A real estate developer completed his purchase of the former Edu Comp property last week, paying $2.4 million for the familiar red brick building at the head of Vineyard Haven’s Main street.

KXA Capital LLC and its principal, Xerxes Aghassipour, acquired the building Thursday from the family of the late Pat and Dorothy Gregory, who ran a successful electronics business there for two decades.

Mr. Aghassipour, who goes by Xerxes Agassi, is now before the Martha’s Vineyard Commission with a plan to renovate and expand the 7,686-square-foot building for mixed commercial and residential use.

A hearing before the commission on the plan is scheduled to resume March 3.