Tag Archives: MG Residential

MLK Gateway Welcomes Capital One Café To Historic Anacostia

Capital One Café inks lease for third Washington, D.C. location east of the river

Reported on August 14, 2020

The Menkiti Group | 3401 8th Street NE | Washington | DC 20017


WASHINGTON, D.C.) – The Menkiti Group, a local DC-based minority-owned integrated real estate services company focused on enhancing urban neighborhoods, announced today that Capital One Café will be the newest tenant at the historic Anacostia MLK Gateway project opening in 2021.

Located at the corner of Good Hope Road and Martin Luther King Jr. Avenue SE, MLK Gateway is a collaboration of DC Government and the private sector, including the Office of the Deputy Mayor for Planning and Economic Development (DMPED), the DC Department of Housing and Community Development (DHCD), The Menkiti Group, and Enlightened, Inc., and is poised to become a catalytic center of commerce and street-fronting retail, driving economic opportunity in the heart of historic Anacostia.

“Our vision for MLK Gateway has always been to create a community-oriented project that drives neighborhood impact,” said Bo Menkiti, founder and chief executive officer, The Menkiti Group. “The opportunity to have Capital One Café join us as a tenant at MLK Gateway further delivers on the mission to enhance historic Anacostia with neighborhood offerings that support community engagement and economic vitality.”

Phase One of MLK Gateway includes a mix of commercial uses and features the restoration of 14,000 square feet of ground-floor retail as well as 20,000 square feet of newly built office space. The project is anchored by Enlightened Inc., an award-winning information technology and cybersecurity firm that will relocate its new headquarters to MLK Gateway. The project’s design embraces and incorporates the site’s existing historic facades and is a rich backdrop for a new epicenter of commerce, culture, and technology with a vibrant mix of neighborhood-serving retail.

“Mayor Bowser was thrilled to work with The Menkiti Group to revitalize the MLK Gateway and to relocate Enlightened’s headquarters to the intersection of Good Hope Road and Martin Luther King Avenue in historic Anacostia,” said John J. Falcicchio, Deputy Mayor for Planning and Economic Development. “The addition of Capital One as a retail tenant will provide further vibrancy and also give residents better access to a major financial institution.”

Capital One Café will occupy approximately 3,700 square feet at MLK Gateway, bringing reimagined design and banking services to the space. The Café will offer a full-service coffee and tea bar featuring locally sourced food and beverages, complimentary Wi-Fi, as well as nooks and meeting rooms for the public to use as collaborative workspaces. Intentionally designed to provide a relaxed and inviting atmosphere to both customers as well as neighborhood guests, all visitors will also be able to engage in a variety of financial education opportunities while in the Café.   

From interactive screens showcasing financial management content to free confidential one-on-one Money Coaching sessions to regularly scheduled free Money Workshops, the Café provides an experience that highlights opportunity paths to achieve financial goals. Café Ambassadors will also be on site to assist with exploring banking solutions and options while ATMs will be readily available for banking services.

“Capital One Cafés are not only a place to get help with accounts or focus on financial wellness, they serve as a convening space for the local community. Our investment in the Anacostia MLK Gateway location gives us the chance to bring that experience to another important DC neighborhood, complementing our existing network of Cafés and Branches,said Jennifer Windbeck, Senior Vice President of Capital One Cafés, Branches, & Private Banking.

Consistently focused on building with and for the communities and customers it serves, Capital One Café will offer free meeting space for neighborhood associations, non-profits and students. Supporting various organizations across the D.C. Metropolitan area, Capital One has strong relationships with Anacostia-based community partners including the Anacostia Economic Development Corporation, Far Southeast Family Strengthening Collaborative, and ARCH Development Corporation.

The Menkiti Group has been actively engaged with the historic Anacostia community for the past four years, working together with the Bowser Administration and DMPED to execute on a collaborative vision for equitable and sustainable economic development in Ward 8.  MLK Gateway will include the launch of a technology incubator activating the site for the greater part of the day and providing jobs and pathways to opportunity for residents and businesses. Phase Two of the project includes the construction of a new building at 1909-1913 Martin Luther King Jr. Ave. SE with street-level retail and multi-story office space above which will serve as the new home for the DC Department of Housing and Community Development.

