ST. LOUIS — A mansion-turned-office building planned by the same architect who designed Union Station is under new ownership despite downward pressures from COVID-19.
Park Crest Holding Fund III LLC acquired 1905 S. Grand Blvd. in the Shaw neighborhood in St. Louis city for the asking price of $631,000, city records show. The property was designed in the 19th century by Theodore Link, who was the architect behind Union Station in Downtown West.
The seller, Mental Health America of Eastern Missouri, will remain in the 6,640-square-foot building as the sole tenant. The nonprofit was represented by Ben Albers, Mike Carlson and Jay Travis of Newmark Grubb Zimmer. The buyer was unrepresented.
“We engaged Newmark to help us sell the building in order to capitalize on the value of the real estate. We’ll be leasing space moving forward and having the extra capital will help MHA continue to perform its mission of expanding access for mental health resources," Mental Health America President and CEO Sue King said.
The building was put under contract during the stay-at-home orders, with the deal closing in mid-August despite the uncertainty of physical office space, Newmark's Albers said.
Click here for the full story.
