These are the top 10 most expensive housing real estate deals in Lexington
Lexington’s real estate market is on fire, as illustrated by the rising prices for apartment complexes in Fayette County.
Because of their size, property value and turnover in ownership, apartment complexes are some of the highest-priced chunks of local real estate, according to Fayette PVA David O’Neill’s online database.
The sale of Bridle Creek Apartments near Shillito Park set a new price record at $75 million for the 384-unit complex.
But the per-unit price is still held by a previous transaction, O’Neill said: The 264-unit Waterstone at Hamburg apartments at 2785 Polo Club, across from Costco, sold in November 2021 for $63,700,000 or $241,287 per unit.
“We’ve got a shortage of houses, so as we’re not meeting the demand for houses people are having to go to rental property,” O’Neill said.
“The prices you’re seeing are the market reacting to supply and demand. Demand is strong but we’re not adding a lot of additional units to meet it. That’s in owner-occupied houses as well as all types of rental property,” he continued.
Excluding purchases by the University of Kentucky and a handful of other non-housing commercial sales, here are the top 10 real estate deals in Lexington.
What are the top selling apartments by total price?
▪ $75 million, Bridle Creek Apartments, 3800 Nicholasville Rd., June 2022.
▪ $71.8 million, Racquet Club, 3900 Crosby Dr., November 2021.
▪ $64.2 million, The Henry at The Summit at Fritz Farm, 200 Larue, March 2019.
▪ $63.7 million, Waterstone at Hamburg, 2785 Polo Club Blvd., November 2021.
▪ $51.5 million, Racquet Club, Crosby Drive, 2018.
▪ $50 million, Forty57 on Mooncoin in Beaumont, 4057 Mooncoin and 4161 Victoria Way, December 2012.
▪ $42.9 million, The Lex, 521 S. Broadway, November 2020.
▪ $42.5 million, The Wyatt student apartments on Angliana Avenue, April 2022.
▪ $40.8 million, The Wyatt student apartments on Angliana Avenue, Oct 2014.
▪ $40 million, The Lex, South Broadway, September 2017.
▪ $40 million, 300 At The Circle, 215 Codell Dr., October 2021.
All information is from the Fayette PVA database.
This story was originally published June 21, 2022 at 6:00 AM.
