A seven-story brick and limestone building is under way at 1630 Connecticut Ave. NW., former site of a parking lot. The developers of the 42,000-square foot building, designed by GMR Ltd., are Jeffrey N. Cohen and Simon Herson. Precision Construction is the general contractor and exclusive leasing is by Brannock Associates, which noted that prospective rents are $25 to $27 a square foot annually, plus electricity. The site abuts a small building (that formerly housed Ellen's Irish Pub), which is being renovated by Cohen.

The small three-story building at 1710 Rhode Island Ave. NW has been sold for $950,000 to a partnership that plans to assemble more abutting ground on M Street (to the south) for a new office building. AMVET's sold its former headquarters building to move to suburban Maryland. The new ownership includes attorney Mark Griffin, Thomas Walsh Jr., Richard Naing and architect Leo Boeckl. The law firm of Lambert, Griffin and McGovern and Julia Walsh & Sons, stockbrokers, plan to occupy the new building.

Bank Street College, based in New York City, has opened a Washington office in the historic Colorado Building at 1341 G St. NW. Arthur Rubloff & Co. arranged the lease for the college that has a contract from the Department of Health and Human Services to assess a child development firm. K & K Properties owns the building.

Julien J. Studley Inc., a national real estate firm specializing in office leasing, reported that preleasing for new downtown office buildings here totaled 451,225 square feet in January and February. During the same period more than 206,000 square feet was leased in suburban Maryland and 365,600 square feet in Northern Virginia. The same report lists 141,000 square feet still available this year in new downtown buildings.

The Washington office of James W. Rouse & Co. arranged $11.8 million in permanent financing with New England Mutual Life Insurance Co. for 919 18th St., scheduled to be completed later this year. A partnership is developing the 89,000-square-foot building designed by Weihe, Black, Jeffries, Strassman & Dove. Leasing is being handled by Barnes, Morris & Pardoe and the John Akridge Co., one of the owners, will manage the project. A major tenant will be Skadden, Arps, Slate, Meager & Flom, a New York law firm.

Honeywell, an international research and development firm, has joined its building management services division with Barnes, Morris & Pardoe for a joint effort in real estate sales leasing, financing and management services. Barnes, Morris & Pardoe, founded here in 1961, recently has handled sales and leasing projects exceeding $300 million. Principals in the firm are William R. Morris Jr., Charles E. Pardoe and Peter S. Burr. Offices are located in Downtown Wasington, Chevy Chase and McLean.

Capital Gallery, a 400,000-square foot building being developed by Boston Properties at 6th Street and Maryland Avenue SW, is reported nearly fully leased six months before completion. Leggatt McCall and Werner is the leasing agent for the building designed by Gruen Associates. The site on the L'Enfant Plaza Metro station has attracted several national associations, consulting firms and a Washington law firm. CAPTION: Picture, The former Amvets building at 1710 Rhode Island Ave. NW, which sold for $950,000. By Douglas Chevalier The Washington Post