MADISON COMMERICAL PROPERTIES ANNOUNCES THE SALE OF GREENTREE APTS
DENVER, June 20, 2013 – Madison Commercial Properties announces the sale of the Apartments at 1235 Clayton Street in Denver’s Congress Park neighborhood for $1,710,000. The Greentree was built in 1969, and consists of 17 units: all one-bedroom apartments. The sales price equates to just over $100,500 per unit, and around $180 per square foot.
Kyle Malnati and Greg Johnson, principals of Madison Commercial Properties, represented the buyer in the transaction. “The owner preferred an off-market sale, and we were able to match them with the perfect buyer for their building,” stated Mr. Johnson. “There were multiple offers on the table, but we presented the best solution.”
The Greentree Apartments are located in the heart of Congress Park, close to Cheesman Park and the Denver Botanic Gardens. “The property benefits from abundant off-street parking, which is unique in the neighborhood, and is within easy walking distance of Shells & Sauce, Chef Zorba’s and Dazbog coffee,” stated Mr. Malnati.
“This purchase completed a 1031 Exchange for our client,” added Mr. Malnati.
About Madison Commercial Properties
Madison Commercial Properties is a Denver-based commercial real estate firm specializing in apartment brokerage and investment sales in central Denver. Managed by Kyle Malnati and Greg Johnson, Madison Commercial Properties is a division of Madison & Co. Properties. For more information, please visit http://www.madisonprops.com or http://www.DenverApartmentBuildingsForSale.com.