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Thursday, May 01, 2008

Condemnations Touch Two Notable Vacant Properties

It appears two notable vacant properties in the 1200 block of 9th Street across from the convention center, 1216 and1218 9th Street, have recently been condemned. Donning for sale signs of Ceccone & Company, Real Estate, Inc., the properties have apparently been on the market for quite some time (although I cannot find their lisitngs online). The properties are owned by "Shaw Centre LLC C/O Albert Ceccone."

Hopefully these condemnations, along with the under-assessed-in-my-opinion vacant property taxes the owner is paying, will provide some incentive to the owner to either lower the asking price or take action to bring new life to these noteworthy properties.
Thanks to Drew for the photos and tip.


si said...

this is the first year they are being taxed at the Vacant Class 3 rate. @ $72k for the year on both properties seems to be a good incentive.

Shaw Rez said...

Si - to the (large) extent to which you and the MVSNA are responsible for DC taxing these properties properties appropriately, congrats and thank you!!! I didn't realize that this is the first year for their being taxed at the vacant rate; too bad it's not retroactive.

The assessed values for these prime properties seems low to me, though -- 675k and 790k respectively. Maybe that's on target...

But you're right, the owner definitely now has a lot of incentive to do something.

A. Padro said...

The properties have been sold. More information to follow.

--Alexander M. Padro
Executive Director
Shaw Main Streets

Shaw Rez said...

interesting, Alex! We all eagerly await the details on this potentially exciting development!