Pan Urban – realestatesource

Morry Schwartz sells CBD apartment site

March 17, 2010September 25, 2021 Marc Pallisco international investor, Melbourne CBD Apartment Tower, Melbourne CBD development site sale, Morry Schwartz, Pan Urban

DEVELOPER Morry Schwartz has sold a residential development site he couldn’t get developed, at the top end of the Melbourne CBD.

Singapore-based construction and property giant Chip Eng Seng Corp is reported to have paid $20.2 million for the 1857 square metre site at 27 – 39 Mackenzie Street, which had a permit for a 32-level, 388 unit apartment complex (pictured).

Morry Schwart’z company Pan Urban paid $10.8 million for the site in 2008, then subsequently marketed a complex, before eventually listing it for sale.