FOR IMMEDIATE RELEASE
Historic Takoma Park Boutique Office Property Sold in Off-Market Transaction After 23-Year Hold
Press Contacts: Hannah McCann, Investment Associate, (240) 932-0009 | Andrea Jewell, Director of Marketing, (202) 932-5051
Washington, D.C., April 28, 2025 – Feldman Ruel, a leading commercial real estate firm specializing in the marketing and sale of investment properties in the Washington, D.C. metropolitan area, is pleased to announce the off-market sale of 7064 Eastern Avenue NW, a historic Takoma Park property known as the Cady-Lee House. The property sold for $1,950,000 after being held and operated by The Forum for Youth Investment for over two decades.
The seller, the Forum for Youth Investment, a nonprofit organization supporting youth-focused policy and practice, made the decision to downsize its Washington, D.C. area office footprint after 23 years. The Cady-Lee House, built in 1887 and designed by the architect of the Vice President’s residence at One Observatory Circle, is a prominent architectural landmark featuring a grand oak staircase, Tiffany-style stained glass window, seven original fireplace mantels, and a spacious outdoor area. It sits just steps from the Takoma Metro station along the Red Line.
The buyer, a local investor operating under the entity Takoma Park Properties, LLC, plans to open a child development center at the property. Drawn to the property’s inspiring character and proximity to Metro, the buyer intends to preserve the building’s historic charm while reimagining it as a space for childhood learning and development.
Given Feldman Ruel’s active work in the Takoma Park submarket, the buyer approached the firm to identify suitable properties for his vision. Knowing that the Forum for Youth Investment had been quietly exploring a footprint reduction, Hannah McCann, Investment Associate at Feldman Ruel, presented a strategic off-market offer, ultimately securing the transaction. 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.
“This transaction is a great example of the kind of thoughtful matchmaking that can only happen through deep local market knowledge and relationships,” said Hannah McCann. “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.”
About Feldman Ruel
Feldman Ruel is a commercial real estate services firm focused primarily on investment sales and property management in the Washington, D.C. metropolitan area and is consistently recognized as a market leader in the industry. Feldman Ruel successfully completes scores of transactions every year making it one of the top investment sales brokerage firms in the area. The experience and relationships resulting from hundreds of successful transactions allow the principals and agents of Feldman Ruel to provide their clients with the most accurate valuations, most effective multichannel marketing, and best advisory services available in the market.