18 Comment

  • This is an ongoing (10+ year) saga of a greedy developer who has continued to try to shove ambitious plans down the city’s throat. He finally has put forward a more reasonable plan that doesn’t involve demolishing the historic buildings.

    DCMUD has a good, short summary. http://dcmud.blogspot.com/2009/05/n-street-hotel-prolongs-agony.html

  • So this assclown bought the place in 1988 and 21 F**KING YEARS LATER, nothing’s being done with it?

    How much tax revenue has been lost in those two decades?

  • Contra Adam Smith, people are economically irrational actors all the time. A lot of real estate deals in DC are living proof.

  • Yeah, but they’re really nice boards.

  • I just love that this guy’s company is called “N Street Follies Ltd.”! Folly indeed.

  • if you’d like to get some good background on this, search “morton bender” in the dupont current archives (yeah, they’re all PDFs, so that might not be so simple).

  • Here’s a link to the Office of Planning’s recommendation to the Board of Zoning Adjustment, dated 9/28/09

    Basically, OP recommends approval of the establishment of a hotel
    at 1743-1755 N Street, NW, with a few issues about parking to be worked out.

    You can call the OP project manager, Arlova Jackson, for more details (202) 442-7600.

  • As Kristin suggests, the other side of the coin is the city isn’t letting Bender do any of the projects he planned for the site. If he thinks the city will eventually let him build something there and he thinks he’ll profit from it, owning it is not irrational.

  • Every wanabe yuppie thinks that holding shells and empty property is a ‘waste’ and ‘irrational’. Big developers know better. Carrying costs are not nearly as big as potential payoff. They generally didn’t get to where they are by selling cheap, or going the easy route.

  • “Big developers know better.”

    Yes, but 21 years is a LOOONNG f**king time to wait for a payoff. Is the guy going to be in his 70s when he is rewarded handsomely for sitting on these properties for decades? Will it be worth the wait? Is there more to life than sitting around waiting for your ship to come in?

  • Yes

    Owner could be holding property for heirs. There could be benefits to allowing property to pass at death. Owner could be borrowing against value of property and living quite comfortably. There are any number of reasons to hold property. I am sure
    if money was an issue it would be sold or the subject of a lawsuit.

  • If you knew the whole story about my eviction against Bender; my

  • 10 year battle, you would understand Bender’s MO. This is pretty nasty stuff. Just google Bender Mullin N Street. There were some city paper stories about it. How many times did the f..ck slash my tires?

  • i ‘m thinking that each story has at least two sides….

  • seems like he bought an old apartment house and wanted to empty it out. not too many sides to this story.

  • “So this assclown bought the place in 1988 and 21 F**KING YEARS LATER, nothing’s being done with it?
    How much tax revenue has been lost in those two decades?”

    -assclown commentary by a non-taxpayer or someone unfamiliar with municipal real property tax collection.

    Every year Tax Certificates are auctioned by the city to the public for any property with unpaid real property taxes.

    Savvy investors pay the taxes due in full holding the certificates and collecting interest and penalties for every day until they’re redeemed by the delinquent or subsequent title holder.

    The city never loses any real property tax revenues by this system; not a dime.

    Since real estate taxes were first established and imposed by government, nobody really “owns” real estate under this system. We hold title for a time that is fleeting.

  • check out the DC real property assessment on 1755 N Street that the a..sclown has been sitting on for years: he only is assessed at $1.4 million!? What? It says he paid $12,000 in real estate taxes in 2008. You got to be kidding. My effing condo in Columbia Heights is almost assessed for that much. WTF

  • Does anyone know the name of teh architectural firm designing this “repositioning?’

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