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Linda Fritz-Salazar
Associate Broker
Senior Partner
Call 602.989.9487
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Jon Coffen
Senior Partner
Call 602.653.3600
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Weekly Apartment Closing Update through
May 2, 2019
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Property Name
Address
City |
No Units
SF |
Sales Price
Price/SF
Unit SF Avg. |
Sale Date
Year Built |
Unit
Price |
Unit Mix, % Down Payment, Lender; Previous Sale Date and Amount |
Grande Vista
834 N. 13th Avenue
Phoenix |
24
13,600 |
$1,980,000
$145.59
567 SF |
4/30/2019
1961 |
$82,500 |
8-0/1's, 8-1/1's, 8-2/1's;1% Down; New Loan First Bank for $2,030,000; Last Sale: 9/9/2005 $740,000 |
Palo Verde
220 S. 3rd Avenue
Avondale |
16
11,088 |
$1,400,000
$126.27
693 SF |
4/30/2019
1963 |
$87,500 |
Mix Unknown; Cash Sale; Last Sale: 11/1/2007 $239,909 |
Modern on Peoria
8650 W. Peoria Ave.
Peoria |
216
188,991
|
$26,000,000
137.63
$875 SF |
4/30/2019
1984
|
$120,370 |
144-1/1's, 72-2/2's; 15% Down; New Loan: M & T Bank, Last Sale: 07/2017 $19,000,000 |
Tides at Scottsdale
4020 N. Parkway Ave.
Scottsdale |
24
10,273 |
$3,000,000
$292.03
426 SF |
5/1/2019
1961 |
$125,000 |
22-0/1's, 2-1/1's; 30% Down; New Loan: Opus Bank; Last Sale: 11/2016 $2,075,000 |
Missouri Crest
1625 W. Missouri Ave
Phoenix |
29
22,700 |
$2,600,000
$114.54
783 SF |
5/1/2019
1963 |
$89,655 |
20-1/1's, 8-2/2's, 1-3; 30% Down; New Loan: Keystone Com'l; Last Sale: 4/25/2013 $1,420,000 |
Tierra Antigua
339 N. 75th Street
Mesa |
174
185,850 |
$17,400,000
$93.62
1,068 SF |
5/1/2019
2003 |
$100,000 |
18-1/1's, 78-2/2's, 78-3/2's; LLIHTC/Tax Credits; Rent Restricted to 2035; 30% Down; New Freddie Mac Loan; No Prior Sale; |
| Mode@21 Street & Turney,
4401-4405
N. 21st St. Phoenix |
16
11,022
|
$3,000,000
$272.18
689 SF |
5/1/2019
1950, 1971 |
$187,500 |
3-1/1's, 12-2/1's, 1-3; Cash Sale; Renovated; Last Sale: 7/31/2017 $1,025,000 |
Revival on 40th
1818 N. 40th Street
Phoenix |
63
52,818 |
$5,775,000
$109.34
838 SF |
5/3/2019
1981 |
$91,667 |
39-1/1's, 24-2/2's; 13% down; New Loan: BOKF; Last Sale: 10/2015 $3,710,000 |
Bella Norte & Metro on 19th, 1922 W. Palmaritas, Phoenix
|
488
246,937 |
$39,750,000
$160.97
506 SF |
5/3/2019
1979 |
$81,455 |
192-0/1's, 220-1/1's, 73-2/1's; M/M; New Loan for $39,000,000 w/Colony Northstar; Last Sale: 10/2017 $24,700,000 |
Containers on Grand
1128 N. Grand Ave.
Phoenix |
8
5,959 |
$1,220,000
$204.73
745 SF |
5/3/2019
2015 |
$152,500 |
All 1/1's; 26% Down; Seller Carry; No Prior Sale |
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A few slow weeks in sales, then 10 for last week. Fundamentals in Phoenix Metro continue to be in top Five of the the National Market.
Lots of Buyers want "in" to our market. Financing is still attractive and we continue to see a Seller's market.
Data Source: CoStar, BREW, Vizzda plus personal information
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Map of Available Apartments
We keep track of all apartments advertised. The interactive map shows the location and amount of units. Please check out our interactive map or for more details or contact us at 602 677 0655.
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About Us
The Kasten Long Commercial Group has specialized in apartment brokerage in metro Phoenix since 1998. Our agents have brokered more than 1,000 communities with gross sales in excess of 1 billion dollars.
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Kasten Long Commercial Group
5110 N 40th Street, Suite 110 Phoenix, AZ 85018
Designated Broker - Jim Kasten, CCIM
602 445 4113 office - 602 677 0655 cell
[email protected]
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