The Hawaii investor who not too long ago closed on the acquisition of the fee-simple ground lease beneath the leasehold Laniakea Residences in Waikiki additionally purchased the Excessive Tide Residences, a small multifamily constructing subsequent door, final month for $three million.
Excessive Tide Dragon LLC, which is owned by investor Carlton Kusunoki, closed on the acquisition of the fee-simple constructing at 403 Hobron Lane, which is split into 12 condominium items, on July 17, in response to public information. The vendor was Marimo Co. Ltd., which had acquired it in 2013 for $2.5 million, in response to tax information.
The three-story masonry walk-up was in-built 1966 and sits on 5,284 sq. toes of land on the nook of Hobron Lane and Lipeepee Road, and abuts the 28-unit Laniakea Residences at 369 Hobron Lane on one facet.