HOUSTON (Houston Business Journal) – After being the subject of bankruptcy proceedings in two states, Gramercy Park Condominiums has been sold in auction to Phoenix-based Alliance Realty Partners LLC.
The development at 2600 Gramercy St. was completed in 2006 under the financing of about 230 investors. The project was foreclosed on in late 2008. At the time of foreclosure, 220 units remained unsold.
Situs Cos. negotiated transaction terms on the property.

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