Ciminelli Real Estate Corporation has sold another property it acquired from Don and Lori Leone in the Elmwood Village. M & V Ventures LLC purchased 588 Potomac Avenue for $250,000. It was one of three properties Ciminelli has sold off after scaling back its redevelopment plans in the neighborhood. Properties at 721 Ashland and 588 Potomac were sold last month for a combined $975,000 to a downstate investment group.
588 Potomac has three apartments and 2,511 sq.ft. of space. M & V Ventures is registered to a Watertown mailing address. Ciminelli’s plans had called for demolishing 588 Potomac to provide a driveway to its proposed Reverie building’s parking area. A small playground was proposed for the balance of the site.
