A newly constructed luxury apartment community in Phoenix has recently been sold for a record-breaking price of over $500,000 per unit. The property, known as Arcadia Views, was acquired by a Las Vegas-based investment entity for $8.5 million ($531k/unit). This Class A multifamily development was built in 2023 and is situated at 2640 North 52nd St.
Arcadia Views offers an array of one- and two-bedroom apartments with stunning views of Camelback Mountain. With rents ranging from $2,400 to $3,450 per month, this property provides luxurious living options.
The transaction was facilitated by a team from Cushman & Wakefield led by Steven Nicoluzakis on behalf of the seller Kinella Capital . The buyer was identified as Capro Arcadia Views LLC.
According to Nicoluzakis , “There continues to be strong demand across the Phoenix Metro area for modernized and well-located multifamily assets like Arcadia Views.”
