For many years the neighborhood known as The Golden Triangle (area south of The Denver Art Museum) mystified urban planners and developers. Located south of downtown the area was a mix of low-rise dated commercial buildings and parking lots that by virtue of location should have always been in demand.
During the last 1990’s into the 2000’s a period similar to the boom at present three (3) high-rises were developed setting the foundation for the neighborhood and its resurgence. Of the three buildings, two centrally located in the neighborhood, a third on its eastern flank. The buildings were conceived and developed by Craig Nassi.
At present the area continues to surge with redevelopment including rental apartments along its Speer Boulevard border, in-fill row houses within the heart of the neighborhood i.e. between Broadway and Speer, south of 12thAvenue and continued activity on the Broadway corridor.
Of the three buildings, which changed the skyline of the neighborhood The Belvedere at 475 W 12th Avenue, was the first to be completed and offered for sale. Conceived and designed based on the aesthetic of elegant pre-war co-ops of Manhattan the finished building includes an opulent lobby, an attended door and exterior design details reminiscent of pre-WWII apartment houses. The Belvedere was consider out of place in the Rocky Mountain West (to date most condo buildings has been developed with a contemporary design) and was followed by The Prado, within one block sharing similar aesthetics and The Beauvallon, a hulking structure built on Lincoln Street with full amenities offering views of Downtown and The Front Range.
Having recently represented a seller in The Belvedere, a sale which commanded the highest per square foot transacted in the building to date I wished to look back on the market over the last year for all three buildings. Due to their design and location, the three buildings are truly unique and have yet to be replicated.
The Belvedere 475 W 12thAvenue (1999)
- Closed Sales: Seven (7)
- Size: 900 SF to 2,640 SF
- Sold: $350,000 – $985,000
- Average PSF: $385.95*
- On Sale or Under Contract: Two (2) Avg. $411 PSF
- *The transaction in which I represented the seller closed at $415 PSF
The Prado: 300 W 11thAvenue (2001)
- Closed Sales: Six (6)
- Size: 1,008 SF to 2,096 SF
- Sold: $375,000 – $900,000
- Average PSF: $380.32
- On Sale of Under Contract: Two (4) Avg Asking $403 PSF
- Of note, two parking spaces for sale asking $60,000 not included in stats above
The Beauvallon 925 Lincoln St (2001)
- Closed Sales: Nine (9)
- Size: 769 SF to 2,272 SF
- Sold: $315,000 – $730,000
- Average PSF: $374.24.95
- On Sale of Under Contract: Seven (7) Avg Asking $380 PSF
Please note while the buildings were developed one person, each is unique concerning setting, amenities, views and floor plans. Yet even in the present day in which we are witnessing glass enclosed high-rises penetrating the skyline from Downtown to Cherry Creek, The Belevedere, The Prado and The Beauvallon continue to occupy a unique niche in the marketplace concerning location, design and views and doubtful to be replicated anytime soon. While one rarely uses the term “bespoke” concerning condos, these three buildings fit the definition.
And in the interest of a fair and balanced blog I would be remiss if I did not include the opposing opinion concerning the design of the The Beauvillon as noted in the following article from Westword titled: The Ten Worst 21st-Century Buildings in Downtown Denver.