Tuesday, June 22, 2010

14th & Geez, Part III

Today's Washington Business Journal takes up a big question on the minds of downtown workers,what the heck is the deal with the large vacant National Bank of Washington building and several properties at 14th and G Street NW. 
The prime real estate was bought up between 2001 and 2003 to house a 50,000 square foot Armenian Genocide Museum, and has sat empty ever since.  In addition to the Hahn Shoe store, the project swallows up the ruins of a large office building, and such former businesses as Shelton's Salon & Day Spa and the Olmstead Grill, Clement's Pastry Shop, the Dragon Exotic Massage Parlor, a nail salon and tattoo parlor, a brewing company, a newstand, an Italian restaurant, and a vacant lot.  Housing Complex chimes in, noting that the properties are "to stay empty for quite a while more."

I explored this situation about a year and a half ago in a two-part series.  [14th & Geez, Part I / Part II]. Unfortunately, it seems as if the situation has only further deteriorated.  The owners owe the city more than $350,000 in taxes and face a lawsuit from a major disgruntled donor.

If you're curious, you can see how much these properties are worth and how much the owners have paid in property taxes over the years through these links:
  • 0253 0053: 1342 G ST NW purchased for $1,340,000 on 12/16/2003.
  • 0253 0054: 1340 G ST NW purchased for $1,700,000 on 3/19/2001.
  • 0253 0055: 1338 G ST NW purchased for $1,350,000 on 12/16/2003.
  • 0253 0067: 615 14TH ST NW purchased for $4,121,600 on 12/30/2003.
  • 0253 0817: 1336 G ST NW purchased for $6,500,000 on 11/04/2003.
  • 0253 0818: G ST NW purchased for $6,500,000 on 11/04/2003.
For years, my law firm was located across the street.  One year ago, we moved to a brand new building a few blocks away... but nothing has changed at 14th and Geez.

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