Awards &

Power DC 2023: Matthew and Michael Pestronk
14th July, 2023
(Commercial Observer) -- The men behind Post Brothers are the poster boys for D.C.’s hottest real estate trend: office conversion.

The Philadelphia-based Matt and Mike Pestronk, who founded Post Brothers in 2006, entered the D.C. region for the first time last year with a splash, spending $228 million to buy the Universal office complex in the high-end Dupont Circle area, with plans to convert it to 600 apartments. This year, they followed that up with another office-to-resi purchase, acquiring a 300,000-square-foot office, also near Dupont Circle, for $68 million in May.

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