A 92-unit portion of a 240-unit condominium community has sold for $22 million in Phoenix. The garden-style Phoenician Pines Condominium Homes at 17211 North 35th Ave. is off the market. 

ABI Multifamily announced the deal that breaks down as such: total $22,000,000; $239,130 per unit;  $234.80 per square foot.

ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented the seller in this transaction. The buyer is based in Arizona and the seller is based in California.

The 92 units in this offering were built in 1982 and converted into condominiums in 2006. Additionally, The property was constructed of wood frame and stucco with flat roofing and is individually metered for electricity with individual hot water heaters and HVAC’s. The unit mix consists of 35 one-bed / one-bath units, 39 two-bed / two-bath units, and 18 three-bed / two-bath units averaging approximately 1,018 square feet per unit.