Denver, CO – March 14, 2025 – NorthPeak Commercial Advisors is pleased to announce the sale of The Patrician located at 1075 Corona St., Denver, CO 80218. The Patrician boasts 36 over-sized apartments, a 23-car underground garage and a beautifully landscaped courtyard. Built in 1955, this was only the second time this iconic property has ever been sold.
Greg Johnson and Conner Piretti of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.
“We say these opportunities don’t come often, and it’s absolutely true in this case,” said Johnson, noting the original owner held the property for three generations.
“This is the Buyer’s first purchase in Denver, and we enjoyed introducing him to the dynamics and intricacies of our local market,” remarked Piretti. “Cornerstone Apartment Services will continue management for the new owner.”
For more information on this investment or current market conditions, please contact Greg Johnson at (303) 810-1328 or Greg@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 1075 Corona St., Denver, CO 80218
- Sale Price: $10,800,000
- Close Date: March 14, 2025
- Total Units: 36 ($300,000/Unit)
- Property Size: 47,902 SF ($225/SF)
- Cap Rate: 4.8%
- Property Type: Multifamily
