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.
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(7) comments
90 dollars a square foot? That would be 90,000 a month for a 1000 sf apartment?
Yes, we paid $91/sqft for our house. Something wrong with the number published! Even $9 is too much.
I should have written $1.90 a square foot. Thanks for catching that
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.
I'm happy to read about the 16 news homes going up at 32nd St.
"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.
No to more apartments in League City !
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