The lawsuit revolves around the former First Avenue Hotel, which is being developed into new residences after it sold at a bankruptcy auction for $6.6 million. Defendant David Zucker, CEO of Zocalo Community Development: ‘This is an entirely frivolous lawsuit.’
Residential Real Estate
Tessler Developments submitted a previous plan in 2015 for the 2.68-acre site that once housed Mexican restaurant La Loma, but never broke ground. The new plan incorporates a number of changes.
List price? $1.4 million for the early-20th-century house of worship.
The six-bedroom home sits on 2.5 acres. The seller bought the land in 2013 for $1.4 million, then built the house.
A local Re/Max agent was sued last week. In another case, the attorney representing homeowners in a lawsuit filed in September said the defendants, which include the city, have been served.
The eight-bedroom home was built in 1912 and has had the same owner for nearly half a century.
A former Pizza Hut at the site recently was demolished. ‘If all goes well, we’ll be wrapping up the job in June,’ the project’s generator contractor said.
The eight-story building a block west of Speer Boulevard last sold in February 2002 for $10.53 million.
Ken Wolf and Ari Stutz were two of the early forces behind RiNo’s transformation. “We’re trying to do there what we did here,” Wolf said of the Clayton site in May.
The current owner bought the property on 25th Avenue in 2011, and poured $3.4 million into the conversion, according to the listing agent.