302-Unit Charlotte Rental Asset Hits the Market

Avison Young has been retained to market Savoy Apartments, a 302-unit, Class A multifamily community located at 650 E. Brooklyn Village Ave. The six-story property also features four ground-floor retail suites.

An Avison Young team comprised of James Nelson, Erik Edeen, James Hanson, Steven Peden and Kim Troeller is leading marketing efforts.

Savoy Apartments features a mix of studio, one-, two- and three-bedroom floorplans and is more than 95% occupied. The community offers an extensive amenity package, including a pool, coworking spaces, fitness center, pet amenities, covered parking and ground-floor retail, positioning it among the premier multifamily offerings in Uptown Charlotte.

The Charlotte Business Journal reports Creek Lane and Proffitt Dixon acquired the 2.6-acre site in January 2017 for $4.5 million. Construction began shortly thereafter, and Savoy opened its doors in 2019. The property’s current value is about $90.3 million, according to the county’s most recent assessment.