2017 Key Stats and Closings

By Carly on January 31, 2018

Check out 33’s 2017 Year End Closing Stats and Recap:

PORTFOLIO SALE:

4611 & 4520 S. Drexel / Sale Price : $9,200,000 / 112 units

5.5% Cap Rate / $82k door (record setting)

Our team stays ahead of the market to assess on-going demand in their geo-targeted areas of expertise, not relying on past values.

 

CONDO DECONVERSION: 

4700 N. Winchester / $6,475,500 / 25 units

33 represented 4700 N. Winchester Condominium Association in the sale to a private investor which will de-convert the building from condos into rental apartments.

Property sold for a pro-forma 5.5%

 

 

ADD VALUE SALE:

4520 N. Malden $4,300,000 / 34 units

Affordable asset remaining on property with short term opportunity to bring property to market rate.

Complicated transaction requiring multiple third party approvals resulted in optimal price for seller and an on-strategy hold for buyer.

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