Greenleaf & Company added 1165 Delaware Avenue to its apartment building portfolio yesterday. The four-story building was purchased from 1165 Delaware LLC for $2,556,000. 1165 Delaware LLC didn’t own the property for long. The investment group purchased the building in May 2011 for $2.32 million.
The 57,000 sq.ft., circa-1925 building contains 65 apartments and is located at the northwest corner of Delaware and W. Ferry Street. Greenleaf & Company and Paul Kolkmeyer of Priam Enterprises converted the former Lutheran Nursing Home at 1040 Delaware and converted it to 49 rental units and office space. The $5.5 million project opened in December.
Greenleaf is also planning to convert the former Spaghetti Warehouse building at 141 Elm Street into 38 to 40 loft apartments and 2,700 sq.ft. of commercial space. Work on that project should be underway soon.