Jul
09

Charlotte’s The Vue Converting to Apartments

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It’s official: Northwood Investors , the New York investment firm that won The Vue Charlotte at a foreclosure auction earlier this month, is converting the 391 unsold condo units to luxury apartments.

David Ravin, president and chief executive of Northwood Ravin, says his firm began setting up a sales center at the property this morning and will be able to write leases shortly. The units will lease for $1,300 to $5,000 per month, he says.

“We’re anticipating good demand,” says Ravin, who formed a joint venture with Northwood after he left Crosland. “There are certainly other things coming, but not really comparable in terms of location or type of product.”

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