Midtown property sells for $5.62M

A Midtown property positioned between Broadwest and the site on which mixed-use tower Avalon is planned has sold for about $5.62 million, according to a Davidson County Register of Deeds document.

The new owner of the property, with an address of 1705 Hayes St., is an LLC affiliated with real estate developer and investor Jim Jacobs, the document notes. A partner with commercial real estate firm Cherry and Associates, Jacobs could not be reached for comment. Of note, he and other investors developed the Rutledge Hill site of recently opened mixed-use building Muse (read here).