🔹JUST CLOSED – 🔹 Taking It to New Levels: Triton Closes 14-Unit Edgewater Apartment Building
- Triton Realty Group
- Apr 24
- 1 min read
In 2008, a successful developer acquired a 14-unit L-shaped yellow-brick building with the plan to take the property to the next level, tearing everything to the brick and improving the property to sell as condominiums. Using his creative construction skills he was able to unlock condo quality finishes in a newly renovated building. Unfortunately when he finished the project, the condo market had already gone south due to the Great Recession.
The owner pivoted and held the property as rentals providing beautiful living spaces with condo quality apartments to his residents. For over 7 years, Triton SVP & Principal, Harrison Cohen, kept in contact with the owner. This year, timing was right for him to sell.
President Matthew Fritzshall sold a property earlier this year on behalf of a long-time investor client. This deal was perfectly aligned for them to recycle their capital given the property's prime Edgewater location, upgraded building systems, and clear potential for added value. Congratulations to everyone involved in the successful transaction!
📈 Deal Highlights:
✔ 14 condo quality apartments with excellent layouts.
✔ 2-bedroom and 3-bedroom apartments featuring separate electric, HVAC and in-unit laundry.
✔ Capital improvements include A-to-Z full renovation in 2011.
For additional information on this transaction or to learn more about our off-market and on-market opportunities please contact:
Matthew A. Fritzshall
📞 (847) 778-8746
Harrison Cohen
📞 (847) 624-6639
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