Developer lists $5M Sunnyside condo project ahead of completion

Kate Tracy July 4, 2017 3

Rendering of the 12 condos planned at 1919 W. 46th Ave. (Courtesy Myles Goldman)

Before developer Myles Goldman lists each of the dozen Sunnyside slot homes he expects to finish at year-end, he figured he’d test the interest in selling them in a package deal.

Goldman, a realtor with Your Castle Real Estate, listed the Sunnyside 12 project for $5.53 million.

“It (would be) just hopefully an easier sale, instead of dealing with each individual buyer,” Goldman said.

He bought the property last summer for $1 million through 46th Ave. Partners LLC, and received a $650,000 loan from FirstBank last July, according to property records.

Goldman said most developers looking to purchase multi-family units do not find many that are brand new. If he does not find a buyer in the next few weeks, he’ll start selling the condos individually for between $449,000 and $469,000.

“The inside of them are decked out with high-end finishes: wood floors, quartz countertops, stainless steel appliances,” Goldman said. “We have a loft area on the main floor that’s just unique … you can set it up as kind of an office.”

TK Morrison is doing construction on the condos, and Architecture Design Collaborative designed the units. The framing is going up on the units, which will be ready for residents by December, Goldman said.

Sunnyside is zoned as primarily single-family or duplex homes, Goldman said, so the townhomes will stand out in the rest of the neighborhood as one of the few multi-family units.

“You will not have thousands of townhomes side by side … there are just not many areas in Sunnyside that have zonings like this.”

On the Sunnyside 12 website, the price for each individual townhome adds up to $5,474,800 – $50,200 less than the asking price for the bundle.

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3 Comments »

  1. Ronda Terry July 5, 2017 at 6:46 am - Reply

    Ya another condo no one can afford and how ugly they’re..

  2. todd July 5, 2017 at 7:05 am - Reply

    What are the benefits of selling it as a package?

  3. alan July 5, 2017 at 10:04 am - Reply

    Benefits – only to the developer. He said as much. I’d rather have to deal with one buyer vs. 12. I agree with Ronda, prices for new condos, town homes and apartments are becoming really absurd (and mostly ugly too). With each of these transactions the new investor wants to get their desired ROI so it’ll be interesting to see how it works out long term (are these rents sustainable with more units coming onboard?). Time will tell. At least Colorado (Denver Metro for sure) is still booming and attracting outside money which is fueling these changes.

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