COVID-19 Statement from ABI Multifamily

As we all navigate these unprecedented and challenging times, we want you to know that we are working hard to maintain effective business operations and open channels of communication with all of our clients. Fortunately, we utilize and rely on technology as the backbone of operations for ABI. Our digital systems and virtual communications capabilities have allowed us to seamlessly and efficiently transition to a mostly remote working model. We are operating with our full capabilities and continue to provide the responsive and timely feedback we are known for.

Our team remains fully committed to providing our expertise in brokerage and advisory services, and serving as a resource for all relevant data and information. We will continue to help multifamily stakeholders make sound decisions in real-time, maintain maximum performance of their investment assets, and synthesize immediate, short, and long-term goals throughout this highly unusual time.

Quite simply - WE ARE HERE FOR YOU - in the best of times and the worst of times. Our seasoned advisors have been through it all. In our business, rents and occupancy are the pillars to stability. We are tracking both and can help you stay ahead of the changes in your submarkets.

It is time to think and act fast so reach out to one of our brokers over the phone or email. At the very least, you will enjoy a good conversation during these socially distant moments. We are all in this together. Here’s to strong health and rapid resolutions to the variety of challenges we collectively face. More power to all of you!

- The Team at ABI Multifamily

Press Release | ABI Multifamily Brokers $5.3M, 48-unit Condo Community in Phoenix

Phoenix AZ, Multifamily, Apartments, Investment Sales, Ryan Smith, Royce Munroe, Cornell Condominiums

Cornell Condominiums | 6535 - 6555 North 17th Avenue, Phoenix, AZ 85015 | 48 Units | $5,301,500 | $110,448 Per Unit | $92.04 Per SF
Cornell Condominiums | 6535 - 6555 North 17th Avenue, Phoenix, AZ 85015 | 48 Units | $5,301,500 | $110,448 Per Unit | $92.04 Per SF


PRESS RELEASE
FOR IMMEDIATE RELEASE

Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com


ABI Multifamily Brokers $5.3M, 48-unit Condo Community in Phoenix


Phoenix, Ariz. – April 26, 2019: ABI Multifamily — the Western US’ leading multifamily brokerage and advisory services firm — has announced the $5,301,500 / $110,448 Per Unit / $92.04 Per SF sale of The Cornell Condominiums in Phoenix, Ariz.


Cornell Condominiums are a 48-unit garden-style condo conversion community located at 6535-6555 N. 17th Ave., Phoenix, near Glendale and 19th avenues.


Built in 1968, Cornell Condominiums feature an attractive mix of 36 3-Bedroom/2-Bath and 12 2-Bedroom/2 Bath units. The community lies in walking distance of the 19th Avenue & Glendale Light Rail station and offers convenient access to a major hospital campus, retail and service outlets, schools and a variety of restaurant options and churches.


“Cornell Condominiums presented a rare opportunity to assemble a fractured condo community with 19 separate owners. It offers an excellent value add opportunity through extensive interior and exterior renovations,” said ABI Multifamily VP Ryan Smith.


“With its proximity to Light Rail and the many redevelopment projects occurring nearby, the property’s potential makes it highly desirable and attractive,” said ABI Multifamily VP Royce Munroe.


Smith and Munroe represented the Buyer, an Arizona-based private real estate management and investment firm, as well as the 19 individual Sellers from Arizona, California, New York and Canada. This set of transactions enabled the Buyer to fully assemble the property.


ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions.  With offices in Phoenix, Tucson, Sacramento and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.