Iconic Investments LLC snags Cherry Creek site for $204 per square foot

Denver County

Property Location: Northwest corner of Garfield St & East 2nds Ave. (201 Garfield St.), Denver

Property Description: Vacant land, plans for 26 unit, three-story apartment building

Land Size: 37,496 sf

Sales Price: $7.65M, or $204.00 psf, or $294,231 per buildable unit

Reception No: 2018086674

Closing Date: 7/13

Grantor: Newberry Family LLC (Kien Arnold, mgr.), 303-322-0443

Grantee: Garfield Development, c/o Iconic Investments (Michael Fancher, pres.), www.investiconic.comor 303-406-1393

Financing: $5.36M payable to Collegiate Peaks Bank Division of Glacier Bank

Comments: See APN: 1573-28-4-00-002. Slated for 26-unit, three-story apartment building with 36 parking spaces. There will be three buildings. Building 1 contains 8 units with 6 parking spaces, building 2 contains 10 units and 8 parking spaces and building 3 contains 8 units with six parking spaces. The four garages will contain as follows: Garage A – two spaces; Garage B – six spaces; Garage C – six spaces & Garage D – two spaces.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.