The Stanton Group, Inc. brokered a deal between a Nashville-based development company, 57th Avenue North LLC, and Renaissance Stone Co. The 1.5 acres of commercial real estate located at 1601 57th Ave. N. was sold to Renaissance Stone Co. for $1.1 million.
The residential project was scrapped by 57th Avenue North LLC following a lack of support from the local community. Kristin Hostettler Laine, a partner of the LLC, said they were spurred to sell after there was opposition to the project from some neighbors and District 20 Metro Councilwoman Mary Carolyn Roberts.
The LLC had originally aquired the property in August 2016 for $800,000.
Renaissance Stone Co. already operates on an adjacent parcel to the property, and its aquisition will allow Renaissance Stone Co. to expand its business footprint.
The Nashville Business Journal has named The Stanton Group, Inc. one of the largest commercial real estate firms in Nashville. "The List" of top firms is based on the Nashville-area commercial real estate brokerage firms with the most sales volume in 2016.
Read the article on the Nashville Post: Nations site once eyed for townhomes sells for $1.1M