Tuesday, March 12, 2013
The winning bidder in the West Heating Plant Auction is a development team that includes developer Richard Levy, New York-based The Georgetown Co. and the Four Seasons Residences, the Washington Business Journal reports.
Updated 3:48 p.m. The General Services Administration (GSA) announced Tuesday that it has accepted a $19.5 million bid for the Georgetown West Heating Plant from Georgetown 29K, LLC. The Washington Business Journal had an exclusive interview with the development team, which includes developer Richard Levy, New York-based The Georgetown Co. and the Four Seasons Residences. The West Heating Plant auction closed last Wednesday. GSA is now working to close the sale. Georgetown 29K, LLC "will now have ten days to provide an additional deposit to move the sale process forward. After the deposit is received, the transfer of title to the new owner should happen within approximately 100 days," according to a press release from GSA. The Levy team's…
Sunday, March 10, 2013
A look at a few of the most notable stories this week on Georgetown Patch.
West Heating Plant Auctioned for $19.5 Million The General Service Administration's (GSA) auction of the Georgetown Heating Plant closed earlier this week. The winning bid came in at $19.5 million. The sale will not be final until GSA goes through its post-auction process and it is unclear at this point how long that will take. Read more about the lengthy auction here. All the World is a Stage for Georgetown Murder Defendant Albrecht Muth, who is charged in the murder trial of his late wife, took a few moments this week to speak directly to the court during a pretrial hearing. Muth offered a detailed statement on topics ranging from the Iranian hit on his wife and his ongoing religious fast. He then announced that he would exit "the stage…
Wednesday, March 6, 2013
The auction closed Wednesday.
The General Services Administration's (GSA) West Heating Plant auction finally ended Wednesday, more than two week after the soft close date, with a winning bid of $19.5 million. The opening bid for the 2-acre lot and 20,000 square-foot building at 29th and K Streets, NW was $500,001. Though the auction opened Jan. 18, the first bid did not appear until Feb. 14. The soft close for the auction was 5 p.m. on Feb. 19, but the auction was set up to not officially end until 24 hours went by without a new bid. The last unchallenged bid came in Tuesday and the alotted 24 hours expired mid-day Wednesday. Bidding was anonymous and the winner, Anonymous Bidder #2, is unknown. The GSA previously said it would release the identity of the winner after …
Friday, February 22, 2013
New bidders have joined the fray and the price increases daily.
The auction of the West Heating Plant in Georgetown is far from over days after the soft close of the General Services Administration eBay-style auction of the 2-acre lot and 20,000 square-foot building at 29th and K Streets, NW. Though the soft close for the auction was 5 p.m. on Feb. 19, the auction will not officially end until 24 hours go by without a new bid. Since Tuesday, 13 new bids have slowly pushed up the going price. A new bid must be at least $200,000 more than the previous bid. By the end of the day Thursday, the winning bid had jumped to $11.5 million, up from $6.95 million that morning. Anonymous Bidder#05 was in the lead Thursday evening, having joined the fray Wednesday, a day after the auction was potentially set to …
Tuesday, February 19, 2013
Anonymous bidders are battling over the West Heating Plant in Georgetown.
In the few final hours of bidding in the West Heating Plant auction, four anonymous bidders drove the bid price from a measley $501,000 to more than $5.2 million as of 4 p.m. Tuesday. GSA determined that the West Heating Plant site, a 2-acre lot with a 20,000 s.f. building, was excess property. After going through a disposal process, which included opportunities for community feedback, GSA approved an eBay-style auction so the property at 29th and K Streets, NW would go to the highest bidder. The General Services Administration (GSA) opened the auction Jan. 18, the first bid arrived Feb. 14 and the soft close was 5 p.m. Tuesday. On Tuesday alone there were 13 bids, each increasing by at least the minimum increment of $200,000. The soft …
Friday, February 15, 2013
As of Friday morning two bids were placed in the auction for the West Heating Plant
With only five days left until the soft close of the auction on the West Heating Plant, two bids arrived Thursday. The current bid to beat is $701,000 before the auction closes at 5 p.m. Feb. 19, though the General Services Administration (GSA) reserves the right to a possible auction extension. The West Heating Plant is an excess federal property at 29th and K Streets, NW, which includes a 20,000 square-foot building on a 2-acre lot. GSA opened an auction for the property Jan. 18. The first bids arrive on the very day the GSA changed how user IDs appear on the bid history page, making them anonymous. According to the auction website, "As of February 14, 2009 bidders will be assigned the actual bidder number for the sale/lot based on when …
Tuesday, January 29, 2013
An update to the Invitation for Bid advises potential participants of NPS's desire.
The National Park Service wants a conservation easement on the West Heating Plant property to prevent a future owner from building anything on certain portions of the land. The General Services Administration is auctioning off the West Heating Plant federal property at 1051 29th St. NW, though there have been no bids in the week and a half since bidding opened on Jan. 18. The easement, for a section of land outside the high stone wall that runs adjacent to Rock Creek and the C&O Canal, would prohibit development of anything on the land east of the high retaining wall adjacent to Rock Creek or on the land north of the stone wall that is adjacent to the C&O Canal. It would also maintain public access to Rock Creek and the C&O Canal from the …
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1051 29th St NW, Washington, DC
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Friday, January 18, 2013
If you have $500,000, you can place a bid, starting at 8 a.m. Friday, on the 2-acre excess federal property in Georgetown.
The West Heating Plant, one of the last large, underutilized properties in Georgetown, goes on the auction block today at 8 a.m. The General Services Administration auction requires a registration deposit of $500,000, which is also the starting bid. Bids must be made in increments of $200,000. The auction closes at 5 p.m. Feb. 19, though GSA reserves the right to a possible auction extension. The decommissioned federal property at 29th and K Streets, NW includes a 20,000 square-foot building on a 2-acre lot. The auction comes after a year of community meetings, site evaluations, public input period and other actions necessary to dispose of federal property. Most recently in December the GSA posted its Environmental Assessment (EA) online …
Wednesday, December 19, 2012
The starting bid in General Services Administration (GSA)'s auction is $500,000.
The General Services Administration (GSA) will start its online eBay-style auction Jan. 18 for the Georgetown West Heating Plant. Interested parties must submit a registration deposit of $500,000, which is also the starting bid. The auction closes at 5 p.m. Feb. 19, though GSA reserves the right to a possible auction extension. The West Heating Plant, a 20,000 square-foot building on a 2-acre lot, is a surplus federal property on 29th Street, just north of K Street, NW in Georgetown. For almost a year the GSA has been in the process of disposing of the property, which is one of the biggest swaths of land left for large development in Georgetown. The building offers expansive views of the Potomac, the monuments, downtown and of Georgetown …
Monday, December 17, 2012
The Environmental Assessment posted Saturday and the auction cannot proceed until 30 days thereafter.
The West Heating Plant auction will not happen until 2013, though no official date has been set. Friday, the General Services Administration (GSA) posted its Environmental Asessment online to allow for public review and comment. It determined a "Finding of No Significant Impact" (FONSI) from the proposed auction of the decommissioned property at 29th and K Streets, NW. As required by law, the GSA has opened a 30-day public review period, which concludes Jan. 14, 2013. Copies of the assessment are available online and at the Georgetown Neighborhood Library (3260 R St., NW). The agency previously realeased a Draft EA in July. In the FONSI, the GSA reminds potential bidders that local zoning rules and planning overlays would apply: "Any …
Shaun Courtney
10:36 am on Wednesday, February 20, 2013
Thanks for your input, Walter. The bidding is up to $5.6 million, but that is certainly less than the numbers you proffered. -Shaun more ›