Our nation’s capital is ringed with Apple stores in Virginia and Maryland, but until now has not hosted a store within the District itself. Apple is now finalizing a real estate deal for a flagship store on what’s called “the best corner of the most powerful city in the world,” at Wisconsin and M Street NW in the city’s Georgetown area. The space at 3150 M Street NW is now occupied by the legendary Nathan’s Restaurant, a Zagat-rated, wood-paneled hang-out for those who crave American classic cuisine. The restaurant’s lease expires in April 2009, but the operation will vacate in late 2008, leaving a 2,500 square-foot lot for Apple to develop into a two or three-story flagship store.
The area is booming, especially with in influx of high-end retailers, some destined for the Shops at Georgetown Park mall in the adjacent block. The space is owned by the Heon family, which has reportedly been charging Nathan’s $20,000 a month for the three-story building. DC real estate experts say the area has become too expensive for restaurants, forcing Nathan’s owner Carol Joynt to find another spot.The land is assessed by the city at $519,000, and the building at $788,050.
The building is not heritage classified, but the area is within an historic district, so approval would be required for Apple to demolish the building and put up a new structure, a process that is reportedly not as difficult as some other cities. Fortunately, the Shops at Georgetown Park includes a 650-car underground parking garage, in the midst of an area with very limited street parking.
Check this Web page and video for more information about Nathan’s, and the Q & A Cafe that has made it even more famous.
Update: Carol Joynt, who operates the restaurant, says she has no set plans on moving from the building, let alone leaving before the lease is up. She says the building owner has received inquiries from various retailers, but she has not heard those include Apple. On Oct. 2nd she says the “hot word on the street” is that Apple purchased the building housing the French Connection women’s clothing store at 1229 Wisconsin Ave. NW for $13.7 million, which is just 300 feet north of the Q & A Cafe. Read this story.
