Todd Graves, the billionaire founder of fast-food chain Raising Cane’s, is poised to smash the record for priciest condo sale in Nashville.
Graves is under contract to pay $15 million for a 4,000-square-foot penthouse spanning half a floor in the Four Seasons Hotel & Residences, at 100 Demonbreun Street, Bloomberg reported. The price comes to $3,750 per square foot.
The Four Seasons, which opened in 2022, features 235 hotel keys and 144 condos. A joint venture of the Congress Group and AECOM Capital developed the 40-story tower, which overlooks the Cumberland River and is near attractions such as the Country Music Hall of Fame and Ryman Auditorium.
The developers sold the hotel portion to an LLC led by businessman Salomon Juan Marcos Villarreal for $165 million, more than $702,000 per key, just days before it opened, the Nashville Business Journal reported.
Graves also made a splash in Dallas’ luxury condo market earlier this year, when he bought a penthouse in the under-construction Knox Hotel and Residences in Highland Park. The sale price was not disclosed, but the condo was listed at $25 million.
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Graves, who has an estimated net worth of more than $9 billion, founded Raising Cane’s in 1996 and has expanded to over 800 locations. The chicken-fingers chain is set to debut a location on Nashville’s Lower Broadway this week.
Nashville’s single-family market also soared to new heights earlier this year. In January, HCA Healthcare founder Dr. Thomas Frist Jr. sold his 20,000-square-foot mansion in Belle Meade, about 10 miles southwest of downtown Nashville, for $32 million, setting a Tennessee record for most expensive home sale.
Luxury home sales in Nashville, or those priced at $1 million and up, increased by 8.2 percent year-over-year in the first quarter, according to Redfin.
—Quinn Donoghue