1532 North Capitol Street NW Washington, DC 20002
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About this Project
Congressional Capital provided the Borrower with the second trust loan behind a local bank when the Borrower obtained its construction loan. The Borrower subsequently developed The Maddox House Condominium, which was the ground-up development of 13 residential condominium units. We were very impressed with the Borrower's execution of the project, as the project was built quickly and the resulting product looked great.
The 15,000 square foot building spans four floors, plus a penthouse and three parking spots. The Borrower constructed the project and installed all new utilities, a new HVAC system, as well as new hardwood floors, bathrooms and kitchen finishes, including stainless steel appliances and other finishes consistent with the highest quality renovations in the submarket.
The Property is located in the NoMa neighborhood of Washington, DC which stretches north from Massachusetts Avenue. The neighborhood has a broad mix of cultures and activities with both residential and commercial opportunities.