The City Paper reports that the former Italian Embassy, having gone on the market last year, has finally sold. Valor Development of Bethesda plans to turn the building into condos, calling it “The Flats at Il Palazzo,” because, I don’t know, an Italian name makes overpriced condos sexier?
Greater Greater Washington points out that the embassy’s move had been in the works for nearly 30 years, and it finally moved in 2000. The Italian ambassador got mugged in Meridian Hill Park in 1971 and wanted a less crime-ridden area. So the Italian government bought the new property, it took 29 years to move into it, and then another 9 to put the old one on the market. So the old embassy has been standing vacant for 10 years, and Valor expects to put the condos on the market next summer.
Good luck with that.