The D.C.-based nonprofit Forum for Youth Investment has sold the Cady-Lee Mansion in Takoma after owning and operating the property for over two decades.
The historic property at 7064 Eastern Ave. NW was sold off-market in April for $1.95 million. The Forum for Youth Investment, an organization that supports youth-focused policy and practices, decided to downsize its office presence after 23 years in the D.C. area.
The 22-room Cady-Lee House, built in 1887 by the architect of the Vice President’s residence, is a notable landmark and features a grand oak staircase, Tiffany-style stained glass windows, seven original fireplace mantels, and a spacious outdoor area, all steps from the Takoma Metro station on the Red Line.
The Queen Anne-style Takoma Park Historic District house entered the National Register of Historic Places in 1975.
Hannah McCann of Bethesda-based commercial real estate firm Feldman Ruel represented the buyer, a local investor operating under Takoma Park Properties, LLC, who plans to open a child development center.
According to a press release, the deal closed just 55 days after contract execution. Ian Ruel, Managing Principal, and Alex Petrov, Investment Associate at Feldman Ruel, also served on the deal team.
Drawn to the property’s inspiring character and proximity to Metro, the buyer intends to preserve its historic charm while reimagining it as a childhood learning and development space.
“This transaction is a great example of the kind of thoughtful matchmaking that can only happen through deep local market knowledge and relationships,” McCann said. “It’s exciting to see a historic property like the Cady-Lee House preserved and activated in a way that continues to serve the community.”