Pinnacle Announces the Sale of 1575 Lafayette Street
Posted on May 18, 2018
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of The Lafayette Apartments at 1575 Lafayette Street in Denver. The 41-unit Victorian apartment building sold for $9,525,000, or $232,317 per unit and $387.77 per square foot. JB Hochman, Principal, and Erik Toll, Associate Advisor, represented the buyer and seller in the transaction.
“The seller refurbished the property in such a manner that preserved its classical feel, all the while offering tenants modern appliances and ample amenities,” stated Toll.
“The property’s central location and desirable unit mix rendered it an ideal acquisition candidate for the buyer, a Chicago-based REIT,” added Hochman. “It is a unique opportunity and we expect them to excel here.”