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DF Multifamily Tapped to Manage Richmond Apartment Property
DF Multifamily, a division of real estate service and investment firm Drucker + Falk, has been tapped by Douglas Development Corp. to lease and manage Stumpf Flats on Main, a 24-unit boutique apartment property in Richmond.
Located at 728 E. Main St. in Richmond’s central business district, the property is currently undergoing a $5 million redevelopment. The property previously served as the Stumpf Hotel, which was built nearly 100 years ago. Renovation plans call for the seven-story structure to be converted into 24 one-bedroom apartments above 2,300 square feet of ground-level commercial space with an attached parking garage. Rent is expected to range between $1,200 to $1,500 per month.
“We are truly pleased to continue growing our relationship with Douglas Development Corp.,” said Andrew Chisholm, director of multifamily management at Drucker + Falk. “Stumpf Flats on Main is a one of a kind apartment community in a thriving part of the city, which we are thrilled to add to our expanding portfolio in the greater Richmond area.”
For comments, questions or concerns, please contact David Cohen
- ◦Development
- ◦Lease
