Denver, CO Nexus Commercial Real Estate, has closed the following sales totaling $1.867 million:
1553 Steele St.: The large seven-unit apartment building sold for $1.122 million. Austin Smith of Nexus represented the buyer, AJR 1 Investments, LLC.
• 725 S. Lincoln St.: The 1764 s/f duplex sold for $400,000. Sean Holamon of Nexus represented the Seller, 725 S. Lincoln St. LLC.
• 303 University Dr. in Colorado Springs: The four-unit property with 4,458 s/f sold for $345,000. Crystal Piercy of Nexus represented the buyer, Rental Investments 3390, LLC.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,