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Smokey’s Barbershop on H Street, NE Sold to a Developer

by Prince Of Petworth April 12, 2017 at 10:30 am 57 Comments

1338 H Street NE
1338 H St, NE courtesy The Feldman Group

From a press release:

“The Feldman Group of Marcus & Millichap announced today the sale of 1338 H Street NE along the H Street Corridor of Washington, D.C. The 1,656-SF asset sold for $835,000.

Josh Feldman, First Vice President of Investments, and Ian Ruel, Investment Associate, of the Feldman Group closed the off-market transaction. The property was purchased by The 11th Property Group, which plans to develop the asset into a mixed-use project. The previous owner operated a barbershop at the property since 1999. “This sale proves that for developers looking for projects along H Street NE, there are still opportunities as long-term owner/operators move on to the next phases of their lives,” explains Feldman.

The 11th Property Group had already closed on the property next door at the time of the sale. The Feldman Group was able to facilitate the acquisition of 1338 H Street NE so that they could increase the size of their project.”

smokey's
Photo by PoPville flickr user Eric P.

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