The former Ivy City home of District Made Spirits, among the first distilleries to open in D.C. post-prohibition, has sold to a Northern Virginia investor for $5.4 million.
Sweetwater DC LLC, managed by One Eight Distilling’s Sandy Wood, this week sold 1135 Okie St. NE to an LLC managed by McLean-based investor Sonny Preet for $5.4 million, according to public records. One Eight Distilling was the producer of District Made Spirits, which shuttered in February after 11 years.
Ryan Smith, Josh Feldman and Ian Ruel of Feldman Ruel represented the buyer. Tony LoFrumento and Guy d’Amecourt of Summit Commercial Real Estate represented the seller.
The two-story Okie Street property spans 24,500 square feet of flex-industrial space. It is vacant, finally cleared of some 1,200 barrels of liquor and more than $1 million dollars worth of distilling equipment, and Preet told me he’s currently eyeing several potential options for the space, including food and beverage concepts or a wholesale redevelopment.
Preet, who’s been in commercial real estate for three decades and formerly owned a chain of international clothing stores, called the deal “really tough,” with multiple potential buyers vying for the Ivy City property. The investor also owns 2135 Queens Chapel Road NE, the home of Echostage, and multiple properties in Maryland, but he said his primary focus today is on Ivy City and the Union Market area, citing the Bowser administration's “support of new businesses.”
Preet’s affiliate, 1135 Okie LLC, obtained a $3.765 million loan from Shore United Bank as part of the transaction, according to deed records.
One Eight Distilling, founded by Wood, an attorney by trade, and longtime friend Alex Laufer, shuttered after trying unsuccessfully to secure new investments or ownership, the duo announced on its website. The pair produced whiskey, gin and vodka, but couldn't survive post-pandemic challenges including a drop-off in foot traffic and competition from bigger distillers, they told Washingtonian in February.
"We built a safe, fun, welcoming space for all, and loved hosting your get-togethers, distillery-crawl visits, birthdays, anniversaries, weddings and other milestones," Wood and Laufer wrote to fans, partners and others.