October 5, 2020
Newmark Knight Frank has been tapped by the Acumen Cos. to sell an approved, 12-story, 76-unit condominium development site in Bethesda. NKF’s Senior Managing Director Lisa Benjamin is leading the assignment.
Located at 4824 Edgemoor Lane, the site is 600 feet from the Bethesda Metro Station and a 6-minute walk to the new 1 million-square-foot Marriott International Headquarters. Acumen has created value for the downtown Bethesda property through achieving Montgomery County Planning Board Preliminary Plan approval and Bethesda Design Advisory Panel Site Plan approval.
“There is virtually no new condominium product in this market,” said Abiud Zerubabel, chairman at Acumen Cos. “The plan is to meet that demand either through an investment partnership or sale. We believe that this project, with floorplans carefully designed with multiple spaces for the flexibility to work at home, will be particularly appealing to today’s professional buyer.”
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