Properties
Grosvenor House
Bethesda, MD
Grosvenor House
Overview
Brickman believed the corridor north of the Capital along the Rockville Pike was an unrecognized, high-growth submarket of suburban Washington, DC. Through an existing relationship, Brickman discovered an opportunity to convert a 20-story apartment building into residencies. The Grosvenor House, located in Rockville, Maryland, is conveniently located on Rockville Pike, which is near the Washington Beltway and I-495 in Northern Bethesda.
Description
Grosvenor was built in 1986. In 2005, Brickman commenced renovations, including upgrades to the lobby, elevators, social lounges; the creation of a new health club; as well as improvements to the pool and grounds. The 20-floor high-rise has 400 spacious units, totaling 336,000±SF, and is situated on park-like grounds.
Results
Brickman has completed the conversion of the apartments into condominiums. The firm successfully sold several units within the first year of the acquisition and is pleased with the pace of unit sales.