Somerset House

Washington, D.C.
About

Republic Land acquired this long-time Washington, D.C. rental property, located just blocks from the White House on 16th Street. The building is a Classic Beaux Arts-style structure, originally built in the 1920s, and consisting of 84 units. Republic staged the property for conversion into condominium ownership prior to selling it to another developer to execute in 2008 at a substantial profit. Republic retained an equity position in the purchasing entity and assisted them in securing financing for the conversion in 2013.

* All projects for development are expressed at original cost and do not represent fair market value.

Information
$
Project Cost
$5 Million*
Year Completed
2003