1899 L St. NW
Development Plans
Introducing 1899 L St. NW, a cornerstone of downtown Washington, D.C.’s historic landscape, poised for a transformation under the stewardship of Taicoon Property Partners. Acquired by Taicoon 1899 L St LLC, this 12-story office building marks a strategic investment in revitalizing a prime location in the heart of the capital.
Constructed in 1978 and spanning 152,500 square feet, 1899 L St. NW has long been a fixture of the city’s skyline. Formerly owned by an affiliate of BlackRock, the property fetched $26.65 million in a transaction facilitated by Matt Pacinelli and Charlie Smiroldo of Stream Realty Partners. This purchase represents a substantial discount from its previous sale price of $43.7 million in 2004, underscoring Taicoon’s strategic approach to acquiring well-positioned assets at compelling values.
“While preserving its esteemed office function, we see significant potential to enhance 1899 L St. NW,” commented Hai Chien Wang, CEO and Co-Founder of Taicoon Property Partners. “This acquisition aligns with our commitment to redefining urban spaces through innovative development.”
The building’s strategic location offers proximity to key government offices, corporate headquarters, and vibrant cultural amenities, making it an ideal hub for modern office environments. Plans include enhancing its existing infrastructure to meet the evolving needs of tenants while maintaining its architectural integrity.
Taicoon Property Partners, led by Wang’s visionary leadership, has built a reputation for creative real estate projects grounded in community engagement and technological innovation. The acquisition was bolstered by a $12 million loan from CTBC Bank Co. Ltd., highlighting confidence in the property’s potential and Taicoon’s robust investment strategy.
“Our goal is to leverage our expertise in revitalizing properties to create a dynamic environment that fosters productivity and collaboration,” Wang added. “We look forward to collaborating with stakeholders to ensure 1899 L St. NW remains a premier destination in downtown D.C.”
As Taicoon Property Partners continues to advance its vision for 1899 L St. NW, stakeholders can anticipate a revitalized office space that honors the building’s legacy while embracing the future of urban workplace dynamics. Stay tuned for updates as this transformation unfolds, promising to set new standards in Washington, D.C.’s commercial real estate landscape.
Leasing Information
1899 L Street, NW is towards the West End of DC, right on Restaurant Row. Parking is available in the building, but it is only 2 blocks from Blue Line Farragut West, or 2 blocks from Red Line Farragut North and has a secured bike room with repair station and lockers.
We are looking to make deals happen, and are focused on improving the common areas and building facade to continue to attract new tenants. This lively building has full-floor options and spec suites, available for lease today.
For leasing information, please contact:
Doug Mueller, Newmark | doug.mueller@nmrk.com | 202-441-1442.
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