Cushman & Wakefield said it recently sold 28 units at the Copper Beech Condominiums, a 46-unit condominium asset located at 34 Loantaka Way in Madison.
Terms of the sale were not disclosed.
A Cushman & Wakefield team of Andy Merin, Brian Whitmer, David Lebenstein, Andy Schwartz, Jordan Sobel and Andre Balthazard represented the seller, Drew University, and procured the buyer, CB Condo Holdings LLC.
“The uniqueness of the Copper Beech asset in the highly sought-after Madison market, coupled with the opportunity for an investor to add real value, made this a very compelling acquisition for CB Condo Holdings LLC,” Schwartz said.
Constructed in 1990, units at the property can now be offered for sale to the public, thanks to a recent update to the local zoning code.
The asset, which consists of 27 two-bedroom units and one three-bedroom unit, is ideally located three minutes from downtown Madison, which has a walkable area and Midtown Direct train service to New York’s Penn Station.