$250M Stoneleigh tower adds 70 luxury condos in Dallas$250M Stoneleigh tower adds 70 luxury condos in Dallashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=23902014-11-22T18:17:00Z2014-11-21T00:00:00Z

DALLAS - The $250 million Residences of the Stoneleigh at the southwest corner of Maple Ave. and Wolf St. is nearly completed.

At build-out, the 22-story condominium project will house about 70 residences that will be custom built by custom home builders, such as Crescent Estates Custom Homes and Sharif Munir Custom Homes.

The average home is 3,500 sf, with many homeowners seeking to enlarge their footprint by taking double units or more-square footage.

The condo prices range from $350 to $800 per sf, depending on the customized build-out of the home.

Right now, the tower is roughly 25 percent to 30 percent occupied on a per-sf basis, according to developer Mehrdad Moayedi said.

The Stoneleigh tower also includes a 30,000-sf park — larger than most condo towers — an infinity pool, cabana area and a hot tub.

The Residences at the Stoneleigh weren't always an easy bet. In 2009, the tower was abandoned when its then-owners landed in bankruptcy court.

Moayedi bought the project out of bankruptcy for $4.55 million in 2010.

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/news/2014/11/20/an-inside-look-at-mehrdad-moayedis-first.htmlRead more at {Source}

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