Property sells for 292 apartment units

Denver County

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

Financing: Cash

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.