By: Daniel Benson; Belfiore Real Estate Consulting
The Onyx Tower Condominium parcel at Tempe Town Lake (SWC Scottsdale Rd. and Playa Del Norte Dr.) traded hands this week. According to public record (click here to view the affidavit) the transaction closed October 7, 2013 for $3,000,000 ($15,306 per planned unit). The buyer in the transaction was PDN Group LLC and the seller was Onyx Tower LP (Westone Development General Partner). Westone recorded a condominium plat for the site back on February 14, 2008. The plat allows for a 26 story 196 unit high-rise condominium. The plan also includes two underground levels of parking (click here to view the recorded condo plat).
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