Tenants to be Given First Right of Refusal

The Prado apartments, recently renamed The Madison, will start releasing units for sale to existing tenants shortly.

The release to tenants will be done in phases, and not all tenants are expected to exercise their option to buy their units. It is estimated that The Prado is now about 70% occupied, and that maybe 1/2 of those tenants will become buyers.

These luxury apartments have an abundance of high-end amenities, and the monthly HOA dues is expected to be in the nosebleed area of about $400 per month. Pricing is expected to start at around $350,000 for the smallest units.

Units are expected to be released for public sale around June of this year.

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