AUSTIN – Los Angeles-based Karlin Real Estate has purchased the 112-unit Railyard Condominiums at 201 E. Fourth St. for $104 million.
The 70,694-sf, two-block site will be redeveloped into a 1.7 million-sf campus with a 47-story office tower and a 51-story office and residential tower.
The $1,471 per-sf deal is believed to be a record for downtown land.
The Railyard was built in 1983 as an apartment complex and converted to condominiums in 1999.
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