The historic building owned by the Pakistani embassy in Washington has had its status downgraded by the District of Columbia authorities due to its deteriorating condition.
The local government has reportedly changed the category for the government of Pakistan’s ageing and now-collapsing structure, according to a report published by the Pakistani newspaper ‘The News International’.
The renowned R Street structure, which was once a chancery, was auctioned off in the latter part of last year. The report states that because of the status downgrading, taxes on the property’s assessed value will increase.
Later, the entire bidding procedure was cancelled by Pakistani officials. The highest bidder submitted a proposal of $6.8 million for the property, which is situated in the heart of the city.
The pre-auction evaluation of the structure on a “as is” basis had a benchmark price of $4.5 million.
