Crain's is reporting the sale of Van Dyke Manor to a mysterious "wealthy German family" operating as 1000 Van Dyke Investments LLC. The sale of the 38-unit high rise by Triton Investments Co. will net that Colorado-based firm (which also owns the Kean Apartments, the Hibbard Apartments and the Parker Apartments) $1.9 million.
The new owners of the Jacob Weinberg-designed high rise plan to upgrade the building unit by unit whenever tenants decide to move. They also plan to do a little work on the roof, but say that the place is in good shape for the most part. The 2013 deal that landed Triton Van Dyke Manor included their other three Detroit properties and cost $4.43 million.
Loopnet lists many nice features for this building at the corner of Van Dyke and Lafayette including hardwood floors, AC, stained glass windows, painted ceilings, on-site laundry and secure parking. The building sold in under 30 days. No word on who the mysterious Germans might be, but the idea of, say, Dieter and his monkey owning a 1928 character building in Detroit makes us as happy as a little girl.
·German family part of new ownership group that paid $1.9 million for 38-unit building/a> [Crain's Detroit Business]
·Group Renovating Alden Park Towers Goes on Buying Spree [Curbed Detroit]
·Van Dyke Manor/a> [Loop Net]
·Sprockets [Yahoo Screen]