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Charleston's South of Broad residential area now features new real estate office

The South of Broad area of Charleston is known for its multimillion-dollar, antebellum mansions.

Few businesses can be found among the carefully cared-for residences and numerous one-way streets, but a high-end real estate firm has found a home among the stately spreads.

Oyster Point Real Estate windows

The sun illuminates the entrance of Oyster Point Real Estate’s new office at 72 King St. in the South of Broad neighborhood of Charleston. Gavin McIntyre/Staff

Formerly operating on Broad Street a couple of years ago before becoming a home-based business more recently, Oyster Point Real Estate recently opened at King and Tradd streets, transforming a former run-down residential property into office space with rental residential units on the upper two floors.

The 1,000-square-foot office is directly across the street from a corner lot where the former Fort Sumter Filling Station and Mr. Boxx's Garage operated before being demolished to make way for a new home about 20 years ago. 

"It's like a gathering place," broker-in-charge Carl Mabry said of the new corner real estate office.

"With all the people and tourists walking by, they can see our listings in the window or drop-in," said business partner Bunker Burr. "We have an open-door policy."

Oyster Point Real Estate business card

A business card for Oyster Point Real Estate is displayed on a table at the firm's new corner office at King and Tradd streets in the South of Broad neighborhood of Charleston. Gavin McIntyre/Staff

Once the coronavirus subsides, Mabry plans to offer wine tastings, author readings, live music and cocktails for clients and visitors.

The property deed came with a commercial offering, but Mabry, who lives nearby, still had to get approval from the city for zoning and architectural improvements.

He bought the three-story building in 2018 for just over $672,000 and then pumped in another $300,000 or so in renovations to the entire property, which includes a one-bedroom rental and three-bedroom unit on the upper floors.

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Hardwood floors and a bamboo-like wall covering highlight the refurbished property, which was designed by Brooke Aherne of Charleston-based Mix Interiors.

"It couldn't be a better place to list property," Burr said.

In early March, Mabry represented the buyer in the highest-priced deal for a residential property on the Charleston peninsula.

Jane Eudy, CEO and chairman of American Broadband Communications LLC based in Sulphur, La., paid $12 million for the two-floor penthouse atop the eight-story Peoples Building at 18 Broad St. The previous owner was philanthropist Terri Henning.

Atlantic on the Boulevard

The 280-unit Atlantic on the Boulevard Apartments off Rivers Avenue in North Charleston recently sold for $46.7 million to a company based in Salt Lake City, Utah. Provided

Changing hands

A recently completed four-story apartment complex in North Charleston has a new owner.

An affiliate of Middle Street Partners of Charleston recently sold the 280-unit Atlantic on the Boulevard Apartments at 2155 Morris Baker Blvd. off Rivers Avenue near Ashley Phosphate Road to an affiliate of real estate investment firm Milburn & Co. of Salt Lake City for $46.7 million.

In South Carolina, the Utah-based company also owns the 290-unit Latitude at Wescott Apartments in North Charleston and the 305-unit Millennium Apartments in Greenville.

Also changing hands, a self-storage facility in West Ashley recently sold for $11.5 million.

Pennsylvania-based CubeSmart now owns the StoreSmart Self-Storage facility at 3180 Marginal Road, off Savannah Highway, near Carolina Bay.

Reach Warren L. Wise at 843-937-5524. Follow him on Twitter @warrenlancewise.

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