Pappas Realty Co... "Commercial Real Estate...Exclusively" in Northeast Ohio since 1957

Tuesday, June 12, 2007

Big apartment owner buys suites near CSU

6:00 am, June 11, 2007

Niederst Management Inc. has paid $1.3 million for the 35%-vacant, 150-suite InTown Place Apartments, 2901 Euclid Ave.

Calling the building “kind of junky looking,” company president David Niederst said he plans to change the former hotel’s 1960s-vintage exterior and to spruce up 55 empty suites.

A low price per suite drew the apartment company to the building, as did its proximity to downtown and Cleveland State University.


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