Giarratana pays $6.7 million for skyscraper site

An entity affiliated with Nashville real estate developer Tony Giarratana has paid $6.7 million for the site where he’s pursuing his next downtown tower. Specifically, Giarratana paid $6,691,500, with the sale the equivalent of $486 per square foot based on acreage.

He bought the land from the YMCA of Middle Tennessee which had used an existing building on the 0.31-acre property for office space. It bought the property in 1998 for $391,500, according to Metro records.

Giarratana is roughly proposing a 30-story tower with 312 residential units. The company is evaluating whether to rent the units as apartments or sell them as condos.

Giarratana has built more apartments and condos downtown than any other developer.\

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