Hotel conversion on the cards for CDF HQ

George Sell George Sell Uploaded 16 August 2018

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US: The former home of the Children's Defense Fund in Washington DC has been sold for $24 million.

Jetset Hospitality LLC bought the property at 25 E St. NW from the CDF and plans to convert the property to a hotel.

The sale included a 12-month lease-back to the CDF which plans to move to a new D.C. office next year.

Agent Newmark Knight Frank executive managing director Jud Ryan said several potential buyers were looking at the property and the top bidders aimed to convert it to a hotel, with each of them envisioning over 100 rooms in the building.

"If you look at the building, it's very similar to the building just next to it, the George Hotel, so it lays out very well for a hotel. Union Station is the largest transportation hub in D.C., so a lot of demand comes from that, and you have Capitol Hill right there and politicians and people lobbying on the Hill coming in and out of town."

The Kimpton George Hotel, an adjacent 139-room boutique hotel, opened in 1998.

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