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| Madison at Largo Apartments, 601 East Rosemary Road Northeast, Largo, FL |
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| Jason Stanton |
LARGO, FL – Berkadia
announced the recent sale of Madison at
Largo, a multifamily property located in Largo.
Senior Director
Jason Stanton of the Clearwater office, as well as Managing Director Cole
Whitaker and Senior Director Hal Warren of the Orlando office, and
Senior Director Tal Frydman of the
Boca Raton /Miami office, negotiated the $54 million sale, reflecting a
$121,622 per-unit price.
Tal Frydman sold the
property to Largo Landry LLC for $14.3 million in 2011 and since then Seller
Largo Landry LLC of West Springfield, Mass. completed major renovations to the
property with both interior and exterior enhancements.
The Buyer was enticed by Madison at Largo’s
condition and its proximity to several major rental demand drivers.
"The competition for
this property was intense, as over 15 official property tours were conducted
and resulted in more than 10 competitive offers," said Stanton. "The
ultimate price-per-unit was record-setting in Pinellas County for an
off-waterfront property with more than 150 units."
Located at 601 East
Rosemary Rd. NE, the 444-unit property offers one-, two- and three-bedroom
floorplans. Unit amenities include kitchens equipped with refrigerators,
stoves, microwaves, dishwashers and garbage disposals, along with breakfast
bars, carpet and wood-style flooring, washer and dryer connections and private
patios or balconies. Residents also enjoy community amenities such as three
resort-style pools, a 24-hour state-of-the-art fitness center and a lounge with
pool tables and bistro seating.
The property is located
just north of East Bay Drive, a main east-west thoroughfare through Largo, and
just south of Gulf to Bay Boulevard. It
is less than five miles from Clearwater Beach and approximately five miles from
downtown Clearwater. Top employers in the area include Tech Data, Jabil
Circuit, BayCare, and Home Shopping Network.
For a complete copy of the company’s news release,
please contact:
Beth Payan, Larry Vershel
Communications, 407-644-4142 lvershelco@aol.com
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