While rumors have been spread that the recently sold Fifth and Main condos would soon be converted to apartments, this is not the case and the condos will resume being sold in April. The 129- Unit development was bought at an auction last week by Illinois-based ACG Equities Inc. for just over $11 million. Only nine units have been sold so far while an additional 60 have been rented out.
David Lang of ACG Equities stated, “Fifth and Main is a stunning property that, unfortunately, was a victim of the recession. We have long considered Nashville a prime market, so when this opportunity presented itself we jumped at the chance to be part of redeveloping one of Music City’s most historic districts.”
This mixed-use property will soon be introduced to the real estate market with “bold new pricing” and is said to be priced “lower than any other comparable condo on the market.’ Though it seems the condo real estate market is down at the moment, ACG is sure that the market is back on the rise and will take off with the sale of these units.
Are you looking for an upscale condo convenient to Downtown but not quite in the heart of it? A condo with all the convenience of great East Nashville Restaurants, easy access to the highway and luxury living at its finest? Fifth and Main not only offers great location with exceptional convenience but also serves as a luxiurous way to live. The condos have high ceilings, state of the art architecture, beautiful landscaping and amenities.
To learn more about Fifth and Main click here. If you think you may be interested, let us know! We’d love to help find the perfect real estate for you!
Source: Nashville Business Journal