Excellence in
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1 9 9 9
A W A R D

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C O N T A C T
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The exterior of
400 First St. NW,
Washington, D.C.
is marble
and granite
and offers
a splendid view
of the nation's
Capitol.
109 Prince Street,
New York City
captured the
1994 New York
Landmarks Preservation Commission Award
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
R E A L X E S T A T E X D E V E L O P M E N T
400 First Street, NW
Washington, D.C.

Continental Group was responsible for the original $20 million sale of the building in 1995, procurement of $14 million in financing for the building’s extensive renovations, as well as development and construction management. For Edward "Ziggy" Rutan, president and CEO of Continental Group, the Washington project involved a multitude of responsibilities for the high profile, class A, 8-story marble and granite office building which was vacant for three years but offered a splendid view of the Capitol. To begin with, Continental Group negotiated a lease with the U.S. Dept. of Justice who eventually occupied the building’s entire 97,000 sq. ft. of space. Continental Group’s role in the building’s development and renovations included asbestos removal, interior demolition while preserving the structure’s 1959 marble and granite exterior, the addition of a stunning 2-story lobby with curved dome, chandelier, marble floors and major exterior improvement. These included new mullions and dropping the building’s eavesline down to the seventh floor to give the high-end structure the finishing touch of a glorified penthouse.

Continental Group performed all of the pre-purchase due diligence and feasibility studies. Acting as developer including the functions of property management, financial analysis, lender negotiations and construction management, the project was successfully completed and dedication was held in February of 1996. After project completion, Continental negotiated its sale to the United States Government for $19,300,000.

1920 L Street, Washington, D.C.

This Continental Group project begun in 1992 consisted of renovation of an 8-story office building and 4-level parking garage in conformance with new building codes. Having performed all of the pre-purchase due diligence and feasibility studies, the group also acted as asset managers, advising the investors on re-development strategies based on scenario studies Continental conducted. During negotiations with the Secret Service for a twenty-year full building lease, a purchase offer far above the original purchase price was accepted. The building was sold in February of 1998 for $15 million. Continental Group is currently continuing with the new owners as consultant on further lease negotiations.

Wendy's Old Fashioned Restaurant, Fishkill, N.Y.

Acting as developer and purchase negotiator during this 1995 project, Continental Group represented Wendy's through stringent Planning Board reviews and provided engineering and survey services. With a location in the revered historic district of the village, this project aroused extensive controversy and was further complicated by the need for several variances as well as a subdivision approval from the Planning and Zoning Boards. With all approvals successfully procured, construction and a fast-track approval process were completed within 90 days.

109 Prince Street, SoHo, New York City

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Merritt Park, Fishkill, New York
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