The SocketSite scoop three months ago: the 179-unit Argenta (1 Polk) was on the market as an apartment building (constructed as condos). The scoop today: according to a plugged-in tipster, Archstone-Smith is in negotiations to acquire the building and begin renting it out.
From our tipster:
Archstone originally turned down [an] offer to buy The Argenta. The sellers of the property have gone back to Archstone-Smith now, with a lower offer…They are working on hammering out a deal.
Once Archstone closes on the building a leasing office will go in, and rentals will start “immediately” according to my source…
Hard numbers and confirmation when the sale closes (assuming it does).
∙ The Scoop: Argenta (1 Polk) On The Market As An Apartment Building [SocketSite]