Nov
19

Greenville Apartments Sold for $231,593/Unit

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w brandenBerkadia announced today the sale of West Village Lofts at Brandon Mill, located at 25 Draper St. in Greenville, SC. Managing Director Mark Boyce, Director Jeremiah Jarmin and Associate Blake Coffey negotiated the transaction. West Village Lofts at Brandon Mill sold for $42.15 million on November 14. The sales price reflects a per-unit price of $231,593, and the property was occupied in the mid-90’s at the time of the sale.

“Our client developed the project through the Historic Tax Credit program and South Carolina’s specially-assessed property tax incentive. The execution of this transaction highlights how developers can generate tremendous value while simultaneously improving communities and the overall character of the sub-market through a creative approach,” said Jarmin.

Redeveloped in 2017, the 182-unit property features one-, two-, and three-bedroom floor plans. Each unit features ceilings at least 15 feet tall, dramatic floor-to-ceiling windows, stained concrete floors, exposed brick interiors and contemporary-style interiors with monochromatic appliances. Notable community amenities include a pool, a fitness center, a wine cellar, a dog park, a clubroom and an outdoor living space with grills and fire pits.

Categories : Greenville

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