302-Unit Charlotte Rental Asset Hits the Market
Avison Young has been retained to market Savoy Apartments, a 302-unit, Class A multifamily community located at 650 E. Brooklyn Village Ave. The six-story property also features four ground-floor retail suites.
An Avison Young team comprised of James Nelson, Erik Edeen, James Hanson, Steven Peden and Kim Troeller is leading marketing efforts.
Savoy Apartments features a mix of studio, one-, two- and three-bedroom floorplans and is more than 95% occupied. The community offers an extensive amenity package, including a pool, coworking spaces, fitness center, pet amenities, covered parking and ground-floor retail, positioning it among the premier multifamily offerings in Uptown Charlotte.
The Charlotte Business Journal reports Creek Lane and Proffitt Dixon acquired the 2.6-acre site in January 2017 for $4.5 million. Construction began shortly thereafter, and Savoy opened its doors in 2019. The property’s current value is about $90.3 million, according to the county’s most recent assessment.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout