News
Showing Off
July 27, 2010
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| The Tower Residences at The Ritz-Carlton Dallas hosted a poolside party and Stanley Korshak swimwear showcase while showing off the homes, which opened in July 2009. About 75% are sold in the Crescent-owned community, and the remaining quarter range from one to three BR at $615K to more than $3.7M. The project has closed 13 sales since the beginning of the year, to the tune of almost $23M (which translates to more than $715/SF.) Good news for those with deep pockets: two sub-penthouses are available. | |
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| Cushman & Wakefield Capital Markets Group ED Susan Gwin Burks, C. Pharr & Co.'s Cynthia Pharr Lee (who does PR consulting for the Residences), and Crescent Real Estate Equities SVP Joseph Pitchford. Susan tells us she and investment sales colleague Barney McAuley checked out the residences to stay on top of the pricing, quality, construction, and design: “Some of our recent trades actually had a lot of interest from investors who analyzed buildings for conversions from office to multifamily/condo.†Her team recently sold 411 N. Akard and has 1025 Elm St. under contract. She beamed (justifiably) that the team has disposed of 31 assets so far this year. |
