CBRE successfully brokers the sale of Tuscany Manor, a historic resort in Palm Springs, for $4.75 million to a private buyer. The new owner plans to transform the property into an upscale apartment community located just two miles from downtown Palm Springs.
Cray A. Carlson and Manny Nunez of CBRE’s Inland Empire multifamily investment properties team expertly represented Dr. Steven Bein and the private buyer in this transaction.
“The sale not only highlights the desirability of Tuscany Manor, but also showcases the thriving real estate market in Palm Springs,” stated Nunez confidently. “The conversion of this beloved resort into a premier apartment complex will elevate residents’ living experience by seamlessly blending its rich history with modern luxury while maintaining its adventurous spirit instilled by Dr.Bein.”
Originally built in 1956 as an adults-only retreat, Tuscany Manor offers one- and two-bedroom suites designed like apartments rather than traditional hotel rooms. The property boasts a picturesque courtyard with amenities such as heated pool, hot tubs,and firepits for residents to enjoy year-round relaxation.
This recent transaction further solidifies CBRE’s expertise and success within California’s competitive real estate market.
