Pinnacle Announces the Sale of 1139 York Street
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1139 York Street in Denver, Colorado. This 17-unit property sold on January 14th with a contract price of $2,775,000; $163,235 per unit and $269.34 per square foot.
The property was constructed in 1962. Jim Knowlton and Robert Lawson, Senior Advisors at Pinnacle Real Estate Advisors, and Chris Knowlton, Associate Advisor at Pinnacle Real Estate Advisors, represented the seller, and JB Hochman and Justin Brockman, Senior Advisors at Pinnacle Real Estate Advisors, represented the buyer.
“The seller was looking to take advantage of the hot multifamily market and reduce his management obligations by selling this property and doing a 1031 exchange into two NNN retail properties,” said Jim Knowlton.