3-acre CSX development site shaded yellow

A 7.3-acre development site in one of D.C.'s fastest-growing neighborhoods has found a buyer. 

South Carolina-based multifamily developer Greystar is under contract to acquire the CSX site at 861 New Jersey Ave. SE, the Washington Business Journal reports. A source confirmed the deal to Bisnow

Freight rail operator CSX retained CBRE in September to seek buyers for the site, boasting that it has the potential to support more than 1M SF of development. CBRE and Greystar declined to comment. 

The Capitol Riverfront site is on both sides of Interstate 695, between South Capitol Street and New Jersey Avenue. Next door, Greystar developed the Ore 82 apartments with RCP Development Co. Across the street, Whole Foods is preparing to open at WC Smith's The Collective development.