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DENVER–A partnership of Max Rosenstock & Co., MSG Investments, and Marcus & Millichap broker Jim Lorenzen has paid $4.05 million, or $48,214 per unit, for the 84-unit Sherman Street Apartments in the Capitol Hill neighborhood. The building is at 1240-60 Sherman St.

The seller, Sherman St. LLC, was represented by Marcus & Millichap brokers Kevin Higgins and Jules Hochman. Marcus & Millichap brokers Greg Johnson and Lorenzen represented the buyers.

The buyers paid 36.36% more than the county’s appraised value for tax purposes, according to public records reviewed by GlobeSt.com. The county appraises the property at $2.97 million.

And the buyers paid 125% more than the $1.8 million the sellers paid for it in 1996, according to public records.

“The Sherman Street Apartments are in very good condition and benefit from an exceptional location near Downtown,” says broker Johnson. “Our clients will do very well with their investment.

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