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2323 Condo Project Brings in Retail Specialists for Investment Sale

Press Release

February 16, 2022

CONTACT: Courtney Hall
Retail Specialists

BIRMINGHAM, AL  – Metropolitan, LLC announced today that they will work with Retail Specialists to bring unique users to 2323, their 11-unit condo project. 2323 is a boutique courtyard, a two-building condominium development on the southside of downtown at 24th Street and 2nd Avenue South. Retail Specialists is selling the ground floor 2nd Avenue units as individual office condos or as an investment package at the highly visible 2nd Avenue building.

“We have been pleased by the level of interest at 2323 as a live and work space, and as an investment opportunity,” said Haden Smith, leasing associate for Retail Specialists. “This just reinforces the strength of the downtown market and particularly this forward-thinking project.”

The 2323 units were designed by San Francisco and Birmingham-based architects, David Baker Associates, and have full-height windows, balconies, and both north and south exposures. The 2nd Avenue ground floor units include bonus loft space making them perfect for a small office or a street-front work presence with a rear living component. A common garden between the two buildings will create an intimate inner oasis of outdoor space.

“As the project nears completion this summer, we have had an uptick in purchasers interested in our small scale, healthy designs,” said Anna Erdeich of Metropolitan, LLC, the developer for the project. “The design includes increased air filtration, no shared interior public space, and floor-through exposures for more air and light. And it’s all just minutes from our famed medical center at UAB.”

Highlighting the interest in investing at 2323, five of the units were sold to Birmingham’s native son, Joe French, who was drawn to the project as part of the Opportunity Zone program. Other investors are looking at blocks of units for AirBnb use or 1031 exchanges.

“Taking your dog over to the Rotary Trail around the corner or being able to walk over to The Battery or Pepper Place is another top reason buyers have been drawn to this part of downtown,” said co-developer Jeremy Erdreich.

The remaining units range from the mid $200s to the low $400s.

With construction by veteran builder Hancock Construction, the project is slated to open in mid-summer 2022. Financing for the project is being provided by ServisFirst Bank. For more information on the project, visit www.metropolitan2323.com and https://properties.retailspecialists.com/?propertyId=1022040-sale.

About Metropolitan, LLC

The development company of the brother and sister team, Jeremy and Anna Erdreich, focuses on urban infill through new construction and historic renovation for mixed-use, residential and hospitality. Metropolitan is best known for their townhouse development ROW 5 on Morris Avenue, the Phoenix Building lofts, Second Row, and the interiors at Cayo Coco.

rsi logo stack

About Retail Specialists

Retail Specialists, LLC (RSI) is a commercial real estate company with offices in Birmingham, AL, and Atlanta, GA. RSI focuses on brokerage, retail project leasing, tenant representation, property management and development. Retail Specialists is agile, proactive, and responsive with the objective of providing unparalleled service and results to our clients. A unique mix of experience, technology, and tenacity allows success in a business we love.

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