Perpetual Savings Bank said this week that several would-be buyers have made offers for the Washington Building at 1440 New York Ave. NW, its strategically located 11-story office building within sight of the White House, but so far it has rejected all of them as too low.
Perpetual acknowledged the offers in an unusually terse press release that was void of any substantive information about the bids it had received on the Beaux Arts building, which was built in 1927 and recently renovated. Perpetual acquired the 215,000-square-foot building in 1983 as part of a package when it purchased Interstate Federal Savings and Loan. Since then, the building has been on the sales market, but Perpetual said all offers so far have "been deemed unsatisfactory."
"Other than that, I can't comment," said Perpetual spokesman James Pastore. He declined to say how many offers or what specific dollar amounts have been made for the building.
The District has assessed the building as worth $34 million.
The value of building permits issued in the nation's 200 largest cities declined by 2.4 percent during the first quarter of 1987, dropping from $12.5 billion to $12.2 billion, according to Dun & Bradstreet Corp.
But among cities where the value of building permits increased, Alexandria ranked second in the nation behind Miami. Dun & Bradstreet reported that Alexandria's total increased from $9.9 million in the first three months of 1986 to $62.6 million in the first quarter this year, a 530.3 percent gain. Miami's total increase was 1,154 percent, from $4.8 million to $59.8 million.
"The current decline in building permit values largely reflects the ongoing economic pressures in the oil-producing states," according to Joseph W. Duncan, Dun & Bradstreet's corporate economist and chief statistician. "For example, in the 19 cities Dun & Bradstreet tracks in Texas, the total value of permits issued was down 40 percent from the first quarter of 1986."
New York, with $811.4 million, ranked first in total building permit value, followed by Los Angeles ($705 million) and San Diego ($447.1 million).
IN THE BUSINESS ... Three Washington-area firms that have specialized in real estate acquisition, development and management are now operating collectively as the Associated Companies. The firms are Associated Realty Management Co. Inc., Imperial Development Co. Inc. and Associated Investment Co. Inc. ... Upper floors of the former Rockville Mall are being transformed into parking and theater facilities and what was a ground-level alley is being turned into a retail promenade. The 400,000-square-foot complex, to be renamed Rockville Metro Center, is being redeveloped by Eisinger Kilbane & Associates of Bethesda ... The Evans Co. is leasing and developing 750,000 square feet of space for the Science Application International Corp. on Goodridge Drive at Tysons Corner ... Steffey Realtors has affiliated with Associates Transfers Location Corp., a national referral network of independent real estate agents ... The Mortgage Bankers Association of America says that a survey of 124 lenders shows that net servicing income for mortgage companies fell 40 percent last year. MBA attributed the drop to quickened payoffs of mortgages stemming from the wave of refinancings last year and losses from delinquencies and foreclosures ... Silverbrook Road Associates, a partnership of the Stanley Martin Cos. and Winchester Homes, plans to develop Barrington, a 176-acre residential community on Silverbrook Road in Fairfax Station. About 480 homes are planned and construction is scheduled to start next year ... Comfort Inn Downtown, a 200-room hotel at 500 H St. NW developed by Madison Property Co. and the Wilkes Co., has been completed ... Marriott Corp. has opened its fourth Courtyard by Marriott hotel in the Washington area, this one at 2500 Research Blvd. in the Shady Grove area of Montgomery County ... DRI Realty Co. Inc. has changed its name to Commercial Real Estate Inc. ... The National Housing Partnership, which owns and manages 75,000 units of multifamily housing, has named developer Oliver T. Carr Jr., attorney Lloyd N. Cutler and New York architect David M. Childs, former chairman of the National Capital Planning Commission, as board members.
PERSONNEL FILE ... Judith Dedmon has been named senior vice president of the Federal National Mortgage Association's southwestern regional office ... Jeff R. Painter has KT Enterprises Inc., a commercial landscaping firm, as vice president of marketing and sales ... Van Metre Cos., a Burke-based developer and builder, have two new vice presidents: Betty Fleming for marketing and new home sales and S. Michael Kledzik for housing ... Cambridge, a commercial developer and property management company, has appointed A. Donald LaRue as president of Cambridge Management ... Parkway Cos., a Baltimore-Washington corridor developer, have named David R. Paulson vice president.