Brad Feldman, senior managing partner, represented the undisclosed seller. Joe Smazal, also a senior managing partner, represented the confidential buyer, a local real estate operator with an established and growing portfolio in the submarket.

“This is a sizeable building to be trading in the trending Avondale area, so we weren’t surprised it attracted substantial interest and a good price per unit,” said Feldman. “We had a buyer under contract before COVID-19 hit, but he walked due to the uncertainty around the pandemic. We were able to resurrect the deal with a new buyer who offered a competitive price to the initial deal, so everyone considered it a win-win given the unprecedented times.”

Read article: RE Journals