Posts Tagged ‘hecht’s warehouse’

Douglas Makes Big Changes to Hecht’s Warehouse Plans

When Doug Jemal looks at the old Hecht Company distribution center, a vacant warehouse on noisy New York Avenue NE that he bought for $20 million in 2011, he sees a property that's "gonna be worth $200 million." When he looks at the surrounding neighborhood, economically depressed Ivy City, he sees an area that "could be the Meatpacking [...]

Sale Watch: U Street, Melody Records, Patriot’s Parking Lots

A few interesting property transactions over the past few months:

The District bought a cluster of parking lots on Okie Street NE from Patriot Equities, the company that tried and failed to develop the Hechts Warehouse right nearby, for $16,750,000. All the Department of General Services could tell me is that they'll be used to consolidate multiple [...]

Does Douglas Have Designs on the Hecht’s Building?

The giant Hecht's Warehouse on New York Avenue NE was one of the more notable failures of the real estate boom and bust: Patriot Equities bought the site for $77.5 million in 2007, dreaming of new mixed-use life for the old art deco building. But the firm couldn't keep up with interest payments on a [...]