Kelly, Burk, Sigourney, and Sinyakov of CPEX complete $552,500 sale of two mixed-use buildings

CPEX has arranged the sale of two mixed-use buildings at 1252-1254 Bay Street. CPEX's development & conversion and mixed-use investment sales teams collaborated to complete the transaction. Located on a single 5,000 s/f tax lot, the three-story mixed-use buildings contain two ground floor commercial spaces with four residential units above, totaling 6,605 s/f combined. The sale price was $552,500, all cash. The property sold for $84 per s/f. Development & conversion sales managing director Sean Kelly, Esq. worked in conjunction with CPEX's mixed-use team, consisting of managing director Scott Burk, Esq., associate director Andre Sigourney, and associate Maksim Sinyakov, to complete the transaction. CPEX represented the seller, a local owner, and procured the purchaser, a local investor. "The buildings are located in Rosebank, a stable middle class market," said Kelly. "With the recent addition of Bin 5 restaurant and Bay Street Bicycles, the retail is picking up along this corridor of Bay Street. The new owners intend on making some cosmetic improvements and will immediately fill the ground floor vacancy."