If you’ve passed through Logan Circle during the day recently, you might have noticed that Sam’s Pawnbrokers at 1508 14th St. NW has been shuttered most of the time, and there’s a big FOR SALE sign on the building. Well, broker Wayne Dickson tells me it’s under contract, and that the pawn shop will be leaving after the deal scheduled to close on May 31 (I’ve been calling the shop, and nobody picks up).
It’s the end of an institution, really. The shop has been operating since 1943, and in that location—-a former bakery built in 1875—-since 1969. Metropolis Development tried to buy the building to build condos in 2004, but owner Jay Levy wasn’t ready to sell, waiting for its price to rise with the real estate values around it.
“The analogy is kind of like owning a home in the D.C. area,” Levy told the BizJo. “You can get a lot of money for your house, but where are you gonna go?”
Sam’s departure will leave feisty Crown Pawnbrokers as the only pawnshop on 14th Street, with the others on H Street, Wisconsin Avenue in Georgetown, upper Georgia Avenue, and Woodridge.