Capitol Hill Site Scooped Up By New York Company for $8.45M
A Capitol Hill multifamily property has sold for $264K per unit, Newmark Knight Frank said in a statement.
The Kentom Apartments, a four-story, 32-unit community, sold for $8.45M to New York-based Urban American Management. It is located at 1540 Grant St. and was sold by Classic Properties of Denver. NKF represented the seller.
The property was built in 1908, and according to NKF Executive Managing Director Justin Hunt, it has been "immaculately" maintained and restored.
The Kentom Apartments is located less than a block from the Colorado State Capitol, and less than a mile from the recently sold Crawford Hill Mansion.
Classic Properties of Denver has acquired and restored multiple apartment buildings since its 1999 establishment, in areas including Cheesman Park, Congress Park and City Park.