SAN JOSE – The family investors who sold a select package to Google as part of the search giant’s proposed downtown San Jose transit village have completed another property purchase in the popular Willow Glen neighborhood.
In the latest deal, an Ilya Neizvestny-led trust that operated Pawin ‘Around, a now-closed dog daycare in downtown San Jose, bought two properties in Willow Glen.
The first deal after the Google deal came in early June when the Family Trust opened a retail building at 1049, 1051, and 1053 Lincoln Ave. which is located near Broadway Avenue in Willow Glen.
In the last transaction, which closed in late July, the Neizvestny Trust bought a maisonette at 946 and 948 Chabrant Way in Willow Glen.
The deals are a reminder that Google’s purchases of dozens of San Jose properties for the tech titan’s proposed mixed-use development in Downtown West are also helping to spread the fortune as sellers later invest or reinvest the proceeds from the original transactions.
Google has proposed a mixed-use transit village in downtown San Jose that will consist of offices, apartments, restaurants, shops, hotels, entertainment centers, and cultural centers near the Diridon train station and the SAP center.
In early May, Google paid just over $ 4.6 million for a commercial building on 50 S. Montgomery St., where Ilya Neizvestny ran the popular Pawin ‘Around daycare center. The seller was the family business Neizvestny.
After the May deal with Google, the Neitvestny group began looking for one or more properties to buy according to 1031 exchange rules.
A few weeks later, on June 1, the Neizvestny Group paid $ 3.6 million for the Lincoln Avenue retail building.
In the last transaction, which closed on July 24, the Neizvestny-run trust paid $ 1.16 million for the bungalow on Chabrant.
“Enjoy the Willow Glen lifestyle to the full in this charming duplex,” says a post on the Cozy-Apartments.com website about the Chabrant property.
In an earlier interview about his family’s purchases after the Google deal, Neizvestny made it clear that the group was very interested in San Jose’s Willow Glen neighborhood.
“Willow Glen, San Jose, the whole area, these are good locations,” Neizvestny said.