Centre Court Apartment Homes in Manatee sells for $12.25 million

MANATEE -- The Centre Court Apartment Homes at 4255 52nd Place W. sold for $12.25 million at the end of March.

T. Mannausa & Co., under its company Centre Court on 53rd Ltd., sold the property to Centre Court Harmony Housing LLC, a subsidiary of New York-based Greystone & Co.

The previous sale of the property at 4255 52nd Place W. occurred in February 2000 for $1.2 million.

The 180-unit complex on 23 acres will be managed by Harmony Housing, a nonprofit "loosely affiliated with Greystone," according to Greystone's spokeswoman Karen Marotta.

"Harmony Housing is a nonprofit and our specific goal is to acquire and reinvest in quality affordable housing," Marotta said. "We have several properties in our portfolio now, and continue to acquire others in states like Florida and Texas. Our goal is to improve properties and manage them and maintain them as affordable housing."

T. Mannausa & Co., according to its website, has a portfolio valued at $100 million and "includes developing, purchasing, owning, managing and operating apartment communities, shopping centers, free standing net lease buildings and office space in Florida, South Carolina and Michigan."

Janelle O'Dea, business reporter, can be reached at 941-745-7095 or follow her on Twitter@jayohday.

This story was originally published April 5, 2016 at 8:32 PM with the headline "Centre Court Apartment Homes in Manatee sells for $12.25 million ."