The Gale Eckington Update 12/16/22

Eckington Multifamily Trades for $215M

JBG Smith has sold The Gale Eckington at 151 Q Street NE to The Jonathan Rose Companies for  $215,550,000. The deal closed with a loan from Amazon's affordable housing investment fund which will require long-term affordability for a large portion of the building, 7.9% of units reserved for residents at or below 60% AMI, and 50% of units leased to residents at or below 80% AMI. The 603-unit multifamily building was constructed in 2013 and features several resident lounge spaces, a pool, and a fitness center.

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