S&S Diner Property In Contract, With Residential Tower Being Studied

An Israeli company has the S&S Diner property in contract, and is investigating the possibility of building a residential tower.

ASRR Capital put a ten percent deposit on the 1.38-acre property, with a contract price of $33 million. The deposit goes hard after after 45 days, with closing 60 days later.

If ASRR closes on the deal, it would be at a price that is close to the company’s entire market capitalization. ASRR is publicly traded on the Tel Aviv Stock Exchange, with a market cap of approximately $35 million.

News of the contract was first reported by The Real Deal.

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