Bay Street Condo Development Sold

General Investment & Development Cos. sold all of the 284 condo units above Bay Street, the Emeryville shopping mecca, to Richard Ross and Socorro Vasquez for $108 million ($380,282 per unit). The property was roughly 66% occupied at time of sale.

Built last year, the four-story multifamily building, known as Windsor at Metropolitan, is a portion of Bay Street Emeryville, a mixed-use retail and residential complex about 4 miles from Oakland. This transaction includes 284 residential units totaling 275,000 square feet, 20% of which is designated as affordable housing. The unit mix is comprised of 114 one-bedroom/one-bath units and 170 two-bedroom/two-bath units, ranging from 715 square feet to 1,424 square feet.

Why they sold is another question.

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