ARA Newmark Negotiates Sale of Apartment Complex in Austin

AUSTIN, TEXAS — ARA, A Newmark Co. (ARA Newmark), has negotiated the sale of 40 Hyde Park, a 10-unit asset located in the North Campus/Hyde Park area of Austin. Andrew Shih and James Young of ARA Newmark’s Austin office represented the seller, Artesia. The undisclosed buyer was a private investor also from Austin. Constructed in 1972, 40 Hyde Park is a garden-style apartment community comprising 10 efficiency units. The community is situated on an infill lot in the Historic Hyde Park District, Austin’s oldest neighborhood. Unit amenities for 40 Hyde Park include new gas stoves and countertops, upgraded light fixtures and two-inch faux wood blinds, as well as accent walls. The property is located within minutes of the University of Texas, Austin’s central business district and the Hancock golf course.