Real Estate & Construction  April 19, 2017

Manhattan-based real estate firm pays top dollar for apartments in Boulder

BOULDER — A boutique apartment complex in Boulder consisting of 26 units has be sold for $15.6 million, making its $600,000 per-unit price and $654 per-square-foot price the highest within 750 miles of the property.

Manhattan-based Rivendell Global Real Estate purchased 17 Walnut apartments at 1701 Walnut St., from Boulder-based developer Element Properties, which was represented by investment brokerage ARA Newmark’s senior managing director Andy Hellman and executive managing director Justin Hunt.

“Pricing of this caliber rarely, if ever, makes its way outside of Tier 1 coastal markets,” Hellman said. “This was a true testament to what great real estate in Boulder,…

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