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2 buildings to be auctioned
By SHARON L. BOND © St. Petersburg Times, published January 7, 2001 ST. PETERSBURG -- The McCrory's building at 425 Central Ave. and the Alden Hotel at 445 Central Ave. will be sold at auction on Jan. 26. Both are owned by Lou DeFabrizio, an investor from Toronto. The McCrory's closed two years ago. The hotel has been closed for many years. "We have an investor who decided he wanted to sell and sell quickly," said Sandra Blaker, a licensed real estate agent who works for Higgenbotham Auctioneers International Ltd. Inc. Blaker said auctions are not just for distressed properties. "They are for people who want to sell in a timely fashion. Many people want to know what day their property will sell," Blaker said, adding that she has sold homes at auction also. The price will be whatever the market bears, she said. The buildings will be sold separately, although the auctioneer can sell them as a package, she said. The Pinellas County Property Appraiser lists the market value of the McCrory's building at 425 Central Ave. at $282,300 for 2000. Although there were two separate pieces of property initially, the two buildings now are listed under one parcel identification number. Year of construction is listed as 1904. The last sale of the property was in May 1999 for $300,000. Efforts to reach DeFabrizio for comment were not immediately successful. He was said to be in Canada until the auction. McCrory's closed in January 1999 because of numerous violations of city building codes. The building once was recommended for demolition. The five and dime was in the two-story building on an 80 by 100 lot. The hotel sits on a 40 by 100 lot and is four stories high. Total square footage is 28,000 feet, Blaker said. Wendy Giffin of Structure Real Estate, who had the property listed for sale, said it had drawn interest. She said it was one of the last pieces of property on Central Avenue in downtown proper. "I would like to see it sold and rehabbed," Giffin said. Several buildings in the same block, including the Snell Arcade and Kress Building have been restored and now are used for offices.
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From the Times South Pinellas desks |
