Monday, December 09, 2013

3109 Martin Luther King. Jr. Ave SE still for sale

If you recall this location was up for auction in early November. It seems that the auction didn't meet the reserve (no idea what that was) so it appears the storefronts are still up for sale. The Remax listing is still up and has been edited to remove mention of the earlier auction. FYI -- according to Remax this is the highest priced listing currently for sale in zip code 20032.

As Housing Complex pointed out in their article about the 4th Street Vistas auction (also in Congress Heights) it makes you wonder about the interest (or lack thereof) by D.C.'s developers in the Congress Heights' real estate market. The 4th Street Vistas were sold for a song and it appears as if 3109 MLK couldn't even get that. No idea what the reserve was for the auction but the asking price now is $1.5 million.

CHotR would love to hear from readers about what they think about the commercial real estate market in Congress Heights. Is this good for the neighborhood because things are less likely to change or we missing out on opportunities for much needed retail and amenities?

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