Winston-Salem Acquisition LLC Purchases Crowne Club Apartments From Alan Engel & Alan Levow For $31.7M

The property asset involved in this transaction is a multifamily complex located at 200 Crowne Club Drive in Winston-Salem, NC. The sale was executed at a price of $31,700,000, comprising 250 units. The total square footage of the asset amounts to 17,956, resulting in a price per unit of $126,800 and a price per square foot of $1,765.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,700,000
• Address: 200 Crowne Club Drive
• Market: Winston-Salem, NC
• Units: 250
• Square Footage: 17,956
• Price Per Unit: $126,800
• Price Per Square Foot: $1,765
• Buyer: Winston-Salem Acquisition LLC
• Seller: Alan Engel & Alan Levow - Crowne Partners

The transaction signifies Forsyth County's largest multifamily sale of 2024. The buyer, Winston-Salem Acquisition LLC, is led by Jeremey Rauch from Hewlett, New York. The apartment complex spans 33.57 acres and features one-, two-, and three-bedroom units.