Washington D.C., June 13, 2023 – An investment affiliate of Bernstein Management Corporation (BMC), a regional leader in real estate investment and management, has completed the acquisition of The Shay, a 245-unit multifamily community located across two buildings at 1921 and 1924 8th Street NW in the Shaw neighborhood of Washington D.C.
Built in 2015, The Shay consists of studio, one- and two- bedroom apartments featuring 10-foot ceilings with floor to ceiling windows, custom finishes and access to the destination shops and restaurants along the vibrant U Street Corridor. The property is situated above 27,000 SF of ground floor retail (not included in the purchase) including Union Kitchen, Compass Coffee, Le Labo, Warby Parker and Bonobos, and boasts close proximity to the U Street Metro station.
According to Bernstein Management Corporation CEO Josh Bernstein, “The Shay offers the best of everything including state-of-the-art amenities, beautifully appointed apartment homes and a central location in the dynamic Shaw neighborhood, which is an amenity unto itself.”
The Shay represents BMC’s second multifamily acquisition of 2023, following its purchase of Valo in the Southwest Waterfront neighborhood of D.C. in February 2023.
For leasing information, visit theshay.com.
About Bernstein Management Corporation
Bernstein Management Corporation (BMC) has been a regional leader in real estate management for 70 years. BMC’s investment affiliate is a fully discretionary, private real estate fund with assets valued at over $2.0 billion, low leverage and significant capacity to make additional investments. Focusing exclusively on the Washington D.C. metropolitan area, the portfolio currently includes 80+ properties representing over 5,500 residential units and 3.3 million square feet of commercial space including office, retail and industrial assets. BMC’s team of over 230 industry experts manage the portfolio with a hands-on, vertically integrated approach. For more information, visit bmcproperties.com.