The Pierce School Is on the Market

Posted by Andre M Perez on Thursday, February 20th, 2014 at 11:05pm.

Pierce School For Sale in Washington DC

Currently on the market in Washington DC, is one of the most unique buildings you’ll ever come across. The Pierce School was built in 1894 and named after former US president Franklin Pierce, The stunning brick building with its octagonal corner turreted tower, is located at 1375 Maryland Avenue NE near the corner of 14th Street, and just a short distance from the US Capitol.

Before getting to the history and details of this beautifully restored historical structure, you should know the asking price--$6.9 million which represents a recent $350,000 reduction

The Pierce School was built by the Office of the Building Inspector as a public elementary school for white students, and became an African-American school in the 1940’s. It shut down operations as a school during the 1970’s and became a homeless center until the 1990’s, before being put up for sale.

By the time developers Jeff Printz and Chris Swanson bought the school in 2000, it was a gutted shell with four feet of standing water in the basement, and lacking a roof on the corner tower. The closing price was just $275,000, less than you’ll pay for many one-bedroom condos these days. And so began the transformation.

After a lengthy approvals process, Printz and Swanson began construction in 2001, completing the major renovations in 2004. The Pierce School was now a combination of nine rental lofts and a two-story, 9,600 square-foot owner’s unit. On the owner’s unit main level are living areas, bedrooms, a spacious office and a giant kitchen that would put many DC cafes to shame. On the 5,600 loft level are four guest bedrooms and bathrooms, and a private three-tier movie theater. There is also an 800 square-foot owner’s deck and rooftop garden.

Original features have been restored and renovated throughout the school, including the use of enormous former classrooms as living spaces. You’ll find the old, original chalkboards and lockers in every unit, as well as 8.5-foot windows and a myriad of other fascinating architectural details. The rental lofts, many with tenants in place, range from 1,500 to 1,900 square-feet. Investors will also be interested to know that there’s an old house behind the school, with two additional rental units.

Want more details? How about original, restored hardwood floors, exposed brick walls, ductwork, ceiling fans and old-style hanging lamps? There’s also floating stairs and beautiful custom kitchens, some of which are elevated off the main floor. Add massive fireplaces, a huge outdoor heated pool in a courtyard setting, and a state of the art fitness center and spa—accentuated by raw brick walls and artwork.

The Pierce School offers a seamless integration of rich historical details and modern amenities such as wall-mounted flat screen televisions next to old, original chalkboards, plus vintage library tables and card-catalogue cabinets. As for the bathrooms, they’re furnished in a variety of styles from modern to retro, with the common denominator being absolute luxury. One other note—the school comes with four years of free property management!

LEARN MORE ABOUT THE PIERCE SCHOOL FOR SALE IN WASHINGTON DC BELOW:

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