Deal Close
June 30, 2026
Type
Multifamily, 6 units
Price
$2,100,000
Michael Murray
Mid-Atlantic Multifamily Team
Executive Summary
The first of three small assets Greysteel was engaged to sell for Aria Residential, this gut-renovated property in Capitol Hill’s Seward Square sold just below an aggressive strike price — roughly a 6.25% cap rate on trailing income — to an all-cash buyer who already owned a property two doors down.
The Challenge
Pricing was set aggressively relative to the market, and the team needed a buyer motivated enough to meet close to that number rather than a process that dragged toward a discount.
The Solution
Greysteel marketed the renovation quality and location on their merits, landing a buyer already familiar with the immediate block, which shortened both the negotiation and the closing timeline.
Results
- $2,100,000 sale price, just below strike, at roughly a 6.25% cap rate on T12 income
- TOPA cleared without tenant participation in 45 days
- Closed roughly ten days after TOPA cleared — a notably fast timeline for DC
- Set a strong price-per-unit comparable for future Capitol Hill sales
“After prior attempts to sell the property were unsuccessful… Greysteel secured a buyer at just below the target valuation — a cash purchaser who already owned property nearby. The transaction cleared TOPA without tenant participation and closed in an expedited timeframe, establishing a strong pricing benchmark for future sales in the Capitol Hill submarket.” — Michael Murray, Greysteel Lead Deal Contact, Mid-Atlantic Multifamily Team
Greysteel Advisory Expertise
Greysteel is a commercial real estate advisory firm specializing in investment sales and debt and structured finance, serving private investors, middle-market operators, and institutional clients nationwide.
The firm provides sector-focused advisory across multifamily, healthcare, and affordable housing and other commercial real estate asset classes, delivering market intelligence, capital markets expertise, and disciplined execution.
