A 269-unit D.C. apartment building at 1499 Massachusetts Ave. NW was acquired by an affiliate of Goldman Sachs & Co. LLC for $147 million.

The Goldman Sachs affiliate received a $70 million loan from the New York State Teachers’ Retirement System, reported by the Washington Business Journal. The property, located two blocks east of Scott Circle, has a 2026 assessed value of $163 million. Located near Logan Circle and the 14th Street Corridor, the property features studio, one-, two-, and three-bedroom apartments.

The property is at the center of an ongoing legal case brought by the District and was sold by Post 1499 Massachusetts LLC, an affiliate of Mid-America Apartments LP, which is an affiliate of the real estate investment trust Mid-America Apartment Communities Inc. The D.C. Office of the Attorney General filed a lawsuit in April alleging that Mid-America Apartment Communities Inc. and its affiliates charged tenants illegal junk fees.

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The post Goldman Sachs Pays $147M for DC Apartment Building  appeared first on Connect CRE.

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