“Our commitment has and always will be to enhance the fabric of life in America’s urban communities. We are honored to partner with Mayor Bowser, DMPED, Enlightened and Capital One who share a similar commitment as we develop this project that brings to life the community’s vision for the future of the Anacostia neighborhood,” said Menkiti.

ABOUT THE MENKITI GROUP

The Menkiti Group is a Washington, D.C.-based real estate services company dedicated to enhancing the fabric of life in America’s urban neighborhoods through the strategic development, management, and sale of residential and commercial property. Over the past 15 years, The Menkiti Group has delivered and maintains in its pipeline more than 2 million square feet of property, has invested over $200 million in D.C.’s emerging neighborhoods and has assisted over 2,000 families in purchasing their first homes. For more information, please visit MenkitiGroup.com.

ABOUT CAPITAL ONE

Capital One Financial Corporation (​www.capitalone.com​) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $243.7 billion in deposits and $365.7 billion in total assets as of December 31, 2017. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses, and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index. Visit the Capital One newsroom for more ​Capital One news​.

 Maya Nadeem | 443.309.5092 | maya@menkitigroup.com

Historic Buildings in Hyattsville Get Revamped

by. The Hyattsville Wire

Artistic District
Image provided by The Hyattsville Wire

Green Owl Design is revamping several more historic structures on the 4800 blocks of Rhode Island Avenue which were built from 1927 to 1932. 

The Arts District-based design firm is working with the Menkiti Group to refresh a block of storefronts along Rhode Island Avenue near Streetcar 82 Brewing Co.

Co-founder Erica Riggio said they are refreshing the facades with a more modern material while keeping the Tudor design, adding a new roof and retaining wall and upgrading the interior.

After talking with area residents, Riggio said she hopes space will end up with some retail and a restaurant, bar, diner or other food-related business, especially if it’s locally owned.

“Our desire would be to make Hyattsville more of a destination,” she told the Hyattsville Wire. “There is a desperate need for more spots to go to for food and drink.”

Green Owl Design, a part of the SoHy Collective, previously updated a dentist’s office and other buildings at 5804 Baltimore Ave. and helped set up Polka Dot Park and the nearby Instagram-friendly murals.

Learn about housing programs that can benefit you through the home buying process by first-time homebuyer expert, Marie Claire Ntam, and our guest speaker Katie Griffin of KVS Title. http://bit.ly/2IoInHd

Check out our Featured Listings.

Reported on October 12th, 2019 | The Hyattsville Wire | by: Alison Beckwith

MG Residential is a 2019 Washingtonian Top Team


The reason we’re on the Washingtonian list of Top Agents once again? It’s our incredible clients! We are so thankful to every one of them, from first-time home buyers, to repeat clients that entrust us to help them find their 2nd or 3rd home, or the right investment property. We are grateful for their business – and appreciate each referral or inquiry sent our way.

Being in the Top 1% of agents nationwide holds us to the highest standards, which means we’ve got to have the knowledge and experience that our clients need and trust. Since 2004 we’ve completed over $1.1 billion in sales, and we’ve assisted over 2,500 families purchase homes, including 1,100 first-time home buyers.

Guided by in-depth knowledge to evaluate, prepare, price, and showcase properties, we get top results for our clients. With more than 175 new construction units sold, we are also go-to experts for many developers and investors.


We are also pleased to share the news that six of our KWCP Agent Entrepreneur colleagues are included on the Top 100 Best Realtors List.
This exclusive designation is reserved for real estate professionals recognized for their outstanding performance, their market knowledge, integrity, communication skills, and closing preparation as acknowledged by their peers and more than 25,000 Washingtonian magazine subscribers.

Congratulations to these outstanding agents we are so fortunate to work with!

Harrison Beacher
Marjorie Dick Stuart
Joel Nelson
Veronica Seva-Gonzalez
Martin Signore
Theresa Taylor

Buying and owning real estate is an exciting investment strategy…

Buying and owning real estate is an exciting investment strategy, that can be both satisfying and lucrative. Unlike stock and bond investors, prospective real estate owners can use leverage to buy a property by paying a portion of the total cost up front, then paying off the balance, plus interest, over time.

