Crow Holdings Acquires Multifamily Property In Delray Beach For $111.8M

Crow Holdings, represented by Michael Levy & Harlan Crow, acquired a multifamily property in Delray Beach. The property is located at 250 Congress Park Dr and spans a total of 572,384 square feet. The transaction took place on July 1, 2021, with TPI Real Estate Investment Trust acting as the seller. The sale price for the property was $111,750,000, and it consists of 369 units, resulting in a price per unit of $302,846. The property covers an area of 9.3 acres and has a price per acre of $12,016,129. The complex includes a pool and a 151,248 square feet garage.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $111,750,000
• Address: 250 Congress Park Dr
• Market: Delray Beach

The buyer, Crow Holdings, was represented by Michael Levy & Harlan Crow. The seller in the transaction was TPI Real Estate Investment Trust. This acquisition marks an important investment in the Delray Beach market for Crow Holdings, expanding their real estate portfolio in the area.