Who’s been buying property in Downtown and Northside Lexington?

Lexington’s Downtown and Northside neighborhoods have seen an influx of new investors in recent years, in large part due to the efforts of the now seemingly defunct North Limestone Community Development Corporation to develop an arts district, an Opportunity Zone designation by Congress in the Tax Cuts and Jobs Act of 2017, and a $550,00 grant to transform a bus depot into a public market.

According to the Fayette PVA, there were 225 property sales in Lexington’s Downtown and Northside neighborhoods in 2022. Who bought the most properties in the area?

Keep reading for a summary of who acquired the most property in the Downtown and Northside neighborhoods, or click here to jump to a map and full dataset of transactions.

ASTRA INVESTMENTS LLC

LLC owned by a local physician, Dr. Joseph Karpinsky.

Acquired in study area (2022):

• 210 E SIXTH ST
• 413 CHESTNUT ST
• 406 CHESTNUT ST
• 737 FLORIDA ST

Other holdings:

• 640 ELM TREE LN
• 700 WHITNEY AVE
• 241 RAND AVE
• 536 OHIO ST
• 177 ALABAMA AVE
• 548 SHELBY ST
• 458 MICHIGAN ST
• 528 MICHIGAN ST
• 802 CHARLES AVE
• 329 NELSON AVE
• 96 GLASS AVE
• 1410 HIGHLAWN AVE

BLUE CHIP CAPITAL LLC

LLC owned by Lexington real estate investors Joe Ray Nelson and Corey Cope. LLCs linked to Nelson and Cope own at least 61 properties around Lexington.

Acquired in study area (2022):

• 408 E SEVENTH ST
• 230 E SEVENTH ST
• 232 E SEVENTH ST
• 701 MAPLE AVE
• 234 E SEVENTH ST
• 703 MAPLE AVE

Other holdings:

• 1124 CENTRE PKWY

Joe Ray Nelson also owns Nelson House Property LLC, which holds numerous properties all over town.

• 604 NORTHSIDE DR
• 1086 MEADOW LN
• 3300 ALVA CT
• 257 HEDGEWOOD CT
• 211 E SEVENTH ST
• 1848 DUNKIRK DR
• 902 BYARS AVE
• 905 BYARS AVE
• 645 647 ANNISTON DR
• 571 BENTON RD
• 1053 MEADOW LN
• 2478 WOODHILL DR
• 614 EMERSON DR
• 245 OSAGE CT
• 156 GLENN PL
• 1009 DARLEY DR
• 611 EMERSON DR
• 1337 LEANING TREE LN
• 3100 PINE STRAW CT
• 754 SANDPIPER CT
• 239 HEDGEWOOD CT
• 255 HEDGEWOOD CT
• 1033 KEES RD
• 167 DELMONT DR
• 951 MARCELLUS DR
• 472 ASBURY LN
• 163 HEDGEWOOD CT
• 118 TWELFTH ST
• 436 ROBERTSON ST
• 2416 MIRAHILL DR
• 414 GRANARD AVE
• 416 GRANARD AVE
• 1587 ELSTON DR
• 478 ERIE RD
• 1032 RUSSELL CAVE RD
• 406 408 GRANARD AVE
• 170 HEDGEWOOD CT
• 1885 COURTLAND DR
• 982 MARCELLUS DR
• 2173 SANTA ANITA DR
• 337 SHADOW GLEN CT
• 591 LAMONT DR
• 1711 VERSAILLES RD
• 138 ASHTON DR
• 140 ASHTON DR
• 1042 STRADER DR
• 345 LINCOLN AVE

Corey Cope is a member of First Choice Holdings LLC, which owns seven Fayette County properties, as well.

• 430 SHAWNEE AVE
• 404 BARRISTER CT
• 119 121 GLENN PL
• 571 ROSEMILL DR
• 1405 HIGHLAWN AVE
• 216 OLD GEORGETOWN ST
• 704 STATESMAN WAY

BLUEGRASS INTERNATIONAL REALTY LLC

LLC owned by convicted cocaine distributor James R Bailey. According to court records, Bailey pled guilty to Conspiracy to Distribute 500 Grams or More of Cocaine in 2016 and was sentenced to 72 months in federal prison. He was released from custody around September 2020.

Acquired in study area (2022):

• 333 NELSON AVE
• 442 CHESTNUT ST
• 652 ELM TREE LN

Other holdings:

• 329 HICKORY ST
• 732 WHITNEY AVE

DAVIS JOHN A CO TRUSTEE | DAVIS PAMELA D CO TRUSTEE

Revokable trust held by Pamela and John Davis. Code enforcement records list a Kailua, Hawaii mailing address for the trust.

