The Lower Broadway building home to Downtown Sporting Club has sold for $47.9 million — about $20 million more than it went for when the ownership changed hands four years ago.
With the transaction, Downtown Sporting Club has closed, effective immediately, according to owner Strategic Hospitality.
Nashville-based investor group Broadway Property LLC was the seller of the building, which is located at 411 Broadway. The release does not include the new owner, and Scene sister publication the Nashville Post was unable to determine its identity. Mathews Company President Bert Mathews created the selling LLC to acquire the three-story building in August 2017 for $27 million.
The 42,394-square-foot building sits on a 0.25-acre site, making the deal the equivalent of $191.6 million per acre and $1,129 per foot — the latter of which ranks among the highest Nashville has seen.
“Our company has invested in downtown Nashville for 75 years," Mathews says in the release. "The sustained trajectory of our city reflects the universal appeal of Nashville as a place to live, work and play coupled with our singular caliber as a magnetic, must-visit destination.”
Max Goldberg, co-owner with brother Benjamin of Strategic Hospitality, said the company will continue operations of its nearby Merchants, a bistro and chop house located in a pre-1900-constructed building at 401 Broadway.
