Denver, CO – September 1, 2022 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 1440 Clarkson St., Denver, CO 80218.
Hunter Schaefer of NorthPeak Commercial Advisors represented the seller while Conner Piretti and Greg Johnson of NorthPeak Commercial Advisors represented the buyer in this transaction.
“This deal recently sold twice after the client was originally engaged and put the deal under contract nearly 18 months ago. Since then, the Seller was able to obtain construction permits after a difficult, 12 month process with the city, which added tremendous value to the deal. We were happy to collaborate within NorthPeak to find the perfect Buyer in a 1031 exchange who is excited to finish repositioning the building. They will likely spend in excess of $2 million to reposition the property.”
-Hunter Schaefer, NorthPeak Commercial Advisors.
“A local investment group will completely gut and renovate the 1902 structure with plans to deliver 20 upscale apartments in the Summer of 2023. We did a similar project with this group 2 years ago and we know they have the vision and horsepower to pull this off. It’s a great project for them.”
-Greg Johnson, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Hunter Schaefer at 925-989-8930 or Hunter@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 1440 Clarkson St., Denver, CO 80218
- Sale Price: $2,600,000
- Sale Date: August 24, 2022
- Property Size: 8,121 SF
- Number of Units: 20
- Property Type: Multifamily
