Grand West Side Apartment Building Acquired for a Whopping $2.75M
A Notable Real Estate Transaction in Nashville
Nashville has recently witnessed a significant real estate transaction as one of its most prestigious apartment buildings has sold for $2.75 million. The buyer, a significant player in the local real estate investment scene, hails from a family that has been in the business for decades. The newly-acquired three-story structure is located in the beautiful Whitland neighborhood and has an address of 3810 Whitland Ave.
A Legacy in the Property Trade
The new owner is an LLC managed by Melanie Hirt, a member of a well-established local real estate investing family. Her brothers, Frank May and Jack May, have been buying and selling properties with a specific concentration in West Nashville since the 1970s.
Elegant Structure with Historic Value
Opened in 1946 and designed in the stunning Tudor revival architectural style, the building houses six capacious apartments. There are three two-bedroom and three three-bedroom units, with the transaction amounting to about $458,300 per residence. The structure, which has an apparent absence of any formal name, is part of the Whitland Area Neighborhood listing on the National Register of Historic Places.
Previous Ownership and Transaction Details
The property was sold by The Whitland LLC managed by Bronson Lankford, president of Nashville-based Lankford Decorating and Construction Inc. The LLC had bought the property for $2.1 million in September 2022, according to Metro records.
More Real Estate Ventures by the Mays
The May siblings have been involved in multiple real estate ventures in recent years. Among them, sizable properties in SoBro have been sold, and the famous Belle Meade Plaza has been sold to Adventurous Journeys (AJ) Capital Partners. Apart from these, Jack May is also marketing a significant West End Avenue building, most recently home to the library of Welch College, for sale at $4.5 million. This property is located at 3630 West End Ave.
The Deal Facilitators
In this high-profile Whitland Avenue transaction, Rick Helton, Andrew Maxwell, and Ally Lanahan represented the seller. The trio are from the local office of Orlando-based Foundry Commercial. Meanwhile, the buyer was represented by Fred Ripley of Brookside Properties.
The Implications for Nashville Real Estate
This deal serves as a testament to the ongoing dynamism of the Nashville real estate market. It further marks a growing interest in Nashville’s historic and well-maintained properties. This promising start to the year is anticipated to set the tone for the coming months in Nashville’s property sector.
