September 9, 2009 – 4:24 pm
Globe St.’s Amy Wolff Sorter says the buyer of the foreclosed Greenbriar Park North apartments near Greenspoint has “a strong track record” of rehabbing complexes. That should help:
Wade Schmitz with Hendricks & Partners’ Houston office tells GlobeSt.com that CNC Investments was the former owner and like many owners during the mid-2000s, had bought too much with too much debt that couldn’t be refinanced. Schmitz, who marketed the asset for Bank of America adds that the 1980s complex at 818 Richcrest Dr. attracted a great deal of interest. . . .
“There were down units that needed to be brought back online,” Schmitz says. “The property had been neglected, and needed someone to take care of it.”
How neglected? Of 400 units in the complex, only around 60 are occupied.
Don’t want to miss out on all the foreclosed-apartment-complex rehab fun? Be patient, more is coming:
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Read more about: 77060, Apartments, Buying and Selling, Foreclosures, Greenspoint, Renovations
Diehard Modernist architect Charles Gwathmey, dubbed one of the “New York Five” (along with Peter Eisenman, Michael Graves, Richard Meier, and John Hejduk) in the early 1970s, passed away yesterday in Manhattan of esophageal cancer. Gwathmey, who was 71, was probably most famous for his addition to Frank Lloyd Wright’s Guggenheim Museum, which his firm, Gwathmey Siegel & Associates Architects, completed in 1992.
Gwathmey-Siegel was no stranger to Houston. In the late seventies and early eighties, the firm designed a series of 4 spec office buildings that line the south side of this city’s North Belt, just southeast of the Greenspoint Mall.
Photos: LoopNet (400 N. Sam Houston Pkwy. E) and Feagins Interests (Damson Oil Bldg., 260 N. Sam Houston Pkwy. E)
Read more about: 77060, Architects, Greenspoint, Houston History, Office Buildings