While a traditional mortgage generally requires a 20% to 25% down payment, in some cases, a 5% down payment is all it takes to purchase an entire property. This ability to control the asset the moment papers are signed emboldens both real estate flippers and landlords, who can, in turn, take out second mortgages on their homes in order to make down payments on additional properties.

KEY TAKEAWAYS
  • Aspiring real estate owners can buy a property using leverage, paying a portion of its total cost up front, then paying off the balance over time.
  • The four chief ways in which investors can make money through real estate are: 1) becoming landlords of rental properties, 2) real estate trading (a.k.a. flipping), 3) real estate investment groups, and 4) real estate investment trusts (REITs).

Here are four ways in which investors can put properties to good use:

Real Estate Investing 101
Interested? Reserve your seat HERE

Join MG Residential and Prime Lending to learn what you need to know from financing options to the renovation process.
-Reserve your spot HERE

1. So You Want to Be a Landlord

Ideal for: People with DIY and renovation skills, who have the patience to manage tenants.
What It Takes to Get Started: Substantial capital needed to finance up-front maintenance costs and cover vacant months.
Pros: Rental properties can provide regular income while maximizing available capital through leverage. Moreover, many associated expenses are tax deductible, and any losses can offset gains in other investments.
Cons: Unless you hire a property management company, rental properties tend to be riddled with constant headaches. In worst case scenarios, rowdy tenants can damage property. Furthermore, in certain rental market climates, a landlord must either endure vacancies or charge less rent in order to cover expenses until things turn around. On the flip-side, once the mortgage has been paid off completely, the majority of the rent becomes all profit.
Of course, rental income isn’t a landlord’s sole focus. In an ideal situation, a property appreciates over the course of the mortgage, leaving the landlord with a more valuable asset than he started with.
According to U.S. Census Bureau data, sales prices of new homes (a rough indicator for real estate values) consistently increased in value from 1940 to 2006, before dipping during the financial crisis. Thankfully, sales prices have since resumed their ascent, even surpassing pre-crisis levels.

2. Real Estate Investment Groups

Ideal for: People who want to own rental real estate without the hassles of running it.
What It Takes to Get Started: A capital cushion and access to financing.
Pros: This is a much more hands-off approach to real estate that still provides income and appreciation. 
Cons: There is a vacancy risk with real estate investment groups, whether it’s spread across the group, or whether it’s owner specific. Furthermore, management overhead can eat into returns.
Real estate investment groups are like small mutual funds that invest in rental properties. In a typical real estate investment group, a company buys or builds a set of apartment blocks or condos, then allow investors to purchase them through the company, thereby joining the group. A single investor can own one or multiple units of self-contained living space, but the company operating the investment group collectively manages all of the units, handling maintenance, advertising vacancies and interviewing tenants. In exchange for conducting these management tasks, the company takes a percentage of the monthly rent.
A standard real estate investment group lease is in the investor’s name, and all of the units pool a portion of the rent to guard against occasional vacancies. To this end, you’ll receive some income even if your unit is empty. As long as the vacancy rate for the pooled units doesn’t spike too high, there should be enough to cover costs.
While these groups are theoretically safe ways to invest in real estate, they are vulnerable to the same fees that haunt the mutual fund industry. Furthermore, these groups are sometimes private investments where unscrupulous management teams bilk investors out of their money. Fastidious due diligence is therefore critical to sourcing the best opportunities.

3. Real Estate Trading (a.k.a. Flipping)

Ideal for: People with significant experience in real estate valuation and marketing.
What It Takes to Get Started: Capital and the ability to do or oversee repairs as needed.
Pros: Real estate trading has a shorter time period during which capital and effort are tied up in a property. But depending on market conditions, there can be significant returns, even in shorter time frames.
Cons: Real estate trading requires a deeper market knowledge paired with luck. Hot markets can cool unexpectedly, leaving short-term traders with losses or long-term headaches.
Real estate trading is the wild side of real estate investment. Just as day traders are a different animal from buy-and-hold investors, real estate traders are distinct from buy-and-rent landlords. Case in point: real estate traders often look to profitably sell the undervalued properties they buy, in just three to four months.
Pure property flippers often don’t invest in improving properties. Therefore investment must already have the intrinsic value needed to turn a profit without any alterations, or they’ll eliminate the property from contention.
Flippers who are unable to swiftly unload a property may find themselves in trouble, because they typically don’t keep enough uncommitted cash on hand to pay the mortgage on a property, over the long term. This can lead to continued snowballing losses.
There is a whole other kind of flipper who makes money by buying reasonably priced properties and adding value by renovating them. This can be a longer-term investment, where investors can only afford to take on one or two properties at a time.

