Well, Georgetown, you got your wish. Some kind of eatery will indeed return to the southeast corner of Wisconsin Avenue and M Street, site of the legendary Nathans Restaurant. It’s innovative, but may not be what you expected: It’s a Capital One Café.
The 3150 M St. NW property, renovated by Kevin Plank’s Sagamore Development, was sold a few weeks ago to Capital One Bank for $50.2 million. (For $10 million per year, Capital One also just bought the naming rights to the former Verizon Center, now Capital One Arena.)
With its Capital One Cafés, the company is redesigning the banking experience, it says. “We want to empower people to feel confident about their relationship with money so their money can ultimately fit their lives. That begins with redesigning the banking experience to make things simple and straightforward. Most of us prefer a digital experience, but many of us want that human connection, too — that is where Capital One Cafés come in.”
Here’s how the company describes its new cafés, which partner with Peet’s Coffee: “At the intersection of both the digital and physical worlds are the Capital One Cafés — a space that’s intentionally designed for how people live and bank today. The new locations will serve as a community space where D.C. residents can recharge their bank accounts, devices and lives, while learning new ways to manage their finances, try out new digital and financial tools, use fee-free ATMs, tap into free Wi-Fi, or simply grab a great cup of coffee or local pastries.”
Georgetown and Chinatown will be the first D.C. neighborhoods to get the sip-and-banks by late next year. Others are already perking away in California, Florida and Massachusetts.
Headquartered in McLean, Virginia, Capital One — which considers itself a hometown bank of Washington, D.C. — is a bank holding company that is the ninth-largest bank in the U.S. in terms of assets.