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The owners of the former restaurant, which opened in 1983 and closed in 2020, paid $1.3 million for the 0.57-acre lot at 650 N. Sherman St. in 2003.
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The owners of the former restaurant, which opened in 1983 and closed in 2020, paid $1.3 million for the 0.57-acre lot at 650 N. Sherman St. in 2003.
Fredric Reynolds and his wife Lundy purchased the property at 480 Cook St. for $4.3 million in 2016.
“I didn’t want to watch someone tear it apart,” said Hasan Al-Mabuk, a member of the redevelopment team who will move into one of six new townhomes.
The 110-unit project by Palisade Partners would replace a low-slung parking garage on a 0.36-acre lot.
The Chicago-based apartment developer, whose first Denver property has 455 units and 800 more units on the way, “does a few things completely different.”
A married couple paid $2.96 million for 133-year-old Marion Manor, a lot less than the $5.68 million it was listed for in 2019.
The chairman of Fentress Architects paid the most: $7.85 million for a 14,239-square-foot home on 2.6 acres overlooking Cherry Hills Country Club.
The average price of a single-family home reached a record $629,159 last month and attached properties also hit a high with an average price of $397,792.
The 2.7 acres at 1300 40th St. is the first Denver property that Charlotte-based Crescent Communities has acquired, but it is already eyeing others.
News that a nonprofit planned to sell two-thirds of the LoHi garden prompted a backlash but it sold the property for $1.2 million anyway.
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