Apartments to become short term rentals

Friendswood attorney and developer Jerome Karam acquired the apartment buildings Sonja and Riviera in the 700 block of Broadway in Galveston. He plans to convert them to short-term rentals as leases expire.

Property lines: Friendswood attorney and developer Jerome Karam, who likely now is the largest commercial property owner in the county, has acquired two small Galveston apartment complex buildings at 717-725 Broadway. He plans to convert the units to short-term rentals as leases expire.

Karam this month closed on the acquisition of a four-plex called Sonja and a 12-plex called Riviera, dating back to the 1930s. The seller, DRE Properties LLC, had owned and managed the properties for many decades.

Laura Elder: 409-683-5248; laura.elder@galvnews.com.

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(7) comments

Craig Mason

90 dollars a square foot? That would be 90,000 a month for a 1000 sf apartment?

Ellen Morrison

Yes, we paid $91/sqft for our house. Something wrong with the number published! Even $9 is too much.

lauraelder Staff
Laura Elder

I should have written $1.90 a square foot. Thanks for catching that

lauraelder Staff
Laura Elder

Thanks for pointing this out. I couldn't make the math work either. It could be I misheard. I've updated it to say rents will start at about $1,300 for a 650-square-foot apartment. I'll try to get more clarity on the $90 a square foot.

Bailey Jones

I'm happy to read about the 16 news homes going up at 32nd St.

Chuck DiFalco

"League City leaders aren’t known for being receptive to multifamily developments" In general, that's a good thing. I support those leaders. I hope that Mr. Hoover and City Council watch this Pinnacle Park property developer like a hawk for quality construction and amenities.

Michelle Aycoth

No to more apartments in League City !

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