Acquired in study area (2022):

• 421 JOHNSON AVE
• 759 DAKOTA ST
• 633 N LIMESTONE

Other holdings:

• 242 SIMBA WAY
• 184 PREAKNESS DR
• 472 SOUTHPOINT DR
• 512 MARYLAND AVE UNIT 110
• 1110 SPARKS RD
• 407 ASH ST
• 244 SIMBA WAY
• 381 BOB O LINK DR

GENERATION 523 LLC

Generation 523 LLC is owned by Nova Development LLC, which is owned by commercial real estate developer Bishop E Carter IV and his wife Raquel, and Equity Solutions Group LLC, which is owned by UK Trustee Raymond A. Daniels.

Acquired in study area (2022):

• 506 GRINSTEAD ST
• 314 RACE ST
• 316 RACE ST
• 501 E THIRD ST
• 503 E THIRD ST
• 505 E THIRD ST

GIBSON, PERRY

Perry Gibson is a self-described landlord and stock market investor based in Lexington. The Herald Leader follows his Twitter.

Acquired in study area (2022):

• 713 N UPPER ST
• 219 W SEVENTH ST
• 702 FLORIDA ST

Other holdings:

• 258 E HIGH ST UNIT 204

JOSEPH SCOTT PROPERTIES LLC

Jospeh Scott Properties LLC is associated with Joseph Caelan Lebryk and Scott Logan Nieves, two recent UK grads and former LCA football teammates.

Acquired in study area (2022):

• 438 CHESTNUT ST
• 658 ELM TREE LN
• 439 OHIO ST
• 1345 1347 OHIO TER
• 736 MAPLE AVE

Other holdings:

• 121 AVON AVE
• 149 AVON AVE
• 215 ARCEME AVE
• 1568 FLORA GLEN WAY
• 632 GOLFVIEW DR
• 1759 HARRODSBURG RD
• 2812 HANNA PL
• 220 BLUE GRASS AVE

LFUCG

The Lexington-Fayette Urban County Government purchased five lots along E Third St near N Martin Luther King Blvd for $929,500 in July 2022.

• 218 E THIRD ST
• 208 E THIRD ST
• 213 215 NOBLE ST
• 206 E THIRD ST
• 214 E THIRD ST

MURPHY, QUINCY L.

Quincy L. Murphy appears to be an individual investor based in Lexington. He’s not linked to any Kentucky businesses.

Acquired in study area (2022):

• 646 N UPPER ST
• 316 OHIO ST
• 329 OHIO ST
• 429 OHIO ST

Other holdings:

• 359 OHIO ST

NEEDHAM, CHAD

Greyline Station owner/developer Chad Needham acquired two additional properties in the Northside neighborhood in 2022. Needham is associated with at least 33 properties, mostly in the Downtown and Northside neighborhoods.

Acquired by Needham in study area (2022):

• 741 PRICE AVE
• 109 CONSTITUTION ST

Acquired through Needham’s UPTOWNERS LLC in study area (2022):

• 1104 N LIMESTONE
• 1190 1194 N LIMESTONE
• 1186 N LIMESTONE

Other individual holdings:

• 150 AVON AVE
• 108 E LOUDON AVE
• 112 E LOUDON AVE

Also owned by UPTOWNERS LLC:

• 1106 N LIMESTONE

Needham’s LIMEHOUSE LLC owns 16 additional properties:

• 106 112 W SEVENTH ST
• 107 E SEVENTH ST
• 109 E SEVENTH ST
• 670 674 N UPPER ST
• 501 503 N LIMESTONE
• 505 N LIMESTONE
• 572 574 N LIMESTONE
• 667 N LIMESTONE
• 669 N LIMESTONE
• 671 N LIMESTONE
• 673 N LIMESTONE
• 700 N LIMESTONE
• 704 N LIMESTONE
• 706 N LIMESTONE
• 810 N LIMESTONE
• 808 N LIMESTONE

Needham’s NORTHYARD LLC owns:

• 780 N LIMESTONE
• 101 W LOUDON AVE
• 109 W LOUDON AVE

Needham has an interest in DOWNTOWNERS LLC with Chris Kelly, which owns:

• 151 CONSTITUTION ST
• 154 CONSTITUTION ST

Finally, Needham has an interest in RED KETTLE PROPERTIES LLC and BLUE KETTLE PROPERTIES LLC with Wes Hogan. The LLCs own:

• 216 EASTERN AVE
• 222 224 EASTERN AVE
• 228 EASTERN AVE

NEST B LEXINGTON LLC

NEST B LEXINGTON LLC and NEST A LEXINGTON LLC are a part The Nest Opportunity Fund, which describes itself as “positive impact investment fund that allows you to defer and reduce capital gains taxes while helping to rebuild American communities that have great potential but lack smart, strategic investments.”