4. Real Estate Investment Trusts (REITs)

Ideal for: Investors who want portfolio exposure to real estate without a traditional real estate transaction.
What It Takes to Get Started: Investment capital.
Pros: REITs are essentially dividend-paying stocks whose core holdings comprise commercial real estate properties with long-term, cash producing leases.
Cons: REITs are essentially stocks, so the leverage associated with traditional rental real estate does not apply.
A REIT is created when a corporation (or trust) uses investors’ money to purchase and operate income properties. REITs are bought and sold on the major exchanges, like any other stock. A corporation must pay out 90% of its taxable profits in the form of dividends in order to maintain its REIT status. By doing this, REITs avoid paying corporate income tax, whereas a regular company would be taxed on its profits and then have to decide whether or not to distribute its after-tax profits as dividends.
Like regular dividend-paying stocks, REITs are a solid investment for stock market investors who desire regular income. In comparison to the aforementioned types of real estate investment, REITs afford investors entrée into nonresidential investments, such as malls or office buildings, that are generally not feasible for individual investors to purchase directly. More importantly, REITs are highly liquid because they are exchange-traded. In other words, you won’t need a realtor and a title transfer to help you cash out your investment. In practice, REITs are a more formalized version of a real estate investment group.
Finally, when looking at REITs, investors should distinguish between equity REITs that own buildings, and mortgage REITs that provide financing for real estate and dabble in mortgage-backed securities (MBS). Both offer exposure to real estate, but the nature of the exposure is different. An equity REIT is more traditional, in that it represents ownership in real estate, whereas the mortgage REITs focus on the income from mortgage financing of real estate.

The Bottom Line

Whether real estate investors use their properties to generate rental income, or to bide their time until the perfect selling opportunity arises, it’s feasible to build out out a robust investment program by paying a relatively small part of a property’s total value up front. But as with any investment, there is profit and potential within real estate, whether the overall market is up or down.

You may also like…

HOW TO MAKE IT IN COMMERCIAL REAL ESTATE
MORTGAGE RATES DROP 4%

Content from Investopedia at Investopedia.com, June 05, 2019 | BY ANDREW BEATTIE | Updated May 27, 2019

Mortgage Rates Drop to 4%

For the first time in a year and a half, long-term mortgage rates have dropped below 4 percent. 

On Thursday, May 30th Freddie Mac reported mortgage rates are now at 3.99 percent with an average 0.5 point as the average for a 30-year mortgage, down seven basis points from last week. Long-term rates haven’t fallen below 4 percent since January 2018. 

“While economic data points to continued strength, financial sentiment is weakening with the spread between the 10-year and the 3-month Treasury bill narrowing as fears of the impact of the trade war with China grow,” Freddie Mac’s Sam Khater said in a release. “Lower rates should, however, give a boost to the housing market, which has been on the upswing with both existing and new home sales picking up recently.”

The UrbanTurf / Menkiti Group Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

You may also like…

HOW TO MAKE IT IN COMMERCIAL REAL ESTATE

Content from Urban Turf Staff at dc.UrbanTurf.com, May 30, 2019

Cheers to Careers! Real Estate Industry Panel Discussion

The award-winning MG Residential Sales Team is currently hiring for passionate real estate professionals licensed in DC, MD, and VA, who seek career growth and can see themselves embracing our mission of Transforming Lives, Careers, and Communities through Real Estate.

Join us on Wednesday, May 15th from 5:30-7:00 PM for a happy hour and panel discussion with four of our Neighborhood Experts and learn how a full-service team culture may benefit you and your business. Registration is requested: http://bit.ly/2ZMt3ey