Albert Kahn-designed downtown building gets new ownership in $2.5M sale

The Tremonti Building in downtown Detroit has a new owner.

Jim Pappas paid $2.5 million for the empty Albert Kahn-designed building at 426 Clinton St. just off of Gratiot Avenue, according to the broker involved in the deal.

The deal was brokered by Farmington Hills-based Friedman Real Estate.

Peter Jankowski, the Friedman broker who represented both Pappas as well as seller Jeff Ziegler, said the building had been “on the market for awhile.”  

Plans for the 58,000-square-foot building are not known.

A message left with Pappas on Monday was not returned.

The building, which had housed the Wayne County Probation Department, sits a block away from The Exchange, the 16-story tower that was built from top to bottom. 

The probation department relocated to the new Wayne County Criminal Justice complex at Interstate 75 and East Warren Avenue, vacating its home of more than 20 years, said Jankowski, who is senior vice president of investment sales and advisory services for Friedman Real Estate. 

Editor’s note: A previous version of this story misidentified the Tremonti Building buyer. This version is correct. 

Compare Properties

Compare
You can only compare 4 properties, any new property added will replace the first one from the comparison.