The most recent plan by Michael Niazmand and Vladimir Novakovic also includes converting a coach house into two condominiums, which is allowed under the property's current zoning, and subdivide the rest of the land at northwest corner of Ridge Avenue and Dempster Street for seven single-family homes. Rather than seven single-family homes, Niazmand and Novakovic had envisioned 11 townhouses priced up to $900,000 but have dropped that idea because they doubt it is "politically feasible," says attorney James T. Murray.
The plan commission is expected to consider the team's most recent proposal next month.
Niazmand and Novakovic paid $2.8 million for the property at a May 2002 sale conducted by Sheldon Good & Co. Auctions LLC. The school system, which moved its headquarters to a $10-million building, was hoping to get at least $1.5 million for the property, which also includes a 7,285-sf warehouse at 1311 Asbury Ave. as well as a 5,500-sf food service building.
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