LNR Holdings, LLC purchased the Earll Townhome Development at 70th Street and Earll Drive in Scottsdale for $1 million from 70th and Earll Townhomes, LLC.
The land sits two blocks south of Old Town Scottsdale.
“In many development projects, there comes a point where the developer contemplates passing the torch to another developer or builder, instead of proceeding to the complete the project themselves as was the case with the Earll Townhome Community sale,” Zack Mishkin, vice president of Orion Investment Real Estate, said in a press release.
The seller made plans for a two-story, 10-unit townhome community, according to a press release.
Mr. Mishkin said in a release the seller which he represented chose not to take the project through the design and review board phase in order to leave the opportunity for the buyer to take part in the creative process.
“The sale of this development project was exciting for all parties,” Mr. Mishkin said in a release.
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