The Met Foods Supermarket at 197-205 Smith St. sold for $18.5 million on November 12.
Real estate firm RKF arranged the sale between John Dee Corp., and the buyer, a partnership of financial groups including Jackson Group, Aurora Capital, and ACHS Management.
The property is 10,000 square feet on the ground level with an additional 10,000 square feet in the basement level.
The sale also included air rights, or development rights, which would allow the property to be expanded another 10,000 feet on a second level.
While a representative from RFK could not be reached for comment and there are no immediate plans to develop the site as of yet, in a Dec. 11 statement the company’s managing director Brian Segall called the neighborhood "extremely under-retailed.”
“The new ownership will benefit from the strong residential base and the opportunity to grow rents," he added.
But locals have different opinions on what kind of development should take place.
"I think it's outrageous," said Rosina Natale, 61, of the potential for residential development. She is a co-owner at the Musician’s General Store at 177 Smith St., a block away from the site.
"We really need a supermarket actually. It has definitely affected people in this neighborhood that it closed,” she said. “We're going to be probably priced out of the neighborhood."
"I don't want it to be a big box storefront," noted Billie Patterson, 34, bar manager at Char No. 4, located across the street at 196 Smith St. "If it was a market that would be good."
The Jackson Group and ACHS also did not return a request for comment.