In case you were wondering what was taking so long for Sky House West apartments at Waterfront Station to start leasing, it was reported today in the Washington Business Journal that the building was sold by Urban Atlantic and The JBG Companies to Bernstein Management Corp for $80 million. Typically, if a newly constructed apartment building in DC is sold, it is done so before tenants move in so TOPA rules do not go into effect. Sky House West is a 264-unit building which was formerly an office building that served as the headquarters of the EPA. From the article:
Bernstein owns and manages nearly 90 properties in the D.C. area. Its CEO said Sky House West is a "terrific asset," that Urban Atlantic "did an excellent job with the gut renovation, creating a quality product."
Its sister building Sky House East, which is still owned by Urban Atlantic and The JBG Companies, began leasing in early 2014 and is now more than 95% occupied.