Showing posts with label Monocle Building. Show all posts
Showing posts with label Monocle Building. Show all posts

Friday, April 29, 2016

Monocle Building for sale in Bethesda

The Monocle Building at 4848 Battery Lane is for sale, with an asking price of $7,500,000. Air rights for 9 stories would accrue to the buyer. It would be a logical additional piece for the Donohoe Development Company to add to the adjacent gas station and medical building properties it already owns.

A final piece that could create the largest possible parcel for redevelopment next to 8200 Wisconsin Avenue is 8227 Woodmont Avenue, currently owned by Woodmont Properties of Bethesda. It's unknown what their level of interest - if any - would be in selling, however.

At a lot size of 12,800 SF, I'm trying to calculate what the maximum height and density could be on the Monocle site, if it were to be redeveloped alone instead of joined with any adjacent property. If you have an idea, post in the comments below.

I've been inside the Monocle Building many times. Outside, it is an unusual combination of a quite nice 1980s glass facade office wing raised over a parking lot, and a ground-level half that - frankly - resembles a jail, with its tiny windows and vast facade of drab bricks. Overall, I've always had a positive impression of the building, and the surface parking is probably a selling point for a buyer who just wants to keep it as is for a revenue stream.

Let's just hope TD Bank doesn't find out it's available...