New York real estate investors buy historic Congress Avenue buildings

Business
The Congress Commons buildings (Austin Business Journal via Google Street View)

The Congress Commons buildings (Austin Business Journal via Google Street View)

AUSTIN (Austin Business Journal) — A New York-based real estate firm bought three historic buildings on Congress Avenue that make up the Congress Commons.

Clarion Partners LLC bought 315, 319 and 325 Congress Avenue from Charlotte-based real estate firm Asana Partners in a deal that closed Oct. 4. While terms weren’t disclosed, tax records say the buildings were recently assessed at $17.5 million, although those appraisals are often much lower than market value.

All three buildings, the McKean-Eilers Building, Day Building and Swift Building, were built in 1888, two years after The Driskill Hotel. Combined, they have about 43,000 square feet of space and currently have Accenture, One Medical and Swift’s Attic as tenants.

To read the rest of the story, go to the Austin Business Journal’s website.

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