An aging office building near Dupont Circle is headed to a foreclosure auction next month.
An affiliate of Boston’s ELV Associates Inc., owner of 1776 Massachusetts Ave. NW, owes $29.1 million on a loan issued by Society 1776 Mass Ave LLC, a subsidiary of the D.C.-based nonprofit Society for Science, according to a foreclosure notice filed May 21 with the D.C. Recorder of Deeds and D.C. property records.
A foreclosure auction is scheduled for June 21 at the Wisconsin Avenue offices of Harvey West Auctioneers Inc.
The 91,312-square-foot, 1970s-era concrete building is the latest dated commercial office property to find itself in the foreclosure crosshairs amid challenges attracting new tenants, and holding onto existing tenants. The property’s exact occupancy isn’t clear, but listings posted by Cushman and Wakefield suggest roughly 40% of the building’s leasable space may be empty.
ELV executives could not be reached for comment. It purchased the building in 2012 from an affiliate…
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