901 Meridian art

901 Meridian St.

A multi-parcel East Nashville property previously eyed for a shared workspace business has sold for $5.3 million — roughly three years after it changed hands for $4.5 million.

The new owner of the four-plot Cleveland Park property, which is anchored by a former church building located at 901 Meridian St., is Invent Communities Inc., according to a Davidson County Register of Deeds document. That entity is affiliated with Jamie Pfeffer, owner of East Nashville-based Pfeffer Torode Architecture.

The seller was an LLC loosely associated with New York City-based shared workspace company Bond Collective. Bond was targeting opening as a tenant in the ex-church structure (opened in 1936 and most recently home to Ray of Hope Community Church) in the first quarter of 2020 in what would have been its first Nashville location (read here).

The seller acquired the property in July 2018 for $4.5 million from 901 Meridian Partners LLC, which had paid about $2.33 million for it roughly two years earlier. That LLC was affiliated with local real estate investors and developers Elliott Kyle and Rob Lowe, who, with some fellow investors, had bought the property from local real estate investor and developer John Rochford.

Relatedly, Kyle, Lowe and their investor team undertook the recently completed townhome component of mixed-use project Lindsley Place, located across Meridian from the former church building.

In addition, Kyle and the investors are seeking to buy the historic McGavock House building and are planning a craft beer brewery for the structure (read here), to be part of Lindsley Place.

In the latest transaction, Kyle represented the New York City seller, according to a source who asked to go unnamed. Pfeffer had no representation and is not ready to disclose any future plans he might have regarding the ex-church building, the source said.

The addresses of the other three properties sold are 903 Meridian St., 307 Cleveland St. and 309 Cleveland St.

My position with Nashville Post has evolved since 2000 when I began work with the now-defunct The City Paper. TCP became a Post sister pub in 2008 (when I began some Post work) and folded in 2013. I have worked mainly with the Post since late 2011.

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