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FORECLOSURE AUCTION



WEDNESDAY, MARCH 12, 2025 @ 11:00 am



AUCTION HELD AT:
On-Site Community Room
3425 A Street, S.E.
Washington, DC 20019

 

435-UNIT MULTIFAMILY COMMUNITY LOCATED ON 11.94 ACRES 

COMMONLY KNOWN AS MEADOW GREEN COURTS 

 

Located in Washington, DC near the RFK Stadium site 

Redevelopment opportunity and/or continued operation as a multifamily income-producing property 

Four parcels to be offered at auction individually, in combination, or as an entirety 

 

PROPERTY ADDRESSES 

3610 Minnesota Ave, SE, Washington, DC 20019 

3501-3547 East Capitol Street, SE, Washington, DC 20019 

127 35th Street, SE, Washington, DC 20019 

3425 East Capitol Street, SE, Washington, DC 20019 

 

OVERVIEW 

Foreclosure Auction – Wednesday, March 12, 2025 @ 11:00 am, Auction Held On-Site at Community Room of 3425 A Street, S.E., Washington, DC 20019. 

 

Opportunity to acquire Meadow Green Courts, a 435-unit multi-family community located at 3610 Minnesota Avenue, 3501 – 3547 East Capitol Street, 127 35th Street, and 3425 East Capitol Street, SE in Washington, D.C. The property spans 11.94 acres and consists of 51 three-story buildings across four city blocks, with each block being its tax parcel. The property is located in the Fort Dupont area within a Qualified Census Tract and is near the RFK Stadium redevelopment site. 

 

The property is zoned RA-2.  

 

The property consists of four separate tax parcels, each of which will be offered individually, in combination, or as an entirety offering. This auction structure will allow each bidder to bid on one, some, or all of the property being offered at the foreclosure auction.  

 

UNIT MIX 

The unit mix is believed to be comprised of the following 1-, 2- and 3-Bedroom units: 

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UTILITIES

  • The HVAC system operates on a two-pipe system; units have window air conditioners.

  • Each unit is individually metered for electricity.

  • The landlord covers water, sewer, gas, and trash; tenants pay for electricity, cable, and internet.

CONFIDENTIALITY AGREEMENT

To access the due diligence materials, each prospect must sign the approved Confidentiality Agreement.   

TERMS AND CONDITIONS 

Please refer to the Substitute Trustee Notice of Sale for detailed terms and conditions.  

SCHEDULED PROPERTY TOURS 

Tuesday, February 25, 2025, from 10 am to Noon 

Tuesday, March 4, 2025, from 10 am to Noon 

Friday, March 7, 2025, from 10 am to Noon 

Tuesday, March 11, 2025, from 10 am to Noon 

Wednesday, March 12, 2025, from 9 am to 10:30 am 

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CONFIDENTIALITY & DISCLAIMER

 

The Substitute Trustees, CENTURY 21 Commercial New Millennium, and RealMarkets provide all information and materials, including those from their affiliates, agents, advisors, and third-party sources, without any warranty or representation regarding their accuracy, completeness, or reliability. No warranty or representation is made regarding the subject real property, including its condition, compliance with regulations, potential development, financial performance, or any other matter.

Neither the Substitute Trustees, CENTURY 21 Commercial New Millennium, nor RealMarkets make any express or implied representations about the information provided. Any data, whether verbal or written, is provided solely as a reference and does not replace independent research and analysis. It is the sole responsibility of each potential purchaser to conduct thorough due diligence on all relevant aspects of the subject real property. The Substitute Trustees, CENTURY 21 Commercial New Millennium, and RealMarkets have not verified any information concerning the subject property.

PARTIES ARE STRONGLY ENCOURAGED TO CONDUCT THEIR OWN INDEPENDENT INVESTIGATION, ANALYSIS AND DUE DILIGENCE.

Any potential purchaser must independently validate all provided information, utilizing third-party professionals as needed. Financial figures should be confirmed through appropriate documents and industry experts. The Substitute Trustees, CENTURY 21 Commercial New Millennium, and RealMarkets do not guarantee the accuracy or applicability of financial projections, nor do they offer financial advisory services. Any estimated returns, market values, or rental projections are not assurances of actual performance. Potential purchasers must assess market conditions, lease potential, and operational risks regarding the subject real property.

CLICK HERE  to access the due diligence information. 

 

The foreclosure auction will be held on-site.  For more information, please get in touch with David Lowry, Director, Accelerated Sales with RealMarkets, a CENTURY 21 Commercial New Millenium team, for a copy of the Substitute Trustees’ Notice, including all terms of sale, scheduled property tour dates, and access to the available due diligence. He can be reached at 443-865-3941 or david@realmarkets.com

Gordon Feinblatt LLC
1001 Fleet Street, Suite 700
Baltimore, Maryland 21202


SUBSTITUTE TRUSTEES' SALE OF FOUR COMMERCIAL PROPERTIES


3610 MINNESOTA AVENUE S.E.,
3501-3547 EAST CAPITOL STREET S.E.,
127 35TH STREET S.E., &
3425 EAST CAPITOL STREET S.E.,
WASHINGTON, D.C. 20019

SALE AT 3425 A STREET S.E.
IN THE COMMUNITY ROOM

Under a power of sale contained in a Deed of Trust and Security Agreement (the “Deed of Trust”) dated August 30, 2023 and recorded on August 31, 2023 as Instrument No. 2023075634, default having occurred under the terms of the Deed of Trust, and following the recording of a Deed of Removal of Trustees and Appointment of Substitute Trustees as Instrument No. 2025013975, Affidavits of Non-Residential Mortgage Foreclosure as Instrument Nos. 2025012160, 2025012174, 2025012179, and 2025012208, and Notices of Foreclosure Sale of Real Property or Condominium Unit as Instrument Nos. 2025012141, 2025012170, 2025012186, and 2025012184, at the request of the party secured by the Deed of Trust, the Substitute Trustees will sell at public action in the community room of 3425 A Street S.E., Washington, D.C. 20019, on

