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Navy Yard warehouse sold for $31M

The online auction had a total of 14 bidders and 74 bids

Photo via Google Street View

Only a block away from the Navy Yard Metro station, the General Services Administration (GSA) announced the $31 million auction sale of a one-story, multi-use government warehouse. The 33,000-square-foot property, located at 49 L Street SE, was built in 1924 and sits on 0.68 acres of land. [UPDATE: Lerner Enterprises, through the subsidiary Half Street Partners LLC, acquired the site.]

In a statement, GSA Administrator Emily W. Murphy said, “Creating value for taxpayers by reducing the federal government’s physical footprint, including disposal of surplus real property, is a top priority for GSA. In addition to the revenue raised through the auction, disposing of surplus property frees the federal government from the cost of maintaining an unused facility, which saves additional taxpayer funds.”

The online auction opened in October 2017 and closed December 2017. There were a total of 14 bidders and 74 bids in the auction.

GSA Officially Announces $31 Million Auction Sale of Surplus Federal Property in the District of Columbia [GSA]