FOR IMMEDIATE RELEASE – October 24, 2014
Vestis Group Brokers Sale Of Downtown Phoenix Multifamily Land
(Phoenix – October 24, 2014) – Vestis Group is pleased to announce that Principals Natan Jacobs and Les Litwin have completed the sale of 1.58 Acres of R-5 Zoned Phoenix Multifamily Land, located in the sought after Roosevelt neighborhood, in Downtown Phoenix, Arizona for $1,475,000 / $21.48 Per Square Foot.
Watt Communities acquired the 1.58 acre parcel located on Roosevelt Street, just east of 7th Street in Downtown Phoenix’s historic Roosevelt neighborhood for $1,475,000. The site enjoys a superior Downtown Phoenix location, near the Roosevelt Arts District, Copper Square, Arizona State University’s Downtown Phoenix Campus and the Valley Metro Light Rail. The property enjoys close proximity to the Interstate 10 Freeway, Sky Harbor International Airport, sports venues, cultural arts, nightlife and fabulous restaurants. The seller in the transaction was Jerome and Anita Gutkin of Scottsdale, Arizona. The buyer plans to build 30 three-story contemporary urban townhomes on the site. Natan Jacobs and Les Litwin of Vestis Group represented the Buyer in the transaction. The seller was represented by Josh Landers of Commercial 33 in Phoenix, Arizona.
About Vestis Group
Vestis Group is a leading Multifamily Investment sales and Advisory Services firm with a proven track-record of providing value added brokerage services coupled with innovative and ongoing real estate investment strategies.
We specialize in Phoenix Apartments For Sale.
Our mission is to ensure that owners and investors receive the most efficient research, marketing, real estate consultation and transaction services available. We pride ourselves on our ability to deliver added value to our clients by building uncompromising and long-lasting relationships with our partners.
Vestis Group serves multifamily owners and investors with a full suite of commercial real estate services, including Buyer Representation, Tenant Representation, Project Marketing & Sales, Asset Management, Project & Development Services, Research and Consulting.
For more information, please visit: www.Vestis-Group.com.