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Fri July 18, 2014
Historic government building in downtown Detroit to be sold to New York buyer
I know what you’re thinking.
This building that once housed Wayne County’s administrative office is perhaps "one of the nation’s finest surviving examples of Roman Baroque Revival architecture, with a blend of Beaux-Arts and some elements of the Neoclassical style."
I was thinking the exact same thing.
Well, I was really thinking it’s a beautiful building in downtown Detroit and I hope it gets some attention.
Now it looks as if that might happen. The Detroit Free Press’ Marlon Walker reports the building is being sold to a “yet-to-be-named New York purchaser” for $13.4 million:
The Economic Development Corporation is expected to vote on the sale at its board of directors meeting at 9:30 a.m. on Tuesday.
Moshe Oppenheim, a New York attorney representing the buyers, said last week during a committee of the whole meeting that the group had a two-stage plan for the building, including spending about $5 million on leaks, damages and facade issues and up to $10 million to get the space ready for companies interested in leasing the property.
Crain's Detroit Business' Kirk Pinho reported earlier that it’s the buyers first purchase in the Detroit area. A spokesman said the group has “multiple Class A real estate holdings in Manhattan.”
Wayne County left the building after legal disputes with the building’s owner, the Farbman Group. Pinho reports that Wayne County’s Executive filed the lawsuit:
Ficano filed a $40 million lawsuit against the owners, accusing them of billing for unnecessary expenses, not returning a security deposit and not paying a debt of $35 million.
"This (sale) will resolve any outstanding litigation between the county and Old Wayne County Building LP," Layne said.