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Luxury Rentals

Washington's apartment vacancy rate has been increasing with a higher demand than supply can keep up with. Now, after $80 million and two years of construction, 233 units are available in a 13-story mixed-use luxury apartment community. About 85 percent of the units are studios and one-bedroom apartments with an average rental size of 670-square-feet. The units are described as having a "transitional feel" due to having moveable islands. The developer recently sold the property with 6,500-square-feet of ground-level retail space for $106.5 million. The building is located on 450 K St. NW. [CPExec]