In October 2017, it was revealed that infamous landlord, Sanford Capital, sold a Columbia Heights building, known as Fairmont Place, for $7.25 million to Petra Development and sold a Brookland development, called Tivoli Apartments, to E&G for $5.1 million. Bisnow reports that Sanford Capital’s current plan is to sell, sell, sell—until their entire D.C. portfolio is gone.
The latest properties sold are the 45-unit G Street Apartments at 4951 G Street SE and the 156-unit Martin's View Apartments at 205 Elmira Street SW. The prices totaled $4.5 million to Dr. Yusuf Mosuro and $15.5 million to Stoladi Property Group, respectively.
For over a decade, Sanford Capital has purchased apartment complexes in Washington, D.C., that often service the city’s working class. Over time, the landlord has earned a reputation for for owning properties that tend to endure issues like fungi, air conditioning and heating issues, and roaches.
Since 2009, Sanford Capital has collected nearly $150,000 worth of fines, according to the D.C. Department of Consumer and Regulatory Affairs in an interview with the Washington City Paper.
• Notorious Sanford Capital Sells 2 More D.C. Properties, Plans To Unload Entire Portfolio [Bisnow]