Acquired off-market in 2005, this 8,500 SF limestone town home was purchased for under $500 PSF. Originally intended to be a condominium development, Brennan secured both acquisition and construction financing for this project. When the project came to market in $Q 2008, the luxury condominium market would not support the disposition of the asset. Brennan held and operated the asset until the market re-covered in 2013, at which time the units were repositioned and sold. The project yielded a greater than 3X on equity and more than tripled the annualized return on the DJIA over the same period.Back to Portfolio
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