D.C. boxing institution sells its longtime 14th Street NW home

The Midtown Youth Academy will be taking its talents likely away from the District’s bustling 14th Street NW corridor, as the boxing and education institution’s longtime home there has sold.

The Feldman Group of brokerage Marcus & Millichap (NYSE: MMI) announced the $2.275 million sale of 2206 14th St. NW, a 2,870-square-foot building on a 2,400-square-foot lot. The building was in dire need of work, and its sale for $793 per square foot was a “significant amount for a property in its condition,” per the announcement.

The buyer was a joint venture of D.C.-based Zusin Development and New York investment group Sivan Properties. The deal, recorded June 4, closed in only 15 days, which “allowed the Midtown Youth Academy to jumpstart its search for a new location while simultaneously raising enough capital to fund its programs for many years to come,” Marcus & Millichap said.

Midtown Youth Academy was founded in 1977 by Eugene Hughes, a boxing trainer and drug abuse counselor.…

Read the full story from the Washington Business Journal.