Loose Lips

Jeff Thompson’s Property Sell-Off

Jeff Thompson, the D.C. Medicaid contractor and campaign contributor whose home and office was raided in March by the feds in connection with their investigations into campaign finance issues, has been quietly unloading several pieces of his District real estate portfolio during the last several months.

Just after Christmas last year, Euclid Street Partners, an LLC Thompson owns that was a frequent money order contributor to political candidates, sold a Columbia Heights rowhouse (sale price: $800,000). At the beginning of this year, Thompson also sold another property on 5th Street NW, according to one of his Realtors, Shalamar Muhammad.

Thompson also tried to sell a property in Capitol Hill that houses a hair salon earlier this year, but that deal is tied up in court. The prospective buyer, Charles Parsons, is suing Thompson, saying he improperly backed out of the deal. Thompson is countersuing, saying Parsons is improperly holding up his ability to sell. Muhummad was Thompson's agent on that deal and was recently deposed as part of the lawsuit. During the deposition, Muhammad said she sold the Euclid Street property and the 5th Street property for Thompson. (She didn't give an exact address of the 5th Street property in the deposition. LL has a call in to Muhammad and will update as necessary.)

More recently, Thompson listed his Crestwood home last month and is in the process of selling it (asking price: $1.175 million). Thompson is also trying to sell a plot of land on Poplar Point where he planned to house a catering company (asking price: $2.5 million).

Besides the real estate sell-off, Thompson is also in the middle of selling his health insurance company, Chartered Health Care, which has a contract with the District worth more than $300 million.

So why is Thompson selling so many things? Unknown. Thompson's attorney has declined to comment since the raid.

During questioning from Parsons during the deposition, Muhammad agreed that Thompson preferred a cash sale and a quick settlement on the Capitol Hill property. But she added that "a lot of investors say that," and that she didn't think Thompson showed any type of urgency when selling his property. (Thompson initially had the property listed at $700,000 but agreed to sell it to Parsons for about half that amount.) Thompson still has a pretty sizeable real estate portfolio, which includes another million-dollar Crestwood home and a multi-million downtown office building that Chartered pays Thompson to lease.

And if you needed a reminder of how small a town this is: Muhummad says she met Thompson through the politically connected defense attorney A. Scott Bolden, whom she used to date. In the deposition, Muhammad says Bolden and Thompson are friends and that she would run into Thompson at social events, like "fundraisers for politicians." (Also of passing interest, Muhammad used to manage a restaurant in Chicago for Louis Farrakhan, leader of the Nation of Islam.)

Screengrab via C-SPAN

Comments

  1. #1

    Sullivan and his firm gotta get paid. I'm guessing thompson already owes them a couple mill.

  2. #2

    Hard to believe the property is assessed by the city for $585,600 even though you can find rowhouses along 14th Street assessed for well over that assessment. Might be time to see who was handling the assessments.

  3. #3

    That is worth looking into @ Jimmy

  4. #4

    @ All yall. Get a life!!!!!!!

  5. #5

    Seems to me Black and Power or Money do not go together in Washington, D.C. When it has happened, LL seems to get an itch and has to scratch the dirt to try and separate the Black from the Power and/or the Money. It's a shame the itch does not arise for others who are not Black but have the Power and Money. Double standards continue to exist throughout D.C and the media, including the Washington Post and LL.

  6. #6

    The issue of assessments is a sore point.
    Have asked this question several times and
    This lists the property as a 4 bedroom .
    considering property values in DC it would seem to be way under assessed.|
    Building Type Single
    Building Style 3 Story
    Living Area 5,732
    Year Built 1880
    Bed Rooms 4
    Bath Rooms 6
    1/2 Bath Rooms 0
    Total Rooms 14
    Wall Common Brick
    Floor Hardwood
    Heat Hot Water Rad
    Air Conditioning

    Property Detail

    Address: 0133 C ST SE
    SSL: 0733 0825
    Record Details
    Neighborhood: CAPITOL HILL Sub-Neighborhood: A
    Use Code: 24 - Residential-Conversions-Less t Class 3 Exception: No
    Tax Type: TX - Taxable Tax Class: 001 - Residential
    Homestead Status: ** Not receiving the Homestead Deduction
    Assessor: MITCHELL HAMBURGER
    Gross Building Area: Ward: 6
    Land Area: 3,466 Triennial Group: 2
    Owner and Sales Information
    Owner Name: C STREET CENTER INC C ST CENTER
    Mailing Address: 133 C ST SE; WASHINGTON DC20003-1807
    Sale Price: Not Available
    Sale Date: 09/28/2009
    Instrument No.: 106347
    Tax Year 2011 Preliminary Assessment Roll
    Current Value Proposed New Value (2011)
    Land: $479,310 $483,850
    Improvements: $1,355,190 $1,240,350
    Total Value: $1,834,500 $1,724,200
    Taxable Assessment: * $1,834,500 $1,724,200 no answer

  7. #7

    I really do not know what this man is really up to. He has a lot of issues and that is a lesson that should be learned to investigate for your self if the agent you hired is really a reputable one.

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