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interesting that they paid $33.6m for the building; so the original financier only lost $2.4m of their investment which is better than I expected in the current economy. If the new owners let all the condos at an average rent of $1500 a month they will get a nice return of 11% before expenses
let's hope they are successful as Raleigh needs more downtown residents to help with the revival
I called and got some pricing information on 2 bedrooms. They are offering 1.5 months free--those savings are spread throughout the 12 month lease term. So, 2 bedrooms are ranging from $1750-2000 a month AFTER the discount is applied. I was hoping that they would be just a little bit less...oh well
It's about time. There's been a huge dearth of rental units in downtown since I moved here in 2004. I wanted to live downtown before buying there, but wasn't able to find anything suitable before my corporate apartment ran out.
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