Scott Kaster, the NAI Bergman broker for the building, said there have been offers for the building in that time.
“There have been a fair amount of offers,” Kaster said. “But none that suited the need of the owners.”
Centre City Partners LLC bought the building for $1.675 million in July 2016. The business was formed by members of Virginia-based American Investor Immigration Funds.
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The company uses a special federal visa program to attract foreign investment in U.S. ventures.
At the time of the last purchase, the Levitt Pavilion, just across from the building, had not been completed. Now, the pavilion is attracting regular crowds to free concerts and events.
The listing isn’t going unnoticed, Kaster said.
“Most of it has been out of state interest,” he said. “A lot of developers are looking at it. And a lot of historical people.”
Downtown has enjoyed plenty of attention in the past six months. One investor alone, Stratacache founder Chris Riegel, since December has purchased both the former Kettering Tower (now the Stratacache Tower) and the Courthouse Plaza building at 10 N. Ludlow St., across from City Hall.
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Among the property’s features: It is found in an “Opportunity Zone” for favorable capital gain tax treatment and is prime for redevelopment with PACE funds.
Multi-family development is possible, with almost 9,000 square feet of street retail space, the NAI Bergman listing says.
The Centre City building has also been known as the United Brethren building. NAI Bergman lists the property as the “City Centre” building.
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