Next Realty Acquires Washington D.C. Parking Garage

CHICAGO (March, 2019)An affiliate of Next Realty, LLC is pleased to announce the acquisition of the transient parking portion of the Metropole Condominium Garage located at 1515 15th Street NW, Washington, D.C.  The purchase price for Metropole Condominium Garage was not disclosed.

The property is located below The Metropole Condominium Complex. The dynamic, mixed-use project containing 90 luxury condos also includes a parking component that is deeded to owners of units in the complex.

The Metropole was developed in 2008 and features modern loft-style units, private terraces and fireplaces. Additional amenities of the development include VIDA Fitness and Bang Salon, TD Bank, Blue Bottle Coffee and SweetGreen Restaurant.

“The property benefits from a prime location in one of the premier neighborhoods of Washington D.C. It is uniquely positioned as one of the only transient parking garages near the 14th Street Corridor. As the area continues to densify, the property should continue to be highly desirable.” says Michael Nichols, President, Next Parking.

The 14th Street Corridor is known as one of Washington D.C.’s most desirable neighborhoods, featuring unique single-family and multi-family residences, as well as a high concentration of destination restaurants and nightlife including Le Diplomat, Hanks Oyster Bar and Barcelona Wine Bar, among numerous others.

“Next Realty has operated in the Washington, D.C. area for 20 years and we are excited for this addition to our portfolio.” Eteri Zaslavsky, Managing Director, Next Realty

The acquisition was financed by Wintrust Bank.