But PSF isn’t commenting on whether they’re still selling The Lumen or not. The nonprofit arts, educational and community development organization built the theater district tower for $135 million to $138 million, depending on which source is quoted and what costs are included in the total. That would put PSF’s asking price for the 602,000-square-foot building at $159 million. The 396-foot-tall skyscraper has 318 apartments. REJournals reported in February that PSF was seeking about $500,000 per apartment for the property located at 1600 Euclid Ave. It was out of everyone’s range.Īccording to two sources, PSF couldn’t get offers at amounts anywhere close to what the organization wanted. And it wasn’t just out of your price range. The reason is that The Lumen’s owner, the Playhouse Square Foundation (PSF), is reportedly taking the 34-story apartment tower off the market. If you were gathering up spare change in the hopes of buying The Lumen, Cleveland’s tallest residential building, you’re probably out of luck. CLICK IMAGES TO ENLARGE THEM Encore project also not in the program Its owner, the Playhouse Square Foundation, put the building up for sale but reportedly has taken it off the market (JLL). The Lumen, downtown Cleveland’s tallest residential building, was 90 percent leased just one year after it opened for occupancy in July 2020, right in the middle of the COVID-19 pandemic.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |