Cushman & Wakefield Negotiates Sale of 316-Unit Class A Apartment Community
PHOENIX, Arizona – Cushman & Wakefield represented Alliance Residential Company in the sale of Broadstone Roosevelt Row, located at 330 E. Roosevelt Street in Phoenix. AZ Roosevelt Row Apartments LLC – an entity formed by Weidner Investment Services, Inc. of Kirkland, Wash. – purchased the property for $84.2 million ($266,500 per unit).
Executive Managing Directors David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller. Fogler commented, “Broadstone Roosevelt Row is a true best-in-class urban multifamily community. Located in the heart of Roosevelt Row, the property also occupies one of the best locations in the Phoenix area.”
Broadstone Roosevelt Row is a new 316-unit Class A, luxury rental community centrally located in the heart of Downtown Phoenix’s iconic Roosevelt Row Arts District. Part of one of the only true urban, walkable neighborhoods in Phoenix, the community is steps from art galleries, restaurants, retail shops, bars and entertainment venues.
The community offers a mix of studio, one-, two-, and three-bedroom floor plans at an average size of 865-square-feet. Each apartment features gourmet kitchens with gas cooktops, energy star GE stainless-steel appliances, quartz countertops, wood-style flooring, front-load washer/dryers in units, USB charging outlets and nest thermostats. Select units also include 19-foot ceilings, wine refrigerators, walk-in closets, Sonos sound system and personal balconies/patios.
In addition to the surrounding/walkable amenity base, Broadstone Roosevelt Row features a pool and spa with private cabanas, state-of-the-art fitness facility with an outdoor yoga lawn, furnished rooftop deck with fire pits and barbeques, complimentary resident beach cruisers, smartphone resident access system, and a two-story clubhouse with chef’s kitchen, coffee bar, oversized TV, classic arcades and billiard games.