TAMPA, FL-Gables at Temple Terrace apartments has traded for $3.85 million, or about $40,000 per door. The property, which is located in the Tampa suburb of Temple Terrace, is vintage 1972.
Kevin Kelleher, Robert Goldfinger, and Darron Kattan of Franklin Street Real Estate Services represented both parties in the transaction. Coral Gables-based MCNA Properties sold the multifamily asset to a Chicago-based investor.
“Gables of Temple Terrace was a failed condo conversion which got started at the tail end of the conversion bubble,” Kelleher tells GlobeSt.com. "The sale in September of 2007 was for $8.86 million. It was to receive a major renovation that never got completed by the condo developer."
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