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Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn’t representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

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4 thoughts on “Featured Pic: Foodland has got curb appeal”

  • Adam

    March 11, 2011 at 8:50 pm

    matt, who owns this property? are they asking for an exorbitant amount of money or is there just no interest? i can’t believe that such a prime location — adjacent to lafayette square, benton park and fox park — has been idle for so long…

    anyway, just wondering.

    Reply
    • Matt Kastner

      March 11, 2011 at 9:53 pm

      It’s listed for $2 million on Loopnet. I always heard that the current owners are somehow connected to Schnucks and that although there has been interest by a few other grocers through the years, but they refuse to sell to them. Don’t know if that is just one of those rumors or if there is some truth to it, but there is no doubt it is a critical parcel. I plan on doing a couple focus articles on this property and some of the glut of vacant commercial just south of 44 on Jefferson in the near future. Maybe I’ll find out more specifics when doing that research.

      Reply
  • Jim Reid

    March 18, 2011 at 1:37 pm

    I looked into this a bit and according to the City of STL website, the property owner is “FT-KRG (ST LOUIS) LLC”, which happens to be a subsidiary of public company, Winthrop Realty Trust. I took a quick look at the company’s 10-K and there is a note that on 2/8/11 they entered into a contract to sell the property. They expect the sale to be completed in the 2nd quarter of 2011. Interesting.

    The city website also mentions that there an occupancy permit issued in March 2010 for a charter school at this location.

    Reply
    • Matt Kastner

      March 20, 2011 at 1:23 pm

      Hmmm. I had asked around a few places about the building and was told that there would soon be a food coop in the parking lot. I hope you are right about the place being under contract though.

      Reply

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