Friendly Estate Back on the Market

The controversy-fraught Friendly estate is back on the market. This property, located at 1645 31st St., has been the subject of much turmoil for years. Neighbors likely hope that this step will finally bring an end to it.

The story begins in 2006 when ex-Washington Post executive Marc Teren purchased the property. He wanted to subdivide the property and build a second home (presumably to sell it). The request was repeatedly denied.

Despite the fact that his subdivision plans were thwarted, Teren moved ahead with dramatic renovation plans. Unfortunately, the construction for these plans has stretched out over years and has been repeatedly beset with work stoppages. It would appear that Teren simply ran out of money to complete the job.

And the neighbors have been displeased, as this protest poster that appeared on the property last February can attest:

GM heard that several months ago an investor group bought the note on the property from the bank. And the the city rolls support that story since they record a sale of the property in March for $5 million to HM Georgetown LLC. But whoever bought it did not finish up, or even continue, the construction.

And now the house is for sale for $7.9 million. And what are you buying? A shell. The interior is completely gutted. And even the old tennis court has been demolished. However, GM has heard that an indoor pool was added. So, that’s nice.

Seven million seems too high to GM for a gutted house. But a price will be found, and a new buyer will take control. And the residents of upper 31st St. may finally be rid of the three-year-old construction site.

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3 Comments

Filed under Real Estate

3 responses to “Friendly Estate Back on the Market

  1. Maybe EastBanc can buy this property. Then they could apply to subdivide the property and build a second home (presumably to sell). EastBanc always gets their way with the City.

  2. Pingback: Friendly Estate Opens it Doors | The Georgetown Metropolitan

  3. Brad Altman

    Could HM Georgetown LLC be Herb Miller?

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