The Prospect on Central apartment complex in LoHi sold for $34 million. (Lucy Peterson photo)
The Salazar family has sold a LoHi apartment complex that it developed a decade ago.
Prospect on Central, the 57-unit building at 2500 17th St., sold this week for $34 million, according to Rob Salazar, the health care entrepreneur who formed Denver-based family office Central Street Capital.
The buyer was 1661 Central Operator LLC, according to public records. The entity lists an office address in Golden.
The building’s ground-floor retail space is leased to Metropolis Coffee, Rush Bowls, 303 Beauty Bar and Northside Eatery + Market.
The deal works out to $596,491 per residential unit, or about $544,000 per unit if you value the retail space at $3 million total, Salazar said. The building is 98 percent leased.
The Salazar office originally purchased the property for $1.1 million in May 2003, records show. The complex was completed in 2012.
Much of Central Street’s development activity has focused on LoHi and Globeville, where the firm owns the Assembly Student Living apartment complex and is planning another one in the 4000 block of Fox Street. In LoHi, the firm has proposed building a hotel a block from Prospect on Central, although Salazar said planning remains on hold in the wake of the pandemic.
The firm is also involved in the development of the Glendale Entertainment District, which is slated to break ground later this year in the municipality surrounded by Denver.
Salazar and his wife Lola also recently listed for sale their mansion in southwest Denver.
The Prospect on Central apartment complex in LoHi sold for $34 million. (Lucy Peterson photo)
The Salazar family has sold a LoHi apartment complex that it developed a decade ago.
Prospect on Central, the 57-unit building at 2500 17th St., sold this week for $34 million, according to Rob Salazar, the health care entrepreneur who formed Denver-based family office Central Street Capital.
The buyer was 1661 Central Operator LLC, according to public records. The entity lists an office address in Golden.
The building’s ground-floor retail space is leased to Metropolis Coffee, Rush Bowls, 303 Beauty Bar and Northside Eatery + Market.
The deal works out to $596,491 per residential unit, or about $544,000 per unit if you value the retail space at $3 million total, Salazar said. The building is 98 percent leased.
The Salazar office originally purchased the property for $1.1 million in May 2003, records show. The complex was completed in 2012.
Much of Central Street’s development activity has focused on LoHi and Globeville, where the firm owns the Assembly Student Living apartment complex and is planning another one in the 4000 block of Fox Street. In LoHi, the firm has proposed building a hotel a block from Prospect on Central, although Salazar said planning remains on hold in the wake of the pandemic.
The firm is also involved in the development of the Glendale Entertainment District, which is slated to break ground later this year in the municipality surrounded by Denver.
Salazar and his wife Lola also recently listed for sale their mansion in southwest Denver.
