Terrazzo, Rhythm and Encore Condo Closings 2010

August 26, 2010 by admin · View Comments 

This Nashville tax record analysis for 2010 condo sales was assembled to satisfy a large developer’s due diligence in the Nashville condo market. Only closings from the Terrazzo in the Gulch, the Rhythm at Music Row and the Encore in SoBro were considered. If you are a condo/multi-family developer, distressed asset fund, investor or bank [...]

Velocity in the Gulch Restructures Ownership

July 1, 2010 by admin · View Comments 

This morning the Tennessean reported that the Velocity in the Gulch’s ownership has been restructured. “The new owner of the 265-unit building in the Gulch is Velocity Residential LLC, with its principal offices listed with the identical address as the project’s lender, BBVA Compass Bank.” It should be noted that BBVA Compass in not the [...]

Q1 2010 Nashville Condo Closings

April 15, 2010 by admin · View Comments 

Below are the vast majority of the condo closings in the following areas of Nashville: 1) the downtown core, 2) the Sobro region, 3) the Gulch, 4) midtown and 5) the east bank. I have only considered condo projects that were completed after 2006 and contain more than 60 total units. I have excluded condo [...]

Encore Condo Developers Pay off Construction Loan

April 15, 2010 by admin · View Comments 

In an update to my September 25th, 2009 article about the Encore Condos, I am pleased to tell you that the developers of The Encore have paid off their $63 million construction loan obligation. Led by local developer Tony Giarratana, the Encore has sold remarkably well during what many consider to be recessionary times in [...]

5th and Main Condos Boot Renters Out

April 13, 2010 by admin · View Comments 

In the wake of the project losing FHA certification, the lender is quietly booting ‘lease purchasers’ out of the building who have no intention of consummating a purchase. Why? It’s simple. Under HUD’s revised rules, a condo development must be at least 50% owner occupied in addition to at least 30% sold or under contract [...]

Nashville Condo Prices

April 12, 2010 by admin · View Comments 

Most of you know that I keep a keen eye on the Nashville condo market and prices, but many of you don’t realize how much in-depth research I do. It is also interesting to learn that many buyers assume that the Velocity in the Gulch is the least expensive condo development in Nashville, but that is [...]

5th & Main Condos in Nashville Lose FHA Certification, Again

March 30, 2010 by admin · View Comments 

Call it fate, bad luck, the yo-yo effect or whatever you may, according to HUD’s website, the 5th & Main condos have lost their FHA certification for the second time in the past 9 months. As you may recall, the condos entered into receivership in February 2009, but began to show signs of life as [...]

Warren Buffett Predicts End of Housing Crisis

March 1, 2010 by admin · View Comments 

According to Bloomberg News, Billionaire Warren Buffett said the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply. “Within a year or so, residential housing problems should largely be behind us,” Buffett wrote on February 27 in his [...]

A Few Favorite Nashville Foreclosures & Short Sales

February 19, 2010 by admin · View Comments 

For those of you who missed out on the incredible 1 bedroom condo foreclosure in the Encore (the first ever) or the record setting one in the Enclave (all time record), I thought that I might share a couple of my current favorites: Short sale in the Icon in the Gulch – this is one [...]

John Rich Buys Seanachie Irish Pub in Nashville

February 17, 2010 by admin · View Comments 

Country music superstar John Rich and business partner Phil Martin, have purchased the Seanachie Irish Pub building in downtown Nashville. The building, located at 329 Broadway is pending renovations as the group is currently in the process of acquiring building permits, submitting plans and the like. While I have not been able to confirm the [...]

5 Best Condo High-Rises in Nashville

February 8, 2010 by admin · View Comments 

The Adelicia – The finishes, floor plans, design, construction materials and location all speak for themselves in this building. Famous residents like Simon Fuller and Taylor Swift have only added to its reputation (and price). The Terrazzo – The finishes are perhaps the highest end in Nashville, but its Interstate location and lack of views [...]

Embattled 5th & Main Condos Earn FHA Approval

January 20, 2010 by admin · View Comments 

The 5th & Main condo project in East Nashville, the first large condo project to enter receivership in February 2009, has received approval to issue FHA insured loans (according to the HUD website). The project has qualified under the new, lower FHA guidelines that only require a project to be 30% presold in order to [...]