“You’re getting a call from someone who controls an asset that has no liquidity, and it’s a potential conversion or a piece of land,” Post Brothers co-founder Matthew Pestronk said. “Throw out the lowest number that they won’t be insulted by, say you need this much time to execute, and you’re getting answers of, ‘Huh, let us think about […]
Philadelphia developer Post Brothers bought the older 2100 M St. NW building for a potential residential conversion earlier this year.
While developments like Post Brothers’ $500 million, 1,100-apartment Piazza expansion are nearing completion, dozens of others are kicking off or in the works.
Michael Pestronk, co-founder of the developer Post Brothers, tells Axios that the plans are to convert two 1960s-era towers into apartments — One of the largest projects envisions 600 to 650 units across from the Washington Hilton near Dupont Circle.
Read more at Axios D.C.