Washington D.C., May 16, 2024 – A joint venture partnership between an investment affiliate of Bernstein Management Corporation (BMC) and Tryline Capital (Tryline), has completed the acquisition of The Argonne, a 276-unit multifamily community located at 1629 Columbia Rd NW, in the Adams Morgan neighborhood of Washington D.C.

Built in 1923, The Argonne consists of studio, one- and two- and three-bedroom apartments featuring old world features like hard wood floors and six panel doors complemented by renovated kitchens with stainless steel appliances and a community pool. The building provides easy access to the shops, restaurants and entertainment options in the vibrant neighborhood of Adams Morgan. The property is close to the Columbia Heights Metro.

According to Bernstein Management Corporation Senior Vice President of Investments, Terra Weirich, “The Argonne stands out among rent-controlled buildings in DC for its high visibility at the intersection of 16th & Columbia Rds. NW, large unit sizes, high quality finishes and extensive amenities.  We are pleased to make it the 25th rent-controlled building in our portfolio and to be kicking off a new relationship with Tryline Capital.”

The Argonne represents BMC’s first multifamily acquisition of 2024, following the purchase of The Shay and Valo in 2023.

For leasing information, visit The Argonne.

For information about Bernstein Management Corporation, visit bmcproperties.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.

About Tryline Capital

Tryline Capital (Tryline) is a real estate investment firm based in New York and DC that invests in multifamily and residential mixed-use properties in the Mid-Atlantic region. Launched in 2020, Tryline currently has a portfolio of seven properties comprising nearly 1,100 apartment units with another 200 units under development. Tryline typically invests in joint venture and Co-GP structures with best-in-class local operating partners. The firm’s family office mindset gives it a long-term perspective and approach that helps to create differentiated investment opportunities.

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An investment affiliate of Bernstein Management Corporation (BMC), a regional leader in real estate investment and management, has completed the acquisition of The Shay retail condominiums, consisting of 27,000 SF of ground floor retail situated directly below its existing multifamily asset

Built in 2015, The Shay retail is home to leading destination retailers including Warby Parker, Le Labo, Union Kitchen Grocery and Rewild as well as eateries including Cracked Eggery, Gogi Yogi, Compass Coffee and Cava.

According to Bernstein Management Corporation CEO Josh Bernstein, “The acquisition of The Shay retail  both creates operating efficiencies with The Shay apartment community and allows us to further our investment in the vibrant Shaw neighborhood with a best-in-class retail asset.”

BMC acquired The Shay, a 245-unit multifamily community, in June 2023.

For information about Bernstein Management Corporation® / Bernstein Management®, visit bmcproperties.com.

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