The 17-year-old Georgetown Inn has been purchased for $7,935,000 by a partnership of three Washington investors who plan to spend $500,000 on refurbishing the 105-room luxury hotel.
Situated at 1310 Wisconsin Ave., NW, the six-story hotel was purchased recently by brothers Gary and Scott Nordheimer and Attorney Myer (Mike) Feldman, who have been partners in condominium apartment conversions and other real estate investments here. The seller was Georgetown Inn Inc., of which investor Elmer Babin of Cleveland was the general partner.
Completed in 1963 by a group headed by developer Samuel and Sheldon Magazine, the federal-style brick hotel has become a landmark, with its Four Georges restaurant and piano bar at the corner of N Street and Wisconsin Avenue.
Gary Nordheimer said that occupancy in 1979 averaged 86 percent, and that rooms and suites now range in cost from $75 to $140 a night. The hotel has 65 parking spaces. He said the hotel lobby will be completely redone.
Last year it had been known that Washington investor Jeffrey Cohen had a contract to purchase the Georgetown Inn for $7 million. Cohen sold his contract to Holland & Lyons, a real estate development firm that, in turn, sold its interests to 1310 Wisconsin Avenue Associates, a partnership that includes the Nordheimer brothers and Feldman. CAPTION: Picture, The 15-year-old Georgetown Inn on Wisconsin Avenue in Georgetown that has been sold for $7.3 million. By Lucian Perkins -- The Washington Post