Coakley Realty Press Release – Silver Spring

Coakley Realty on a Roll in Silver Spring, MD

One of the area’s foremost real estate firms recently facilitated an assortment of transactions in the fast-growing Silver Spring area

ROCKVILLE, MD — October 9, 2015 – Rory S. Coakley Realty, Inc. (Coakley Realty), a premier full service residential and commercial real estate company in the Washington D.C. metropolitan area for over 25 years, announces a variety of complex transactions completed in Silver Spring, demonstrating the company’s commitment and diverse capabilities to successfully represent their client’s real estate needs.

Coakley Realty has continued to expand its footprint in the burgeoning Silver Spring area with a recent flurry of real estate activity, including:

• 10 Post Office Road – Rory S. and Rory P. Coakley represented FBS, LLC for the purchase of 10 Post Office Road. Stemming from the Coakley Realty teams’ knowledge and expertise, they proposed a real estate tax appeal under the “60 day rule,” reducing the assessment from $3,827,000 to $2,250,000. This will save the new owners nearly $20,000 annually in real estate taxes. The building will serve as FBS, LLC’s headquarters facility. The Montgomery County landmark, also known as the “Castle Building” features vintage architecture including stone features that resemble a castle.
• 625 & 627 Sligo Avenue – Rory S. Coakley and Kathleen Meyer represented the owners of two commercial properties, Sligo Creek, LLC, (625 Sligo Avenue) and Sligo LLC (627 Sligo Avenue). These were two separate transactions with Redrock Films (Producers of ‘Shark Week’ films) purchasing 625 Sligo Avenue for $430,000 and Almaz Gethun purchasing 627 Sligo Avenue for $395,000.
• 8209 2nd Avenue – Coakley Realty performed a commercial appraisal for a non-profit group for a property at 8209 2nd Avenue. The appraisal was utilized in the transfer of real property from a private owner to the non-profit group.
• 813 Silver Spring Avenue – Rory S. and Rory P. Coakley represented R&R Lighting at 813 Silver Spring Avenue as leasing consultants for 50% of the building. The Coakley’s procured the Ethiopian Broadcasting Service (EBS) to lease the first floor of the building. EBS is a prominent player in the rapidly-growing Ethiopian community in Silver Spring. Coakley Realty Management LLC, a Coakley Realty affiliate, has taken over day-to-day management of the building.

“At Coakley Realty, being an advocate for our clients is of utmost importance to us,” said Rory S. Coakley, President of Coakley Realty. “Through our ability to serve the local market as a full-service company for sales, leasing, property management, tax appeals and appraisals, we’re able to deliver tailored solutions to accommodate the differing transactions and properties for our clients. In our transactions in Silver Spring, we focused on identifying solutions that will enhance our clients’ property ownership for years to come.”

About Coakley Realty

Founded in 1989, Coakley Realty is a premier full service residential and commercial real estate company in the Washington D.C. metropolitan area specializing in residential and commercial real estate sales and leasing, property management, tax appeals, appraisals
and litigation support. Coakley Realty’s staff of experienced and knowledgeable real estate consultants offers home buyers, home sellers and business owners the best in real estate services and higher levels of expertise in analysis and negotiating skills. For more
information, please visit www.coakleyrealty.com or follow us on Twitter @coakleyrealty or www.twitter.com/coakleyrealty and on Facebook at www.facebook.com/coakleyrealty.

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