A former restaurant property along 38th Avenue in Berkeley has sold and the site is slated to be redeveloped.
The property at 3301 W. 38th Ave. in Denver was purchased for $2.55 million last week by John, Stephen and Nancy Cianci; Chris Humphrey; and Kingsley Cougars LLC, according to county records.
The 0.5-acre corner lot is home to a 3,373-square-foot building that most recently housed restaurant Thai Basil.
John Cianci said the buyers hope to build a three-story building, with 6,000 square feet of ground-floor commercial space and 32 condos.
“We think it’s a great location for a for-sale product,” Cianci said.
The plans are still early in the process, and a site-development plan has not yet been submitted to the city.
Cianci said other projects he’s been involved with include the two-story building at 4433 W. 29th Ave. and Hogshead Brewery’s building across the street. He’s also building a 15,000-square-foot commercial building at 4437 Tennyson St. in Berkeley.
Ray Rosado of Cushman & Wakefield represented the seller, Sonrisa Holding 3301 LLC, an entity affiliated with Gene Lucero of Lucero Financial Group.
The Sonrisa LLC purchased the property from the owners of Thai Basil in September 2015 for $2.2 million. In October 2016, the LLC submitted a site-development plan proposing a three-story building at the site, with ground-floor retail, second-floor office space, and a restaurant and nightclub on the top floor.