The brick buildings at 3325-3327 Brighton Blvd. sold for $3.5 million. (Thomas Gounley photo)
A pair of buildings along Brighton Boulevard linked to a father-son real estate feud have sold to a different father-son team.
Brij Khandelwal and Alex Khandelwal of Halogen Capital, acting as 3125 Brighton LLC, paid $3.5 million last week for the one and two-story structures at 3325 and 3327 Brighton Blvd. Blue Federal Credit Union provided financing for the deal.
Alex Khandelwal, who is Brij’s son, said the buildings are about 11,218 square feet combined, and both are occupied. Howdy, a marketing agency, operates at 3325 Brighton and Converge Denver, a nonprofit coworking space that says it is designed for “creatives and culture shapers,” is at 3327 Brighton.
“We don’t have any immediate plans right now,” Khandelwal said. “We acquired the property because we think it’s really well located along Brighton Boulevard.”
The property is 0.43 acres and is zoned for up to eight stories, records show. Khandelwal noted it’s within the 38th and Blake overlay district, which allows developers to build higher than the base zoning if they meet certain requirements regarding income-restricted housing.
Khandelwal said redevelopment is likely down the road, although he doesn’t have a specific timeline.
“Keeping the buildings would be nice, but I think the best use would be higher density,” he said.
The Khandelwals also own multi-tenant retail buildings at 42nd Avenue and Tennyson Street in Berkeley and at 460 Broadway in Baker.
The RiNo property was sold by 3134 Walnut Street LLC, which paid $560,690 for it in November 2004, records show. That entity is owned by Littleton resident Larry Burgess and his wife, as well as his son Neville, according to a lawsuit filed in December by Neville Burgess, who alleged his father was defrauding the entity.
Although the bulk of the lawsuit referenced properties in the 3700 block of Delgany Street, the 3325-3327 Brighton Blvd. property was mentioned once.
The lawsuit was dismissed in late January after the two sides reached a settlement contingent on the sale of real estate, although the public court filings do not specify which property or properties were to be sold. Larry Burgess and attorneys representing him and Neville Burgess did not respond to requests for comment on Tuesday.
The brick buildings at 3325-3327 Brighton Blvd. sold for $3.5 million. (Thomas Gounley photo)
A pair of buildings along Brighton Boulevard linked to a father-son real estate feud have sold to a different father-son team.
Brij Khandelwal and Alex Khandelwal of Halogen Capital, acting as 3125 Brighton LLC, paid $3.5 million last week for the one and two-story structures at 3325 and 3327 Brighton Blvd. Blue Federal Credit Union provided financing for the deal.
Alex Khandelwal, who is Brij’s son, said the buildings are about 11,218 square feet combined, and both are occupied. Howdy, a marketing agency, operates at 3325 Brighton and Converge Denver, a nonprofit coworking space that says it is designed for “creatives and culture shapers,” is at 3327 Brighton.
“We don’t have any immediate plans right now,” Khandelwal said. “We acquired the property because we think it’s really well located along Brighton Boulevard.”
The property is 0.43 acres and is zoned for up to eight stories, records show. Khandelwal noted it’s within the 38th and Blake overlay district, which allows developers to build higher than the base zoning if they meet certain requirements regarding income-restricted housing.
Khandelwal said redevelopment is likely down the road, although he doesn’t have a specific timeline.
“Keeping the buildings would be nice, but I think the best use would be higher density,” he said.
The Khandelwals also own multi-tenant retail buildings at 42nd Avenue and Tennyson Street in Berkeley and at 460 Broadway in Baker.
The RiNo property was sold by 3134 Walnut Street LLC, which paid $560,690 for it in November 2004, records show. That entity is owned by Littleton resident Larry Burgess and his wife, as well as his son Neville, according to a lawsuit filed in December by Neville Burgess, who alleged his father was defrauding the entity.
Although the bulk of the lawsuit referenced properties in the 3700 block of Delgany Street, the 3325-3327 Brighton Blvd. property was mentioned once.
The lawsuit was dismissed in late January after the two sides reached a settlement contingent on the sale of real estate, although the public court filings do not specify which property or properties were to be sold. Larry Burgess and attorneys representing him and Neville Burgess did not respond to requests for comment on Tuesday.
