$2 Million Declined for $200,000 House

On the same day that I wrote the previous post (see below) I happened to come upon the infamous Ledo Pizza site on Mass Ave NW. Fortunately on this day I had my camera.

The owner, Mr Spriggs, turned down an offer upwards of $3 million from both Broadway Development and Penzance Company to purchase the 'spike' in the way of their development. At the time many would have called him rediculous for turning down such an offer on a home assessed by the DC Government at $199,000. Well, it didnt seem to phase him. Consistently turning down phone calls and meetings, he continued with his dream.

The two-story row home located quite inappropriately between two of the cities newest additions. This building, located in between the Dumont Condos, currently being built, and Penzance Company's 12 story commercial structure has been closed since construction started. The owner has plans though. He recently took out a $650,000 loan to open a Ledo Pizza on the site and will continue to sit tight while the city gets built up around him.

Good luck Mr Spriggs.