Mark Bloom & Larry Papel Acquire Land On Division Street In Nashville, TN For $4M
1806 Division Street & 1808 Division Street
$4,000,000
Building Size
—
Asset Type
Land
Closing
Oct 2, 2023
About this deal
AI
Corner Partnership, led by Mark Bloom and Larry Papel, has acquired two Division Street sites in Nashville, TN for $4 million. The properties, located at 1806 & 1808 Division Street, have been purchased from Sounds Perfect LLC, with the transaction completed on 10/02/2023. The potential high-rise development, potentially a hotel or residential project, is the main focus for the new owners.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $4,000,000
- Address: 1806 & 1808 Division Street, Nashville, TN
- Market: Nashville, TN
Mark Bloom and Larry Papel, representing Corner Partnership, successfully closed the deal with William Austin, the representative of Sounds Perfect LLC.
Players
Nashville Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93