Grossman Sells Two East Side Buildings
But investor is expected to grow his holdings in the neighborhood.
Illinois-based real estate investor Samuel Grossman sold two of his East Side apartment buildings this week.
Grossman sold the buildings to Azzat, LLC, a newly-formed entity that lists Brookfield psychiatrist Dr. Khazi Muqeet as its registered agent.
“We believe in creating value in buildings by modernizing the interiors, while maintaining the historic look of the exterior and the balance that goes along with it,” said Grossman, a Fox Point native now operating out of Deerfield, Ill., in an April 2021 interview. Improvements to the often century-old buildings include new electrical service, plumbing, flooring and cabinets. “We convert unused basement space to fitness and business centers.”
Fairchild sold the 21-unit building 1718-1734 E. Lafayette Pl. for $2.25 million. It purchased the three-story building in February 2021 from Roxanne Kupfer for $2.09 million. It was built in 1894, according to city assessment records.
It also sold the eight-unit building at 2735 N. Murray Ave. for $1.18 million. In October, Fairchild purchased the four-story building from New Land Enterprises for $1.16 million. It was built in 1917, according to city assessment records.
Broker Nathan Glaisner of Verde Investments, who has represented Grossman on all Milwaukee purchases, said Grossman remains in “buy mode.”
Last year, Fairchild acquired the Paul Weisse Furniture Building at 1534-1542 N. Farwell Ave. and announced a plan to convert it to 12 apartments.
Grossman previously told Urban Milwaukee he plans to assemble a portfolio of 200 units. Including the planned Weisse redevelopment, Fairchild owns eight properties with 99 units.
1718-1734 E. Lafayette Pl.
2735 N. Murray Ave.
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