Madison Investments, the family-owned and operated real estate development firm located in the nation’s capital, is pleased to announce the sale of its luxury apartment building, Elysium Fourteen, which opened November 2016 at 1925 14th Street, NW, 20009. Snell Properties, a real estate development and asset management firm based in Arlington, Virginia, is under contract to purchase the building for $43 million. The Snell Properties portfolio includes approximately 2,400 multi-family apartment units and 300,000 square-feet of commercial office space in Northern Virginia. This will be the company’s first luxury apartment building in Washington, D.C. CBRE’s Senior Vice President Robert Meehling and Senior Associate Yalda Ghamarian orchestrated the sale of the 56-unit property.
Elysium Fourteen is an exceptional residence developed for the most discerning urban tenant. It showcases some of the most commanding views of the nation’s capital courtesy of its floor-to-ceiling triple-pane windows. The buildout involved the careful renovation and restoration of two existing historic buildings. These were subsequently adjoined to a newly constructed nine-story LEED certified apartment building with retail on the ground floor. Retail tenants at Elysium Fourteen include Lululemon, Jeni’s Splendid Ice Cream and Orange Theory Fitness.
“We are excited to be expanding into the DC marketplace by adding Elysium Fourteen to our portfolio,” says Peter Colarulli, Vice President of Development for Snell Properties. “Elysium Fourteen is a generational asset that offers beautiful apartment homes in one of the best neighborhoods in Washington, DC.”
Sia Madani and Barry Madani founded Madison Investments in early 2006 with a small four-unit apartment project in Capitol Hill. The company has gone on to create several successful projects, winning multiple awards. The most recent projects are a 32-unit, ultra-luxury eight-story project called Elysium Logan at 1427 Rhode Island Ave NW, 20005, and a 49-unit project a couple of blocks from Barracks row, in Capitol Hill called Kipling House, located at 900 11th Street, SE, 20003. Currently Madison Investments has a boutique condo project underway called 11Q, located at 1101 Q Street, NW, which is scheduled to be completed in November 2018. This 15-unit, ultra-luxury condominium will offer a mix of one-bedroom, two-bedroom and penthouse residences with integrated in-unit private outdoor terraces and balconies. Another project in the works is Collection 14, located at 2114 and 2120 14th Street, NW, 20009, which was the original headquarters of Martha’s Table. This mixed-use development will incorporate 240 residential units, 25,00 square-feet of retail, 5,000 square-feet of office space, and is scheduled for completion in early 2021.
Madison Investments' philosophy and approach to each development is to combine elegant design with purpose and function. Every property is developed with a great deal of attention to details with exquisitely designed common areas and all of this is brought about through careful collaboration with designers, architects and consultants.
About Madison Investments
Madison Investments is a family-owned and operated real estate development firm located in the nation’s capital, focusing on the renovation and ground-up development of residential and mixed-use properties with an emphasis on luxury design. Madison is propelled by the vision of its two founders, Sia and Barry Madani, and behind them is a versatile team that fuses expertise with diverse sectors. Founded in 2006, the firm’s management team has worked together in Washington D.C. and its surrounding markets in varying capacities for over 35 years. The company has delivered multiple award-winning projects. Notable projects include: Elysium Logan, Kipling House, Lawrence House, 1020 Monroe and Hailey House. For more information, please visit: http://www.madisoninvestments.net.
About Snell Properties
Snell Properties is a real estate development and asset management firm located in Arlington, Virginia. Snell has created enduring value for over seventy years by providing growth in shareholder value, managing and preserving buildings that last, and understanding the needs of a diverse and changing real estate market. For more information, please visit: https://www.snellproperties.com.
Contact: Heather Freeman (202) 441-3607
Lindley Thornburg Richardson (703) 593-5503
Attachment