The investment fund focuses on investing in Opportunity Zones:

Opportunity Zones (OZs) present immediate tax and investment opportunities for investors and entrepreneurs. Instead of paying a maximum capital gains rate of 20% now, you can defer those taxes and invest those dollars to accelerate your financial goals and profit significantly by 2029.

The Nest Opportunity Fund investor marketing page (https://nestopportunityfund.com/)

Acquired in study area (Nest B Lexington LLC, 2022):

• 702 LANCASTER AVE
• 432 434 E SEVENTH ST
• 524 CHESTNUT ST
• 615 N UPPER ST

Other holdings:

Nest B Lexington LLC:

• 134 E SEVENTH ST
• 456 LINDBERG DR

Nest A Lexington LLC:

• 447 MICHIGAN ST
• 862 ANGLIANA AVE
• 620 OHIO ST
• 137 EDDIE ST
• 407 E FIFTH ST
• 138 E SEVENTH ST
• 706 LANCASTER AVE
• 710 LANCASTER AVE
• 167 EDDIE ST
• 401 ASH ST
• 135 EDDIE ST
• 740 1/2 DAKOTA ST
• 704 LANCASTER AVE
• 705 CHILES AVE
• 917 GEORGETOWN ST
• 545 OHIO ST

NLWS LLC

NLWS LLC is an LLC formed by David Walden of Lexington in December 2021. Walden is listed as a VP on the Investment Team at MiddleGround Capital. He won a National Championship in Men’s Soccer at UNC.

Acquired in study area (2022):

• 104 W SIXTH ST
• 106 W SIXTH ST
• 568 HARRY ST
• 565 N LIMESTONE
• 567 N LIMESTONE
• 569 N LIMESTONE
• 573 N LIMESTONE

RECLAIMED DEVELOPMENT LLC

Reclaimed Development LLC is owned by Shane Eckman of Eckman Properties and Jeffory Weaver. It describes itself as “a real estate development company focused on revitalizing forgotten properties in the Lexington area” on its Facebook page.

Acquired in study area (2022):

• 761 763 E SEVENTH ST
• 1029 N LIMESTONE
• 1031 1039 N LIMESTONE
• 156 RAND AVE

Other holdings:

• 408 BAINBRIDGE CT UNIT 2
• 408 BAINBRIDGE CT UNIT 1
• 367 E SECOND ST
• 323 HICKORY ST
• 240 E FOURTH ST
• 1542 KILKENNY DR
• 276 E LOUDON AVE
• 257 WILLARD ST
• 308 E SEVENTH ST
• 1154 ANDERSON ST
• 348 E SEVENTH ST
• 723 DAKOTA ST
• 703 709 PAUL AVE
• 264 DRISCOLL ST
• 1150 ANDERSON ST
• 831 BRYAN AVE
• 753 DAKOTA ST
• 123 E FOURTH ST
• 443 CAMPBELL ST
• 532 BOOKER ST
• 413 E FIFTH ST
• 246 WARNOCK ST
• 244 WARNOCK ST
• 918 CHARLES AVE
• 520 528 BOOKER ST
• 1322 HIGHLAND PARK DR
• 266 DRISCOLL ST
• 740 DAKOTA ST
• 214 W FIFTH ST
• 216 W FIFTH ST
• 165 E SIXTH ST
• 171 E LOUDON AVE
• 624 CHESTNUT ST
• 3533 GERMANN CT
• 3628 SULIER CT
• 753 LYNN RD
• 107 DELMONT DR
• 714 GOLFVIEW DR
• 253 SPRING VALLEY LN
• 425 SHROPSHIRE AVE
• 259 LINCOLN AVE

Eckman Properties LLC owns an additional 82 properties in Lexington:

• 957 1/2 DETROIT AVE
• 167 WITTLAND LN
• 165 WITTLAND LN
• 163 WITTLAND LN
• 161 WITTLAND LN
• 159 WITTLAND LN
• 426 DAVIDSON CT
• 563 EMERSON DR
• 240 E THIRD ST
• 604 BRECKENRIDGE ST
• 832 W HIGH ST
• 838 W HIGH ST
• 623 N UPPER ST
• 848 BRYAN AVE
• 486 PRICE RD
• 118 WITTLAND LN
• 139 GLENN PL
• 664 E LOUDON AVE
• 431 CARLISLE AVE
• 179 E LOUDON AVE
• 838 BRYAN AVE
• 1757 GLENEAGLES DR
• 277 RADCLIFFE RD
• 601 LOGAN PL
• 129 WITTLAND LN
• 659 E LOUDON AVE
• 653 E LOUDON AVE
• 1001 MEADOW LN
• 439 CARLISLE AVE
• 359 N MARTIN LUTHER KING BLVD
• 663 E LOUDON AVE
• 661 E LOUDON AVE
• 160 E LOUDON AVE
• 558 EMERSON DR
• 844 W HIGH ST
• 2477 WANDA CT
• 1046 MEADOW LN
• 1207 RICHMOND RD
• 554 EMERSON DR
• 1207 HIGHLAND PARK DR
• 1209 RICHMOND RD
• 657 E LOUDON AVE
• 663 EMERSON DR
• 837 BRYAN AVE
• 865 DARLEY DR
• 185 191 EASTERN AVE
• 521 KILDARE CT
• 840 BRYAN AVE
• 175 E LOUDON AVE
• 159 E LOUDON AVE
• 118 CLYDE ST
• 337 N LIMESTONE
• 341 N LIMESTONE
• 339 N LIMESTONE
• 111 113 SALEM ST
• 427 CARLISLE AVE
• 609 LOGAN PL
• 421 EMERSON DR
• 180 E LOUDON AVE
• 141 GLENN PL
• 161 E LOUDON AVE
• 181 N EAGLE CREEK DR
• 2151 CHRISTIAN RD
• 559 EMERSON DR
• 1006 MEADOW LN
• 117 SWIGERT AVE
• 723 GOLFVIEW DR
• 571 JUDY LN
• 877 DARLEY DR
• 208 LINWOOD DR
• 122 FAIRLAWN AVE
• 955 DETROIT AVE
• 941 DETROIT AVE
• 957 DETROIT AVE
• 938 DETROIT AVE
• 1403 MARTIN CT
• 937 DETROIT AVE
• 118 ASHTON DR
• 74 GLASS AVE
• 120 ASHTON DR
• 959 DETROIT AVE
• 1101 SPARKS RD

SFR3-000 LLC, SFR3-080 LLC

These LLCs are two of 11 Kentucky LLCs with similar names controlled by Thomas Fallows and Jonathan Kibera, founding partners of the California-based SFR3 Fund. The fund markets itself as a provider of affordable housing.

What is the best – and quickest – way to create affordable housing? This is the existential crisis facing new households today. We’ve found renovating old houses in disrepair to “like new” is the most efficient way to bring affordable rentals to market. It is environmentally friendly too. We use local labor and a fraction of the materials used in new construction. We reuse existing infrastructure instead of building new roads to new developments requiring longer commutes. Our technology & scale enables significant efficiencies across acquisition, renovation & property management.

SFR3 Fund marketing page

Acquired in study area (2022):

• 113 RAND AVE
• 149 EDDIE ST
• 637 N UPPER ST

Other SFR3 Fund holdings:

• 4305 COBBLESTONE KNOLL DR
• 1111 N LIMESTONE
• 1700 1702 HILL VIEW PL
• 1257 GOLDEN GATE PARK
• 428 DAVIDSON CT

TITANIUM CAPITAL 7 LLC

Titanium Capital 7 LLC is an LLC registered in Richmond, Ky in January 2022. It’s not clear who the members are.

Acquired in study area (2022):

• 308 W SIXTH ST
• 312 W SIXTH ST
• 568 N BROADWAY

V&M DEVELOPMENT LLC

V&M Development is owned by local architect Van Meter Pettit. Pettit is also president of Town Branch Trail Inc., a nonprofit that has helped head the trail project. All five lots acquired by V&M are empty, so one can speculate that Pettit will design and build new housing on them.

Acquired in study area (2022):

• 176 YORK ST
• 460 KENTON ST
• 466 KENTON ST
• 462 KENTON ST
• 464 KENTON ST

Map and Dataset

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2022 Downtown and Northside Sales

Generated by wpDataTables

Top Photo: York St in Lexington’s Downtown neighborhood. (The Lexington Times)