MARCH 12, 2025 AT 11:00 AM

All that fee simple lot of ground, together with any buildings or improvements thereon located in the City of Washington, District of Columbia and more fully described in the Deed of Trust; the improvements being known as 3610 Minnesota Avenue S.E., Washington, D.C. 20019, Square 5411 Lot 802; 3510-3547 East Capitol Street S.E., Washington, D.C. 20019, Square 5412 Lot 801; 127 35th Street S.E., Washington, D.C. 20019, Square 5413 Lot 802; and 3425 East Capitol Street S.E., Washington, D.C. 20019, Square 5412N Lot 801 (individually and collectively, the “Property”).

 

TERMS OF SALE: This advertisement, as amended or supplemented by any oral announcements during the sale, constitutes the entire terms upon which the Property shall be offered for sale, sold, or purchased.

 

The Property will be sold in “AS IS” condition and without recourse, representation or warranty, express or implied, of any kind. The purchaser shall be solely responsible for obtaining possession of the Property. The Property will be sold subject to (i) all conditions, liens, restrictions, rights of redemption, covenants, encumbrances, and agreements of record that take priority over the Deed of Trust; (ii) any violations of housing, building, environmental, or other codes, and (iii) such state of facts that an accurate survey or physical inspection of the Property might disclose.

Each Property will be offered individually, in combination with other Property, and as an entirety. For each Property, a $250,000 deposit shall be required at the time and place of the auction and shall be in the form of a cashier’s check drawn on a bank acceptable to the Substitute Trustees. The deposit will not earn interest in the hands of the Substitute Trustees. The purchaser shall increase the deposit to ten percent (10%) of the bid price within two (2) business days of the sale, payable by cashier's check or immediate funds wire transfer to the Substitute Trustees. The party secured by the Deed of Trust (the “Secured Party”) or any affiliate thereof, if a bidder, is not required to post a deposit or to pay interest on the unpaid purchase money. If the Secured Party purchases the Property at the sale, the amount bid by the Secured Party, after deducting all expenses related to the sale, shall be a credit against the indebtedness secured by the Deed of Trust.

 

The balance of the purchase price, with interest at the rate set forth in the Promissory Note, shall be paid by cash, cashier’s check, or another acceptable form at settlement, which must occur within thirty (30) days following the sale. Interest will accrue from the date of sale until the date funds are received by NM Commercial Title, LLC, the closing agent for the Substitute Trustees. There shall be no abatement of interest if settlement is delayed.

 

The purchaser shall be responsible for, and take title to the Property subject to, all taxes, public charges, assessments, water and sewer charges, other utility charges, and all expenses of the Property, accrued before or after the sale. The purchaser waives any cause of action it may have against the Substitute Trustees, the Secured Party, and their affiliates for any condition of the Property that may not comply with any federal, state or local law, regulation, or ruling. The purchaser has not relied on the foreclosure advertisement, marketing, or promotion materials concerning the condition of the Property. The Purchaser shall pay all closing costs. All rents, collected to the day prior to closing, are the property of the Secured Party. All obligations of the purchaser hereunder shall survive closing and delivery of the deed. Neither the Substitute Trustees nor the Secured Party, nor any other party, covenant to deliver or in any way obtain possession of security deposits for the purchaser. The purchaser (other than the Secured Party) shall sign a contract including this advertisement, any verbal announcements at the sale, and other terms. Time is of the essence.

 

The purchaser shall deliver to the Substitute Trustees, within seven (7) business days following the sale, an insurance certificate confirming that the purchaser has obtained casualty and liability insurance coverage on the Property, naming the Substitute Trustees and the Secured Party as additional insured parties on the policy, and otherwise in form and content acceptable to the Substitute Trustees. The failure of the purchaser to provide such evidence of insurance coverage shall constitute grounds for nullifying and voiding the sale. The Substitute Trustees reserve the right to require registration and/or pre-qualification of bidders, to modify or waive the requirements for bidders' deposits, to approve the creditworthiness of any bidder, to withdraw the Property from sale, to cancel the sale, to use an agent or attorney to conduct the sale, to reject any and all bids or to postpone the sale and keep the bidding open for any length of time.

 

If the purchaser defaults, the Substitute Trustees may retain the deposit as liquidated damages, resell the Property at the risk and cost of the defaulting purchaser, and recover any deficiency in the purchase price, all costs and expenses of both sales, attorneys’ fees, and related expenses, or may avail themselves of any other legal or equitable remedies available to them. The defaulting purchaser is not entitled to any surplus from the resale, even if such surplus is due to improvements made by the defaulting purchaser.

 

If the Substitute Trustees are unable to convey the Property by reason of any defect in the title or otherwise, the sole remedy of the purchaser of the Property at law or in equity shall be the refund of the deposit. Upon refund of the deposit to the purchaser, the sale shall be void and of no effect. The conveyance by the Substitute Trustees to the purchaser at settlement shall be by Substitute Trustees’ Deed, without covenant or warranty.

NOTE: The information contained herein is offered for informational purposes only and there are no warranties with respect to the accuracy of such information. For additional information, please contact David S. Musgrave, Substitute Trustee, (410) 576-4194, dmusgrave@gfrlaw.com or Stephen Karbelk, auctioneer, RealMarkets, a CENTURY 21 Commercial New Millennium team, (571) 481-1037 or stephen@realmarkets.com.

 

David S. Musgrave & Natalie C. Gibson, Substitute Trustees

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