By Tudor Scolca
A plot of land of .84 acres changed hands in central Scottsdale, Ariz., for $1.6 million. The site incorporates a planned luxury condo development named Aeries Townhomes. The project is fully entitled and all permits have been obtained. ABI Multifamily brokered the transaction, representing both the buyer and the seller.
Aeries Townhomes will be a three-story luxury condominium community, comprising 16 two-bedroom units, with an average size of 1,847 square feet. The design is centered around a contemporary, modern style. The Phoenix luxury community will be located at 3214 N. 70th St., close to the intersection with Osborn Road. The area offers plenty of dining, entertainment and employment options, with Fashion Square and the Entertainment District just a mile away, and the art galleries on E. Main Street within walking distance.
“The South Scottsdale submarket has long been one of the strongest in the Phoenix market and has done well with for-sale and for-rent product. The seller had great success with previous similar projects nearby, paving the path for the buyer to have continued success,” said Eddie Chang, partner at ABI, in a prepared statement. ABI’s team included Mr. Chang, Alon Shnitzer, Patrick Burch, John Klocek, John Kobierowski, Rue Bax and Doug Lazovick.
Image courtesy of ABI Multifamily