A 4,600-square-foot end-unit Capitol Hill rowhome steps from the Supreme Court has set a neighborhood record for most expensive sale.
The home at 214 A St. NE sold for $5.35 million to TSG DC Assets LLC, a Florida limited liability corporation, according to public records. Joel Nelson of Keller Williams Capital Properties represented the seller, the Schmidt family of Capitol Hill-based Schmidt Development, which constructed the home six years ago and had used it as their personal residence.
Andrew Smith and Ben Smith, both commercial brokers with CBRE, represented the buyer.
The buyer secured a $4.28 million loan from MidSouth Bank as part of the deal, according to deed records. The trust was signed by Paul Bradshaw of The Southern Group, a Tallahassee, Florida-based lobbying firm.
Indeed, TSG is, by several metrics, Florida’s largest lobbying firm, said Chase Kroll, founding partner of TSG Advocates, The Southern Group’s young D.C.-based federal practice, which was announced in January. And 214 A St. NE, Kroll said, will serve as “the TSG embassy,” functioning as a mixed-use space for its “boatload of clients” and growing workforce.
“We’re coming to D.C. to make history,” Kroll said. “We want to be here for this administration, the next administration, the next century.”
As for the mortgage, Kroll said the cost of renting trophy office was roughly even with the cost of a monthly mortgage, and TSG, he said, would rather own than lease.
The home was listed in December for $5.5 million, went under contract in early February and sold March 24, per deed records.
In a tie for second most expensive home ever sold in Capitol Hill are 212 A St. NE — which sits next to 214 A and was also built by Schmidt — and 316 A St. NE, according to multiple listing service data provided to the Business Journal. Both sold for $4.995 million, the former in September 2022 and the latter in May 2021.
Much like Potomac riverfront land in McLean, where buyers will pay millions extra for the privilege of a waterfront view, there’s a premium for any home this close to the Supreme Court, Nelson told me. The homes at 212 and 214 A sit just inside the Supreme Court’s security perimeter.
“I would call it at least a million,” he said. “Approaching 20% is the bump for its proximity.”
Among its features, 214 A includes white oak flooring, Turkish honed marble, a chef’s kitchen, flexible lower level described in the listing as “warehouse-sized,” guest quarters with private entrance, private backyard garden and courtyard with outdoor grill station and garden walls, and a climate-controlled two-car garage that doubles as a studio.
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