A historic 18th-century downtown Charleston home featured in the movie "The Patriot" changed hands last week for $5.35 million.
Owners Bob and Sue Prenner sold the three-story, 8,130-square-foot house built in 1788 at 69 Meeting St. Wednesday, according to Judy Tarleton of Carriage Properties, who handled the South of Broad transaction.
The Poyas-Mordecai House, as it is known, was seen early in the movie as the site the title character played by Mel Gibson dropped off his children at "Aunt Charlotte's" before he attended an assembly leading up to the colonies' break with England.
Bob Prenner is well-known in fashion and retail circles as the owner of The Ben Silver Collection men's store at 149 King St. The Prenners have another house on one of the Charleston-area islands.
The name of the buyer was not publicly available last week as the deed had not been recorded with Charleston County's property office as of Friday.
Online real estate database company Zillow recently estimated the six-bedroom, six-bathroom home's value at $5.5 million. Taxes last year were about $16,500, according to the county.
One of Charleston's largest real estate companies is targeting Summerville for a new apartment community.
The Beach Co. recently bought 19 acres at U.S. Highway 17A and Dorchester Road with plans to build a 267-unit complex called Summer Village.
“The property not only offers close proximity to major area employers, it is also located near popular retailers along Summerville’s iconic Main Street, as well as Dorchester and Orangeburg Roads,” said Alan McMahon, development manager for The Beach Co.
Construction is scheduled to begin in June. The complex will include a full-service club room, pool, fire pit, village green and fitness center.
Multi changes to multifamily
Several multifamily complexes in the Charleston area have recently changed hands.
The biggest transaction of the bunch involved the sale of the 294-unit Broadstone Seaside complex at 1674 Folly Road. It changed hands last month for $66 million, or almost $225,000 a key. Arizona-based Broadstone Folly Beach LLC sold the apartments to Raia Properties Corp. of New Jersey. It's now called Spyglass Seaside.
Next up, California-based Passco Companies purchased the 240-unit Woodfield South Point in West Ashley for $38.5 million, bringing the real estate investment firm's acquisitions last year to $540 million. Arsenal Real Estate Funds was the seller. The deal worked out to about $160,400 on a per-unit basis.
The property at 1000 Bonieta Harrold Drive off Savannah Highway includes a saltwater pool and tanning deck, outdoor grills and barbecue areas, a clubhouse with outdoor fireplace, media and entertainment lounge, and cyber cafe. It also features a dog park and car washing station.
Passco said it chose to invest in Charleston because of its growing aerospace, automotive and technology sectors. It aims to acquire $1 billion in assets nationwide in 2017, according to Larry Sullivan, president.
In a more recent deal in North Charleston, Toro Real Estate Partners bought the 160-unit Hampton Oaks at 6600 Rivers Ave. for $12.7 million from an Atlanta-based company. The sale closed earlier this month. The privately held New York-based buyer said it plans to change the name of the rental complex near Eagle Drive to Bradley Square and invest $550,000 on upgrades. Toro now has acquired 600 units in South Carolina within the past eight months. The purchase brings its total portfolio to 1,300 units and $85 million in holdings.
"The location of this property in North Charleston is excellent, and we feel that this sub-market is experiencing amazing growth that we can take advantage of over the next 10 years," said Toro co-founder John Cohen. "Charleston has some very exciting things occurring, and we feel still has plenty of growth left."
On the rise
More new development could be headed to upper Meeting Street near the Ravenel Bridge. Property owner Charleston Interfaith Crisis Assistance Ministry is asking Charleston Planning Commission not only to rezone property at 573 Meeting St. and 35 Walnut St., but also to allow a taller structure. Walnut Street dead-ends behind the Meeting Street property and is where homeless shelter One80 Place is located.
The owner wants to rezone the property from general business to mixed-use and workforce housing. It also wants to rezone a portion of the site to allow a building up to 80 feet tall away from the street. The limit is 55 feet.
Several new apartment complexes and two hotels also are expected to rise along upper Meeting Street near One80 Place.
The Planning Commission will take up the request at 5 p.m. Wednesday.
Cane Bay Plantation continues to rank among the top-selling, master-planned communities in the nation. Housing market analyst John Burns Real Estate Consulting reviewed more than 340 masterplans to come up with the Top 20. Cane Bay moved up to No. 7 from No. 9 the previous year with 569 home sales, a 9 percent increase.
As The Post and Courier reported last week, Cane Bay developer Ben Gramling added to his land holdings in that neck of the woods by acquiring the neighboring 2,031-acre Wildcat Tract for $21 million.