|Dwell is Northwest of the Scottsdale & McDowell Rds intersection, catty-corner to the Skysong Research Park.|
The 193-unit Dwell Apartments located west of the northwest corner of Scottsdale and McDowell Roads sold yesterday for a total price of $14.275 million. The 52-year old complex consists of 25 residential buildings constructed into a unique “L” shaped pattern on six acres.
Zev Tzvi Hendeles of 3rd Ave Investments purchased the property from San Francisco-based FPA Multifamily, funded by a $11.48m new loan with Freddie Mac. The $14.275 million purchase price equates to roughly $74,000 per unit.