May 13, 2024 2:43 am
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Rose Law Group

SOLD! Residential site in downtown Phoenix

By AZRE

Cushman & Wakefield announced the firm has brokered the sale of an approximately 1.0-acre high-rise apartment redevelopment site in downtown Phoenix, Arizona. The buyer, Masyno Holding LLC (Anthony Bibars, Kal Bibars – Principals), acquired the transit-oriented property located at the northwest corner of 1st and McKinley streets for $12 million — or about $276 per land square foot.

Bound by three streets, the two-parcel property provides for intense densities up to a maximum of 741 residential units. The redevelopment site in downtown Phoenix is strategically positioned within a few blocks of multiple Light Rail stations.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.