The area’s high-end home market saw its fair share of multimillion-dollar deals, led by a local couple’s move across the Henrico-Goochland line.
Residential Real Estate
The newly built apartment complexes both sold for around the same price, but one’s per-door breakdown approached a recent record.
The Manchester parcel is catty-corner to Papa’s seven-story, 118-unit, mixed-use building The Box, which is under construction.
Harper Associates had previously planned a second phase with townhomes or a mix of apartments and single-family homes.
Fewer bidders than hoped for prompted the sellers to pull the plug. The 180-year-old downtown mansion remains on the market for $2.3 million.
“These guys are also reaching a point in their age where they looked around and said, ‘Maybe we should just sell the whole deal and let somebody else build it,’” said broker Bruce Milam.
The local developer wants to replace a parking lot adjacent to his office at 208-212 E. Leigh St. with 63 apartments in a five-story structure.
The purchase price for the Crystal Lakes Apartments equates to just over $148,000 per door. It last sold for $37.5 million in 2017.
Their latest real estate investment was a mixed-use building at 322 N. 25th St. for $1.8 million.
The Dominion Realty Partners development is the latest in a string of apartment complexes slated for the transitioning office park in western Henrico.