Building Set for D.C. Armenian Genocide Museum Sold for $57 Million
WASHINGTON (A.W.)— Lincoln Property Co. is now in control of the building that was formerly planned to be the Armenian Genocide Museum, reported the Washington Business Journal.
Washington D.C. deeds show that the Cafesjian Family Foundation Inc. sold the building that was the former National Bank of Washington at 619 14 St. NW, along with three adjacent parcels on April 5 for $57 million. The buyer is 14th G Street Holdings LP and Bari Nichols, a senior vice president with Lincoln Property.
Lincoln Property acquired the property in partnership with Pearlmark.
The Cafesjian Family Foundation Inc. had hoped to install an Armenian Genocide Museum before the plans fell through and the property became involved in years of litigation.
In August, Lincoln Property filed plans to redevelop the bank and its adjacent parcels with an 11-story office building that would sit behind it on G Street NW. The proposal would add 127,186 square feet to the 35,000 square-food existing building.
The proposal of the historic building, which dates to the 1920, includes a restoration of the bank’s historic façade, as well as the bank hall and mezzanine level in the building.
Source: Armenian Weekly
Link: Building Set for D.C. Armenian Genocide Museum Sold for Million