Property Location: SEC West 16th Ave. & Grove St., 1570 Grove, Denver
Property Description: Land value, proposed seven-story, 292-unit apartment
Land Size: 91,897 sf
Sales Price: $13.2M, or $143.64 psf, or $45,205 per buildable unit
Density: 138.39 d/u per acre
Reception No.: 2019013464
Closing Date: 2/6
Grantor: JP Grove LLC, c/o Jordon Perlmutter Co., Jay Perlmutter, mgr.
Grantee: UDR 1590 Grove LLC, c/o UDR, aka United Dominion Realty Trust, Jerry A. Davis, 720-283-6120, & Joseph Fisher, CFO, 720-283-6139
Comments: Proposed 292-unit apartment with 58 studios, 171 one-bedroom units, 60 two-bedroom units and three three-bedroom units. The building will contain 281,735 sf gross building area and a 140,588-sf parking garage, for 340 parking spaces, including seven accessible spaces and two compact 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.