(No caption)
In the day, before the recent uptick in demand for downtown living, the Riverfront Towers along the Detroit River near Joe Louis Arena was one of the few places for apartment living that offered nice amenities. Alumni of the building includes Aretha Franklin, Coleman A. Young and some athletes and musicians.
Now, a major New York City real estate investor has purchased the high-rise apartments for $79.5 million, Kirk Pinho of Crain's Detroit Business reports.
Image Capital LLC, founded by Asher Koenig, is the new majority owner of the two apartment towers totaling 557 units as the result of a deal that closed Wednesday.
The 26-story Tower 100 was built in 1992 and a 29-story second tower rose in 1983, Crain's reports. Tower 300, with 285 condominiums, isn't part of the deal.
