Denver-based firm pays $1.31 million per unit in bulk deal, below recent individual sales at the luxury tower.
GD Holdings purchased 16 luxury condominiums at the St. Regis Chicago from Sony for $21 million, or roughly $1.31 million per unit. The transaction, recorded in public filings, highlights the value of bulk discounts in high-end real estate markets.
The deal includes penthouse units on the 89th and 77th floors, where individual sales have recently commanded higher prices. Sony acquired the condos from Dalian Wanda Group in January, marking a rapid flip of the portfolio. Wanda retains ownership of 21 additional units in the building.
The acquisition strengthens GD Holdings’ presence in the 101-story tower, though Sony’s potential retained financial interest in the units remains unclear.