Jeff Thompson Looking For Quick Sale on Downtown Office Building
If you're in the market for a great deal on downtown real estate, you may want to give Jeff Thompson a call.
The man in the middle of a federal investigation into an alleged shadow campaign the feds say helped Mayor Vince Gray win the 2010 election is currently selling the crown jewel of his real estate empire: 1025 15th St. NW, a downtown office building only a five minute walk from the White House.
The building is currently home to D.C. Chartered Health, a Medicaid managed care organization that Thompson is also trying to sell. The building's official owner is D.C. Healthcare Systems Inc., which is owned by Thompson. The property's value was assessed at more than $6 million, but its market value is probably close to $9 million, according to one informed estimate.
Guy D'Amecourt of Summit Commercial Real Estate confirmed to LL that he's got the listing for the property, but declined to comment further. A local developer tells LL that shortly before Labor Day, D'Amecourt called looking to see if there was any interest in purchasing it. D'Amecourt told the developer Thompson wanted the property sold by week's end and would take any reasonable offer. "All cash deal, get to closing as fast as possible," is how the developer remembered D'Amecourt explaining his marching orders.
That was more than a week ago, and the property is still on the market. Thompson's criminal defense attorney did not immediately return a request for comment.
As LL noted in his column this week, Thompson's been shedding his assests rather quickly in the months before and after a March raid by federal authorities of Thompson's house and former accounting firm (which Thompson recently sold his stake in).
Here's Google streetview of the 15th Street property:
Photos courtesy of Charles Parsons and Google