SVN are handling the sale of ‘Prime’ Midtown land development site.

Originally published April 21, 2016 by William Williams | Nashville Post

‘Prime’ Midtown site back on market

19th Avenue parcels now listed for $8.27M after deal fails to materialize

building finishedA multi-parcel Midtown property is back on the market after the prospective buyer decided to forego pursuing the purchase.

SVN and SVN, managing directors with the Nashville office of SVN, are handling the sale for the owners.

Creed said the asking price for the now-available four parcels — which have addresses of 821, 823, 825 and 827 19th Ave. S., and span a collective 0.76 acres — will be about $8.27 million, the equivalent of approximately $250 per foot. New marketing materials have been released.

Creed declined to disclose the identity of the company that had hoped to acquire and develop the site. He said the company is not locally based but has done quality residential projects in Nashville and was professional in handling the matter.

“The deal failed to materialize and it’s a disappointment,” Creed said. “But one thing has not changed: This is a prime-time site.”

“We’ve had developers from all over the country looking at it,” he added.

19th Avenue Land Partners owns 821 and 827 19th Ave. S. The entity is affiliated with Nashville-based Premier Parking Inc. (led by Ryan Chapman and in which local developer Tony Giarratana has ownership). Verges-James LLC owns 823 and 825.

Located at the northwest corner of the intersection of 19th and Chet Atkins Place, the properties are zoned to accommodate a residential building of up to 20 stories. See the site here courtesy of Google Maps.

The specific section of Midtown in which the parcels sit is home to multiple residential buildings of five stories or more.

Adjacent to the site is the modernist American Apartments building, with mixed-use condominium tower Adelicia across from it. Catty-corner sits University Square Condominiums. And nearby is Artisan on 18th.

Across 19th, Miami-based Lennar Multifamily is undertaking its mixed-use 19-story M Residences, with the under-construction building now on the fourth floor.