Dec
18

Greenville Area Townhomes Sold for $60,457/Unit

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addison THAddison Townhomes, which includes 53 townhomes located at 104 Watson Road in Taylors, SC has been sold. The community was 96% occupied at the time of sale, and although it was originally built in 1978, the interiors and exteriors were completely renovated over the last two years. It sold for $3,204,204, or $60,457 per unit. The Buyer was Two Bridges Asset Management, LLC, out of Brooklyn, NY, and they were represented by Tyler Flesch of Red Drum Capital.

“The Addison Townhomes transaction mirrors the turnaround story of the Greenville multifamily market. Once a thriving community in the late 1970’s, Addison fell on hard times during the last downturn. After being completely renovated in 2012 by our locally based sellers, the property once again became a destination community with nearly 100% occupancy,” said Tony Bonitati, multifamily broker at NAI Earle Furman.

Tony Bonitati,  Kay Hill and Bern DuPree of NAI Earle Furman’s Multifamily Division represented the Seller, CRESOF Addison, LLC, in the sale.

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