HOUSTON – Houston apartment developer Marvy Finger has purchased old the Art Institute of Houston office building at 1900 Yorktown in the Galleria area.
Finger Cos. will demolished the six-story, 94,000-sf building, which is located near San Felipe street and the Marathon Oil office tower. The Art Institute vacated the building about a year ago.
Finger will construct a mid-rise apartment tower on the site. Finger is known for being able to sniff out Inner Loop and close-in properties with development potential. With a scarcity of vacant land, Houston’s multi-family developers have located old office buildings, warehouses, vacant churches and other buildings that can be demolished to create sites for mid-rise and high-rise apartment development.
In the building sale, the HFF investment sales team representing the seller was led by senior managing director Dan Miller, managing director Davis Adams and director Marty Hogan.
Led by Houston apartment magnate Marvy Finger, The Finger Companies have completed more than 75 apartment communities in 13 cities representing more than 25,000 units with a consistently strong return on investment.
