Denver, Colo.–Hendricks & Partners executed the sale of The McFee, located at 60 Corona Street in Denver, Colo.
The 22-unit apartment community was sold for $1,555,000 in an all-cash transaction. As about half the property’s units were studios, this represented a leading sales price for the area, according to Hendricks & Partners.
Built in 1960 for the McFee family, the property offers 10 studio units, 11 one-bedroom units, and one two-bedroom unit. The building and 17 of the units have been substantially remodeled. The buyer was able to purchase an extensively renovated community situated in a premier central Denver location, near the prestigious Denver Country Club and the well-known Cherry Creek neighborhood with its upscale retail area, parks, and bike path.
The seller was the sstate of Patricia McFee of Denver. The McFee family had owned the property since having it built 50 years ago. The buyer was Corona Residential LLC, a Colorado limited liability company. The transaction was negotiated by Chuck Sweeney and Dianne Sweeney of the Denver office of Hendricks & Partners on behalf of the seller. No outside brokers were involved in the deal.