A 260-Unit landmark asset in the highly sought after Washington, DC Union Market neighborhood
1280 Union St NE, Washington, D.C.
Investment Highlights
Surrounded by Retail and Lifestyle Amenities
Located in the heart of Union Market, residents have unmatched walkability (97 walk score) to all lifestyle amenities. Union Market hosts the most vibrant dining scene in the DC Metro accompanied by endless shops, entertainment venues, neighborhood events, and continues to ne the destination of choice for highly exclusive retailers and restaurants.
Quality Demands Premium
Margarite’s top of market unit finishes and unique variety of large floorplans command the highest rents in Union Market. Margarite’s premium offerings compete with the selection of the highest luxury apartments in the DC Metro, positioning the asset for additional rental upside.
Impending Union Market Supply Shortfall
In the past 24 months, nine assets totaling 3,100 units have delivered to the Union Market/NoMa submarket. Of these deliveries, six are stabilized averaging 94% occupancy and three remain in lease-up averaging 25 leases per month. Submarket future supply has come to a halt with zero construction starts in 2023, 2024, and 2025 setting the stage for upcoming supply shortage to meet the continued demand momentum.
Superior Renter Population
Union Market’s strong renter environment averages $130,000 in household income with over 70% of households renting within 1-mile. Margarite captures the premier renter population with average HH income of $257,000 and a median resident age of 35.
Metro Connectivity
Convenient metro access just a 5-minute walk to NoMa-Gallaudet (Red Line) connecting residents to Union Station, Capital One Arena, and the Washington D.C. CBD all within three stops. Four stops from NoMa-Gallaudet, residents can access the Blue/Silver/Orange lines servicing Rosslyn Ballston Corridor, The Pentagon, Amazon HQ2, and the VT Innovation Campus.
Quick Stats
- Property Address
- Year Built:
- Total Units:
- Avg. Unit Size
- Walk Score
- Metro Adjacent
- Retail SF
- Average HH Income
- Lease
Unit Mix
MARKET RATE UNITS
# of Units
% Mix
Avg SF/Unit
Total SF
JR 1
36
13.80%
570
20,523
1 BR
66
25.40%
655
43,208
1 Den
10
3.80%
734
7,340
JR 2 BR / 1 BA
19
7.30%
814
15,461
JR 2 BR / 2 BA
40
15.40%
873
34,920
2 BR
32
12.30%
999
31,952
3 BR
10
3.80%
1,621
16,210
1 BR Penthouse
2
0.80%
751
1,501
JR 2 BR Penthouse
1
0.40%
1,072
1,072
2 BR Penthouse
5
1.90%
1,154
5,772
2 Den Penthouse
3
1.20%
1,277
3,830
3 BR Penthouse
7
2.70%
1,514
10,596
Total/Avg Market
231
88.80%
833
192,385
IZ Units
# of Units
% Mix
Avg SF/Unit
Total SF
JR 1
3
1.20%
614
1,842
1 BR
15
5.80%
697
10,462
JR 2 BR / 1 BA
1
0.40%
809
809
2 BR
9
3.50%
1,041
9,369
3 BR
1
0.40%
1,583
1,583
Total/Avg
29
11.20%
830
24,065
Combined Total/Avg
260
100%
833
216,450
The Location
Union Market
Contact Us
DC METRO
4445 Willard Ave.,
Suite 1200
Chevy Chase, MD 20815
INVESTMENT SALES
Brian Crivella
Senior Managing Director
301.580.6685
[email protected]
Yalda Ghamarian
Managing Director
240.462.2332
[email protected]
Bill Gribbin
Managing Director
301.580.6486
[email protected]
Jack Canepa
Associate Director
301.941-4629
[email protected]
MORTGAGE BANKING
Patrick McGlohn
Senior Managing Director
301.941.4610
[email protected]
Brian Gould
Managing Director
301.941.4616
[email protected]
1280 Union St NE, Washington, D.C.
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