Pair of historic Jefferson Avenue apartment buildings sell for $6 million


The exterior of the building was also shown in the eighth episode of the first season of HBO’s “The Sopranos.”

An email was sent to Matt Lester, director of Princeton Enterprises, seeking comment on Wednesday morning.

According to CoStar Group Inc., a Washington, D.C.-based real estate information service, the Palms Apartments building was built in 1910 and currently has 64 units – 17 studios rented for an average of $801 per month, 38 bedrooms bedrooms rented for an average of $1,001 per month and nine two-bedroom rentals for an average of $1,302 per month.

Princeton paid $3.05 million for the property in February 2014.

CoStar says the 35 Manchester apartments were built in 1915 and have 32 one-bedroom units to rent for $804 per month and three two-bedroom units to rent for $819 per month.

Princeton paid $660,000 for the property in November 2014, according to CoStar.

The entities that bought the buildings last month — 1001 Jefferson LLC and 2016 Jefferson LLC — are tied to Detroit-based real estate firm Greatwater Opportunity Capital LLC.

Peter Jankowski, senior vice president of brokerage services for Farmington Hills-based Friedman Real Estate, represented both seller and buyer in the transaction.


Comments are closed.