The site of the former Ibiza nightclub is being readied for its next life.
D.C. developer Altus Realty bought the property at 1222 First St. NE for $10.5 million from owner 1222-1st Street NE LLC, and plans to either build a hotel or multifamily there, according to Altus partner Charlie Kehler.
Though Kehler declined to discuss the project further, the corporate registration of the entity that bought the property contains a big clue that a boutique brand hotel may be in the cards. One of the…
