By: Daniel Benson; Belfiore Real Estate Consulting
Newmark Homes (Michael Nicholas; Manager) has taken over Auburne, the custom lot community in South Glendale formerly being built by Starwood Custom Homes (Jacob Simonton; Manager). The community is located south of the southeast corner of 83rd Ave & Northern Ave. According to public record (click here to view the affidavit), Newmark Homes closed on these 5 – 185’ x 235’ finished lots on 9/23/2014 for $400,000 ($80,000 per lot).
Additional recorded documents show that the seller, Rockport Holdings LLC, subsequently cancelled its previous lot option agreement with Starwood after the closing (click here to view the termination of option document). ARMLS records show Starwood closed two homes within the subdivision earlier this year between $566,800 – $573,000 ($134-138 PPSF).
Additional recorded documents show Newmark Homes took out a Deed of Trust with M&T Bank securing a note in the amount of $234,400 (click here to view the deed of trust).
